Thursday, October 20, 2011

Digital subscriptions boost New York Times

The New York Times reported a profit for the third quarter and beat analysts’ earnings estimates, but continued to lose advertisers for both its print and digital products, reports. Paying digital subscribers to the New York Times reached 324,000 in the quarter, compared with 281,000 at the end of the second quarter. Its website paywall, introduced in March, is seen as an important new revenue stream for the publisher, which is facing steadily diminishing print circulation.

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