The New York Times Company announced its first quarter earnings this morning, and at least for the first three months of the year, things have been going well. The company reported that total revenue increased by 2.6 percent compared to last year, and both print and digital ad revenue were up.
Digital circulation is also up. The Times now has about 799,000 digital-only subscribers, which is pretty impressive. Some of this bump could be credited to NYT Now and Times Premier, the digital products the company launched earlier this month. While the Times wouldn’t comment on how many people are using either one, Mark Thompson, the Times’ CEO, cited NYT Now as “being embraced by the market.”
Despite the good news, everyone at the Times understands there are always rough waters ahead. ”We are certainly not claiming victory in advertising yet; we expect continued month-to-month volatility and recognize that we will face some significantly tougher year-on-year comparisons as the year goes on,” explained Thompson, in a statement.
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