New York Times Co saw a 6.1 per cent lift in revenue in the third quarter, driven by growth in subscribers and advertising sales for its digital products. The digital growth more than offset a substantial decline in print advertising. The company reported a 14 per cent increase in subscription revenue to $US246.6 million as...
The digital growth more than offset a substantial decline in print advertising.
The company reported a 14 per cent increase in subscription revenue to $US246.6 million as the paper added 105,000 additional digital news subscribers and raised print subscription fees in the quarter.
At the same time, digital advertising revenue grew 11 per cent to $US49.2 million, while print advertising tumbled 20 per cent. In total, the company reported advertising revenue of $US113.6 million, down 9 per cent from the same period a year earlier.
Overall revenue for the third quarter increased to $US385.6 million from $US363.5 million in the year-earlier quarter. The company reported a profit of $US32.3 million, or 20 cents a share, compared with $US406,000 in the same quarter a year earlier. Adjusted earnings were 13 cents a share.
Facebook has reported a 79 per cent jump in its third-quarter profit, beating analyst projections.
The social media network performed better than the analysts polled at Thomson Reuters expected, with a reported profit of $US1.59 a share, compared to the predicted $US1.28.
Facebook generated $US10.33 billion in revenue, increasing from $US7.01 billion in last year’s quarter.
The tech giant’s growth in revenue may slow after the company announced its plans to invest more in security and safety operations, following a Senate Intelligence Committee hearing into the alleged involvement of Russian operatives in altering Facebook posts, disguised as Americans.
“We’re investing so much in security that it will impact our profitability. Protecting our community is more important than maximising our profits,” chief executive Mark Zuckerberg said in the company’s earnings release.
Assistant director-general for communication and information at UNESCO, Frank La Rue, has written a message addressing the significance of November 2 – International Day to End Impunity for Crimes Against Journalists.
In it, Mr La Rue urged senior editors and CEOs to join worldwide actions that commemorated the occasion by honoring journalists who had died bringing news and information to the public.
“I am inviting you to work together with other media to pool efforts, to share good practices and to expand the coverage on attacks against journalists, including by publishing front page stories.”
Mr La Rue also detailed statistics demonstrating the global attack on freedom of information.
“Over the last 11 years, 930 journalists have been killed for bringing information to the public. On average, one journalist is murdered every four days. In addition to this worrying number, in more than nine out of 10 cases, the killers go unpunished,” he said.
“It is only when journalists can work in a safe and independent environment, that there can be a free flow of information for all citizens to access and that sustainable development can be achieved.”