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New York Times beats Trump slump

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The New York Times office is pictured in New York City, September 28, 2020. REUTERS/Carlo Allegri

NEW YORK, Aug 4 (Reuters Breakingviews) - The New York Times’ (NYT.N) epic 2020 was always going to be hard to beat . The newspaper’s second-quarter results on Wednesday showed the slowest digital subscription growth in three years read more , with only 142,000 paying customers added. That’s a far cry from the record numbers who signed up last year thanks to U.S. President Donald Trump’s attempt to win a second term in the White House and Covid-19 coverage. Yet there was enough good news to drive shares up 10%.

Take advertising, normally a dismal affair for newspapers. Digital advertising jumped 80% from a year earlier while print ad revenue rose 40%. In total, the Times made $113 million from ad sales. True, 2020 was a low point when brands halted spending. But digital ad revenue was up more than a fifth compared with the second quarter of 2019. Courting Madison Avenue is helping the Times cope with the Trump slump. (By Jennifer Saba)

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Editing by Swaha Pattanaik and Amanda Gomez

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