(AP)The New York Times Co. just reported a year-over-year net loss for the months of April through June. But there was one nugget of good news in its quarterly earnings release Thursday morning.
Paid subscriptions for nytimes.com, for which the Times began charging for unlimited access, totaled 224,000 in the second quarter. That's a substantial increase from the 100,000 paid digital subs, including some registered at an introductory promotional rate, that the Times logged when it came out of the gate with its metered online model at the end of March. (The cheapest and most popular digital subscription package costs $15 a month for unlimited access via the web and smartphones.)
Additionally, the second-quarter earnings report brought news that the Times had added 57,000 e-reader downloads, bringing the paper of record's total paid digital subscriber count to 281,000. Home delivery subscriptions, which come with free access to the Times' digital editions, have likewise increased since mid-March--by the end of the quarter 756,000 home subscribers had taken advantage of dual print-web access.
"We are pleased with how this initiative is rolling out," said Times Co. CEO Janet Robinson in prepared remarks on a conference call with analysts. Looking ahead, she added: "The full potential of our new digital model will become more evident as the year progresses, providing us with a significant new revenue stream in the second half of the year."
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