The New York Times Company reported robust third-quarter results for 2025, marking a milestone in its digital evolution as total subscribers surpassed 12 million for the first time. The company reached 12.33 million subscribers, buoyed by 460,000 new digital-only additions — a step toward its 15 million target for 2027.
Subscription revenue climbed 9.1% to $494.6 million, led by a 14% rise in digital-only subscriptions to $367.4 million. Growth was fuelled by bundled offerings that combine core news with services such as Games, Cooking and The Athletic. These bundles have offset a decline in news-only subscriptions, reflecting a consumer shift toward packages that deliver a wider mix of content and experiences.
The incredible quarterly increase of nearly half a million subscribers was also boosted by the introduction of family subscriptions, which allow subscribers to share their subscription at a discounted price.
Digital advertising also performed strongly, up 20.3% year-over-year, driven by higher demand and a greater volume of ad inventory. The gains continue to balance the steady decline in print, where subscription revenue fell 3% to $127.2 million amid lower home-delivery and single-copy sales.
The company reported net income of $81.6 million, up 27.3% from a year earlier. Earnings per share came in at 50 cents, with adjusted EPS at 59 cents — ahead of Wall Street’s 53-cent consensus. Total revenue rose 9.5% to $700.8 million, beating analyst expectations of $692 million.
The Times also recorded a $2.4 million pre-tax expense related to its copyright lawsuit against OpenAI and Microsoft, underlining the growing tension between news organisations and tech companies over intellectual property in the AI era.
CEO Meredith Kopit Levien told investors the company’s strategy is “delivering strong revenue growth and significant free cash flow.” The Times ended the quarter with $1.1 billion in cash, aided by lower tax payments linked to the One Big Beautiful Bill Act passed under the Trump administration.
Levien also outlined new initiatives in video and AI. The recently launched “Watch” tab in the Times app features video podcasts and original visual journalism tied to existing products such as Cooking and The Athletic. While monetisation for video is still developing, the company sees strong potential for deeper engagement and new advertising opportunities.
AI integration continues to advance through features such as article voice narration, automated metric conversions for Cooking and Wirecutter, and improved marketing analytics. Levien said these tools are designed to make journalism more accessible and personalised.
Operating costs rose slightly due to continued investment in journalism and product innovation, but operating margins and free cash flow strengthened. The company generated $392.9 million in free cash flow during the first nine months of 2025, up from $237.7 million a year earlier.
Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative presents recent financial results for Q3 2025, with no evidence of prior publication. TheWrap’s report is the earliest known publication of this information. The inclusion of updated data, such as the addition of 460,000 digital-only subscribers, justifies a high freshness score.
Quotes check
Score:
10
Notes:
Direct quotes from CEO Meredith Kopit Levien are unique to this report, with no prior matches found online. This suggests potentially original or exclusive content.
Source reliability
Score:
7
Notes:
TheWrap is a reputable entertainment and media news outlet. However, it is not as established as major news organisations like the BBC or Reuters. The report cites specific figures and statements, enhancing its credibility.
Plausability check
Score:
9
Notes:
The reported financial figures align with The New York Times’ recent performance trends. The addition of 460,000 digital-only subscribers is consistent with the company’s strategic focus on digital growth. The mention of a $2.4 million pre-tax expense related to the lawsuit against OpenAI and Microsoft is plausible, given the ongoing legal challenges. The report’s tone and language are consistent with typical corporate communications.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative provides fresh, original content with direct quotes from CEO Meredith Kopit Levien, supported by specific financial figures that align with The New York Times’ recent performance trends. The source, TheWrap, is a reputable outlet, and the information is plausible and consistent with known data. No significant credibility risks were identified.
