New York Times profit/TimesSelect subs up
Posted by John Burke on July 19, 2006 at 4:45 PM
The New York Times Company released its second quarter results yesterday showing a 0.5million increase in net income from the same quarter in 2005. Total revenues were up 1.6%, including a 1% increase in ads and a 0.6% increase in circulation revenues.
"Other" revenues increased 12.3% thanks to TimesSelect and higher commercial printing.
Ad revenues on the company's websites increased 25% bringing its overall Internet business to 7.7% of revenues, a 1.9% increase year-on-year.
Costs were up 2.9%.
TimesSelect now has well over 513,000 subscribers, 37% of which are Internet only subscribers. The service will add more features including extra video as it approaches its first anniversary which will be accompanied by a publicity campaign.
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