The New York Times Forecasts Subscription Revenue Growth Below Estimates
The New York Times projects a first-quarter subscription revenue increase below Wall Street estimates, indicating escalating competition for subscriber acquisition.
Prominent news organizations like CNN and The Verge have recently introduced paid subscriptions for online content in a highly competitive market. For the first quarter, The New York Times anticipates a subscription revenue growth of 7% to 10%, against analysts' consensus estimate of 9.9%, as per Visible Alpha data.
Its projections for digital-only quarterly subscription revenues range from 14% to 17%, exceeding the 13.6% market expectation.
Total revenue for the fourth quarter ending December 31, 2020, reached $726.6 million, aligned with LSEG's consensus estimates.