Even as Ad Revenue Drops, New York Times Sets Subscription Records

The publisher will depend on subscription more than ever this year

the nyt building
The Times reported subscription growth amid Covid-19. Getty Images

The New York Times’ president and CEO, Mark Thompson, was among the first U.S. media executives to publicly state how Covid-19 would affect the publisher’s ad revenue when he said the business was seeing a “slowdown in international and domestic ad bookings.” That was in early March, even before Covid-19 was declared a pandemic. Thompson anticipated a 10% decrease in digital ad revenue in the first quarter.

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@SaraJerde sara.jerde@adweek.com Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.