The New York Times Company continued its march toward a digital future in the third quarter of 2017, as strong growth in digital advertising and new online subscriptions helped counteract a further collapse in print advertising.
Including subscriptions for its crossword and cooking products, The Times now has nearly 2.5 million digital-only subscriptions.
The Times, however, has not been immune to the punishing, industrywide downturn in print. Print advertising revenue fell 20 percent in the quarter, fueling a 9 percent decrease in total advertising revenue.
“This was another strong quarter,” Mark Thompson, the chief executive of The Times, said during an earnings call, although he added that the market for print advertising remained “challenging.”