NEW YORK – The New York Times said Tuesday it now has more than 5 million total subscribers after adding 1 million for its digital offerings in the past year.
The prestigious New York daily, which began its paid digital subscriptions in 2011, has been among the most ambitious in the U.S. media in moving to a paywall model.
According to a statement from chief executive Mark Thompson, the Times passed its goal of $800 million of annual digital revenue a year ahead of schedule, double the amount from 2015.
The newspaper has 3.4 million “core news subscriptions,” and 900,000 print subscribers, the statement said.
It also has some 600,000 subscribers to its crossword service and 300,000 for its cooking content.
The company has set a goal of reaching 10 million subscribers by 2025, including 2 million outside the United States.
The Times, which will release its quarterly results on Feb. 6, has moved to a model in which a majority of revenues come from subscribers, shifting from the print model where advertising generated the bulk of income.