Feb 5 (Reuters) -
The New York Times ( NYT ) forecast first-quarter
subscription revenue growth below Wall Street estimates on
Wednesday, signaling growing competition to attract new
subscribers.
Major news organizations including CNN and The Verge
recently started offering paid subscriptions for online content
amid an intensely competitive and crowded market.
The New York Times ( NYT ) expects subscription revenue growth
of 7% to 10%, compared with analysts' average estimate of 9.9%
in the first quarter, according to data compiled by Visible
Alpha.
It forecast digital-only quarterly subscription revenues
of 14% to 17%, above expectations of 13.6%.
Total revenue in the fourth quarter ended Dec. 31 was
$726.6 million, in line with the average estimates compiled by
LSEG.