On Thursday, The New York Times Company published its first-quarter results for 2011, and things are looking good for digital subscriptions. In a statement, the company said that the number of paid subscription packages for NYTimes.com and its other digital platforms has surpassed 100,000 since the Times launched its global paywall on March 28.
“We are pleased with the number of subscribers we have acquired to date, as initial volume has meaningfully exceeded our expectations,” said the company’s president and CEO, Janet L. Robinson.
According to a senior vice president of corporate communications, those 100,000 subscriptions include the 99-cent introductory offer promotion but not those tied to print subscriptions or a promo offered by Lincoln giving readers free access.
“So soon after the launch, the Company does not yet have visibility into conversion and retention rates for these paying customers after the initial promotional period,” the statement said, “although early indicators are encouraging.”
The company also reported that total digital revenues increased 6.1 percent to $95.9 million from $90.4 million, with digital advertising increasing 4.5 percent from $80 million to $83.6 million. However, that growth couldn’t offset the 7.5 percent decline in print advertising revenues for the quarter.