“We’re taking a lot of positive steps in the programmatic space,” Levin said. “We’ve done quite a bit of work this year in our technology stack and opening up demand pools for buying and selling, and expect it to be a more meaningful part of business in the coming year.”
The 20% growth in subscriptions amounted to 44,000 net new subscribers. The Times highlighted the traction it has seen with its mobile subscription and content offerings.
Mobile apps like NYT Now offer Times content at a lower price point. “We are excited with the chord we’ve struck with younger users with that particular app,” Thompson said. The Cooking app attracted two million uniques last month. But the Times chose to sunset the Opinion app due to its small following.
Understanding its subscribers across devices and print remains a challenge. “We don’t have a sophisticated multiplatform metric or master metric,” Thompson said. The company tracks engagement by session time “from platform to platform,” but can’t tie together usage.
This quarter included costs related to severance and reorganization. Earlier this week, The Times announced the departure of Denise Warren, the EVP of digital products. Her job will become two as the Times splits up its products and services division. The Times will hire its first ever Chief Marketing Officer to take care of marketing, and a Chief Digital Officer to head up more product-based digital efforts.
For next quarter, The Times predicted its digital growth and subscriptions would continue to increase, but not to the levels seen in Q3. “We don’t expect every quarter to grow as strongly as this one,” Thompson said. Wall Street seemed to disagree with the strength of the quarter. The stock has slid 6% so far from the previous close.