The New York Times Company Made Some Money: Digital Subscriptions Up, Advertising Down

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Photo: Andrew Burton/Bloomberg via Getty Images

The company that owns the New York Times, Boston Globe, and part of the Red Sox, among other less successful things (hello, About.com), reported a profit of $15.7 million this quarter, making for a much better summer than last year, when they lost $4.3 million in the same time frame. The paywall on the website of their flagship newspaper now counts 324,000 paid subscribers, up from 281,000 at the end of the last quarter, but digital advertising revenue across the company fell 4.5 percent (hello, About.com!), while print advertising revenue was down 10.4 percent overall. Circulation was up and costs were down, but a few Times buyouts still loom, a result of what the paper describes today as "the challenges the industry faces in a stagnant economy."

Related: The Kingdom and the Paywall [NYM]
Times Company Reports a Profit [NYT]