The New York Times Company posted increased revenue and a jump in subscriptions in its fourth quarter earnings report released early Thursday morning, sending the company’s stock soaring.
Perhaps most encouraging for the media company, it reported that paid subscriptions had increased 13% from the third quarter, thanks in large part to digital subscription packages. The company also earned $164.6 million in revenue from its sale of its ownership interest in job search engine Indeed.com and $291 million net revenue from its sale of About.com.
The news is especially encouraging to media companies wondering if the so-called digital paywall could be the answer to declining subscriptions and audience share. But it comes at a time when the Times is losing some of it top executives and possibly looking at another round of layoffs. The news for ad revenue wasn’t encouraging either: While digital advertising revenue was up thanks to a big additional week, overall ad revenue fell 3.1% for the quarter.
What do you think about the future of the Times? Does this earnings report show the digital paywall can save journalism?
[Photo by Flickr user Wallyg]