New York Times-owned The Athletic reports quarterly profit for first time
The New York Times building in Manhattan, 26 October 2022. Picture: Beata Zawrzel/NurPhoto via Getty Images The Athletic made a profit in the third quarter of 2024 for the first time since its launch, according to the latest financial results from parent publisher The New York Times Company. NYT Co bought the loss-making sports news brand, which launched in 2016, for $550m in January 2022 and it has taken two-and-a-half years since then to get it into quarterly profit of $2.6m. This is an improvement from a loss of $2.4m in Q2, of $8.7m in Q1, $4.4m in Q4 2023 and $7.9m in Q3 last year. The publisher said the improvement was down to higher revenue in both subscriptions and advertising. Revenue was up 30% year-on-year to $44.7m for the quarter, with subscriptions making up 70% of that total for The Athletic, advertising (which was up 7% to $9m due to growth in direct-sold display) comprising 10% and other revenue such as Apple licensing making up the rest. Thanks for subscribing. Close On an investor …