NEW YORK: The New York Times said Thursday it had some 7.5 million paid subscribers at the end of 2020, a gain of more than two million for year as it progressed in its digital transition.
Nearly 90 percent of the subscribers were digital, according to the prestigious daily which released its quarterly earnings.
The number of print subscribers fell slightly from the year earlier to 833,000.
The company said 18 percent of its subscribers are outside the United States, as it emphasizes international growth.
The results for the past quarter showed an 84 percent drop in net profit to $10 million, largely due to a one-time expense of shifting the company’s pension obligations.
Revenues for the fourth quarter were flat at $509 million, as gains in subscription income offset weakness in advertising.
For the full year the company reported a profit of $100 million, down 28 percent from 2019.
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