The New York Times Co. for the first time Wednesday reported higher revenues from its digital business than its print operations, a “watershed moment” in the newspaper’s nearly 170-year history, according to CEO Mark Thompson.
“And we don’t think it’s likely we’re going to go back from this moment,” Thompson said on CNBC’s “Power Lunch.”
The Times reported $185.5 million in revenues from digital subscriptions and advertisements, compared with $175.4 million in revenues from print subscriptions and advertisements. In the year-ago quarter, the company reported $220.56 million in print subscription and ad revenues and $170.66 million in digital subscription and ad revenues.