The Failing New York Times released its third-quarter numbers this morning and, well, if the rest of the news industry was doing this well, we could shut down Nieman Lab and grab some worry-free beach time in warmer climes. Its ongoing transition from print to digital revenue has been managed without the staffing disruption just about everyone has seen, and it continues to see significant jumps in paying digital subscribers, seven years after launching the paywall and two years after its initial Trump bump.
It’s doing fine. Take 98 percent of whatever energy you devote to worrying about the future of the Times and rechannel it into worrying about your local daily, which is very likely approaching existential crisis.
The Manhattan-based news-and-crosswords concern now has 2.54 million paying digital news subscribers, with another half million for its various other non-news products. Digital subscription revenue topped $100 million for the first time in a quarter and it’ll likely hit $400 million for the calendar year.
Throw in another $200 million-plus or so from this year’s digital advertising haul — which has basically been flat year-over-year — and the Times will likely pass $600 million in digital revenue this year.