NEW YORK (Reuters) - attempt risky of the Commander of the New York Times to charge fees for readers of the site Web seeks to be dividends, although he still faces stiff challenges in rotating about a fall in revenue from advertising printed in its core business.
The company acquired more than 100,000 new subscribers since it introduced its digital subscription service on 28 March, representing at least 26 million in annual revenue and rascals early expectations for service.
"This is a great figure," analyst Evercore Partners, said Doug Arthur on digital subscribers. "I was looking () only for 200,000 subscribers in first year."
The compensation model is being closely watched by the newspapers of general interest, which are all new forms to obtain revenues decline in advertising revenues and print readership.
The search for additional $ only highlights the problems beset by newspapers, which have not benefited from the rise of advertising including jouite other media.
The New York Times, editor of the newspaper of its namesake and the Boston Globe, said Thursday that sales of print advertising dragged down of profit and revenues in the first quarter.
Other companies of newspapers as Gannett and Media General reported disappointing results for the first quarter that points to a decline in any modest progress last year.
Only a handful of specialized journals primarily in the financial news, namely, Wall Street Journal's News Corp and Financial Times of Pearson Plc, were able to charge online readers.
Rupert Murdoch News Corp., for example, introduced a service paying both of London and the Sunday Times in July. Collectively, the paper had 79 000 monthly digital subscribers at the end of February, up 50,000 October 31, 2010.
Digital journal started daily, News Corp for the iPad and other tablet computers, pas said subscribers how it added since it was launched at the beginning of February.
Figures of subscriber line of the New York Times do not include the sponsorship of the car manufacturer Lincoln has offered a free trial of readers, but includes a promotional offer reduced from 99-100.
Previous estimates for the New York Times pay model noted a slight decline of readers. Experian Hitwise online research firm, said last week that the number of people visiting NYTimes.com fell between 5% and 15% for a period of 12 days after the launch from the 12 days before.
Managers in New York Times said in a conference call that decline in traffic on the Web site were in expectations.
The company expects to spend $ 13 million in costs of promotional subscriptions online.
Total income has dropped from 3.6% to 566.5 million. Analysts on average of 37.6 million forecasts, according to Thomson Reuters I/B/E/s
Income advertising company decreased by 4.4 per cent on a 7.5 percent drop print advertising revenues. Digital advertising revenue increased by 4.5 per cent in the first quarter.
"Obviously, as any other newspaper company which reported, is not terrific," said analyst Benchmark Co Edward Atorino, who had noticed the ad remains volatile New York Times since executives said revenue April ad sales are a trend similar to the first quarter.
At About.com, a site online that doles of expert advice and in competition with sites like demand media, revenue fell to 10.2% to $ 31.1 million. Results of advertising on the site have been affected by the recent changes in search engine Google.
Shares of the New York Times have increased in the beginning of trade before slipping to be down 4.7% in afternoon trading.
Income net of the first quarter was $ 5.4 million, or 4 cents per share, compared with $ 12.8 million, or 8 cents per share for the same period last year.
Listing site Indeed, EPS adjusted excluding the partial sale of its investment in the parts list is of 2 cents per share, in accordance with the average estimate of analysts.
(Reported by Jennifer Saba; editing by Derek Caney, Andre Grenon and Tim Dobbyn)
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