Image via CrunchBase
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.
Own a local business?