New York Times (NYT) 2020年年度报告「NYSE」.pdf

1、The New York Times Company 2020 Annual ReportLife Needs Truth.To Our Shareholders,2020 was perhaps the busiest news year in the 170-year history of The New York Times.From the pandemic and its devastating human and economic toll to the national reckoning over race and social justice to the bitterly

2、contested U.S.presidential election,the past year made clear what we at The Times have long known:The need for quality,independent journalism is as acute as ever.The Times rose to meet that need.And we did so with energy and rigor commensurate with our mission.Our strong business results reflect the

3、 hunger for Times journalism.2020 was our best-ever year for subscriptions,with 2.3 million net new digital-only subscriptions added.We ended the year with 7.5 million total subscriptions across our digital and print products including,for the first time,more than 5 million digital subscriptions for

4、 our core News product.Thanks to the record-setting growth in our digital subscription business,and despite the loss of$138 million in advertising revenue last year,we recorded a slight increase in annual operating profit.That profit growth was largely driven by a 30 percent increase in digital subs

5、cription revenue.Our subscription products News,Cooking and Games(formerly Crossword)broke all previous records for annual net additions.We know 2020 was likely an outlier year for net subscription growth.Indeed,the news cycle will change and audiences will fluctuate,which could mean considerable va

6、riability in net subscription additions in any given quarter;however,we believe we remain well positioned to deliver continuous growth.Were more than a year into our registration-based customer journey,and were encouraged to see that while many readers subscribe in moments of high news need,plenty o