The MediaBriefing reporting:
News UK subsidiary Times Newspapers, which runs the Times and Sunday
Times newspapers, recorded an operating profit of £1.7 million for the
financial year ending June 30 2014, as the newspapers steadily grew
their digital subscriber bases and shifted more of their readers into
long-term membership relationships.
The operating profit is the first for the two newspapers since 2001,
and follows losses of £6 million in 2013 and £70 million in 2009, before
the newspapers began charging for all online content.
News UK refused to reveal pre-tax profit for the newspapers and that
operating figure doesn't mean the newspapers are yet sustainable on
their own. At a press event in London, News UK chief marketing officer
Chris Duncan said the swing from loss to profit reflected the impact of
significant investment in areas such as unified subscription handling
and publishing, as well as journalism.
http://www.themediabriefing.com/article/membership-focus-helps-times-newspapers-make-first-profit-since-2001
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