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REVENUE
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
We generate revenues principally from subscriptions and advertising.
Subscription revenues consist of revenues from subscriptions to our digital and print products (which include our news product, as well as The Athletic and our Audio, Cooking, Games and Wirecutter products), and single-copy and bulk sales of our print products. Subscription revenues are based on both the number of digital-only subscriptions and copies of the printed newspaper sold, and the rates charged to the respective customers.
Advertising revenue is primarily derived from advertisers (such as luxury goods, technology and financial companies) promoting products, services or brands on digital platforms in the form of display, audio, email and video ads; in print in the form of column-inch ads; and at live events. Advertising revenue is primarily determined by the volume (e.g., impressions or column inches), rate and mix of advertisements. Digital advertising includes (i) display revenue (which includes website and mobile applications); and (ii) non-display revenues generated from advertisements placed in audio, email, and video, as well as revenues generated by creative services fees. Advertisements are sold either directly to marketers by our advertising sales teams or, for a smaller proportion of advertising revenue, through programmatic auctions run by third-party ad exchanges. Print advertising includes revenue from column-inch ads and classified advertising, as well as preprinted advertising, also known as freestanding inserts.
Affiliate, licensing and other revenues primarily consist of revenues from licensing, Wirecutter affiliate referrals, commercial printing, the leasing of floors in our New York headquarters building located at 620 Eighth Avenue, New York, New York (the “Company Headquarters”), our live events business and retail commerce.
Subscription; advertising; and affiliate, licensing and other revenues were as follows:
For the Quarters EndedFor the Six Months Ended
(In thousands)June 30, 2026As % of totalJune 30, 2025As % of totalJune 30, 2026As % of totalJune 30, 2025As % of total
Subscription$537,880 70.5 %$481,420 70.2 %$1,054,751 71.5 %$945,677 71.5 %
Advertising149,123 19.6 %133,974 19.5 %275,947 18.7 %242,050 18.3 %
Affiliate, licensing and other(1)
75,452 9.9 %70,479 10.3 %143,993 9.8 %134,056 10.2 %
Total revenues$762,455 100.0 %$685,873 100.0 %$1,474,691 100.0 %$1,321,783 100.0 %
(1)Affiliate, licensing and other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was $6.7 million for the second quarters of both 2026 and 2025, and $13.5 million and $13.4 million for the first six months of 2026 and 2025, respectively.
The following table summarizes digital-only and print subscription revenues, which are components of subscription revenues above, for the second quarters and first six months ended June 30, 2026, and June 30, 2025:
For the Quarters EndedFor the Six Months Ended
(In thousands)June 30, 2026As % of totalJune 30, 2025As % of totalJune 30, 2026As % of totalJune 30, 2025As % of total
Digital-only subscription revenues(1)
$407,927 75.8 %$350,353 72.8 %$796,971 75.6 %$685,379 72.5 %
Print subscription revenues(2)
129,953 24.2 %131,067 27.2 %257,780 24.4 %260,298 27.5 %
Total subscription revenues$537,880 100.0 %$481,420 100.0 %$1,054,751 100.0 %$945,677 100.0 %
(1)Includes bundled and standalone subscriptions to our news product, as well as to The Athletic and our Audio, Cooking, Games and Wirecutter products.
(2)Includes domestic home-delivery subscriptions, which include access to our digital products. Also includes single-copy, NYT International and other subscriptions.
The following table summarizes digital and print advertising revenues, which are components of advertising revenues above, for the second quarters and first six months ended June 30, 2026, and June 30, 2025:
For the Quarters EndedFor the Six Months Ended
(In thousands)June 30, 2026As % of totalJune 30, 2025As % of totalJune 30, 2026As % of totalJune 30, 2025As % of total
Digital advertising revenues$113,961 76.4 %$94,422 70.5 %$207,216 75.1 %$165,287 68.3 %
Print advertising revenues35,162 23.6 %39,552 29.5 %68,731 24.9 %76,763 31.7 %
Total advertising revenues$149,123 100.0 %$133,974 100.0 %$275,947 100.0 %$242,050 100.0 %
Performance Obligations
We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of June 30, 2026, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $106 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $52 million, $40 million and $14 million will be recognized in the remainder of 2026, 2027 and thereafter through 2030, respectively.
Unexpired Subscriptions
Payments for subscriptions are typically due upfront, and the revenue is recognized ratably over the subscription period. The proceeds are recorded within Unexpired subscriptions revenue in the Condensed Consolidated Balance Sheets. Total unexpired subscriptions as of December 31, 2025, were $207.6 million, of which approximately $170.1 million was recognized as revenues during the six months ended June 30, 2026.