Dive Brief:
- The New York Times Company reported a $14 million net loss for Q1, but said digital ad revenue shows promise.
- Digital advertising grew 11% in the first quarter, while print advertising dropped 11%.
- CEO Mark Thompson is optimistic about the digital sector, attributing the growth to “improved retention and higher traffic to the website, partially as a result of our recent audience development efforts.”
Dive Insight:
The drop in print advertising comes at no surprise, as print newspapers are continuing to focus more of their attention on the digital sphere in an attempt to stay afloat. The jump in digital ad revenue is a promising sign for The Times, as it seems to be adapting to the new landscape.
The news organization has recently produced some impressive digital native ads—most notably for Cole Haan and Netflix—that have set an industry standard for brand studio-produced content.
