The New York Times added 1.4 million digital-only subscribers in 2025, including about 450,000 in the last quarter of the year, the company said on Wednesday.
The Times ended the year with 12.78 million total subscribers, a jump that puts it on a pace to reach its stated goal of 15 million by the end of 2027.
The increase was due in part to a change in how the company counts subscribers. In September, The Times introduced family subscriptions, which allow up to four users to share one account. Each of those subscriptions, which are priced higher than individual subscriptions, is counted as two subscribers.
Less than 3 percent of the digital-only subscribers at the end of 2025 were the additional subscribers from family subscriptions, the company said.
Subscriptions for more than one product — The Times offers games, cooking recipes and tips, product recommendations, and sports coverage alongside the core news report — continue to increase. By the end of the fourth quarter, just over half of the total subscriber base paid for access to multiple products. (The company said it would no longer break out that figure in future earnings reports.)
Total revenue for the quarter reached $802.3 million, up 10.4 percent from a year earlier. Adjusted operating profit increased 12.8 percent, to $192.3 million. Operating costs rose 10.5 percent to $640.7 million.
Digital subscription revenue increased 13.9 percent year over year to $381.5 million for the fourth quarter, and total subscription revenue grew 9.4 percent to $510.5 million. Digital advertising revenue rose 24.9 percent year over year to $147.2 million, which the company attributed to strong marketer demand and new spots for advertising.
Revenue from affiliate and licensing increased 5.5 percent year over year to $100.2 million in the quarter.
Average revenue per digital subscriber was $9.72 for the fourth quarter, increasing less than 1 percent from a year earlier. The metric is used to help measure the health of the subscription business.
Print subscription revenue continued to contract, falling 2 percent from a year earlier to $129 million. The Times had 570,000 print subscribers at the end of 2025, down from 610,000 at the end of 2024.
Meredith Kopit Levien, chief executive of The New York Times Company, said in a statement that the fourth-quarter results “demonstrated that our strategy continues to work as designed.”
The company said it had $1.2 billion in cash and marketable securities at the end of 2025. It also said its board of directors had voted to pay a quarterly dividend of 23 cents a share, up 5 cents from the previous quarter.
Katie Robertson covers the media industry for The Times. Email: [email protected]
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