New York Times Slides After Warning of Subscriber Slowdown
- Publisher gained customers on heavy news cycle that could wane
- Advertising revenue plunged 30% as sales dropped in pandemic
The New York Times has set a goal of hitting 10 million total subscribers by 2025.
Photographer: Johannes Eisele/AFP/Getty Images
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The New York Times fell the most since April after warning that it doesn’t expect an encore to its dramatic 2020 subscriber gains.
The Times added 393,000 online subscribers in the third quarter, thanks partly to a heavy news cycle, the company said in a statement Thursday. And digital-only subscription revenue exceeded print subscription revenue for the first time.