The digital paywall that The New York Times implemented in March 2011 continues to pick up speed. According to Mashable, about 509,000 people now subscribe, which is up 13% from March 2012. Additionally, people who are not subscribed can only read 10 articles a month on the website, down from 20 at the beginning of the year. Digital subscriptions cost from $15 to $35 a month.
The growth, along with an increase in the price for home-delivery and single issue papers amounted in an 8% increase in circulation revenues for the first quarter, which offset an 8% decline in print advertising and 4% decline in digital advertising. These declines are due to a decrease in display and cost-per-click advertising at the About Group. The New York Times Co. reported an operating loss of $143.6 million for the quarter, which was due mainly to a $194.7 million writedown for the About Group. Last year at the same time, the company reported a profit of $31.5 million.