News Corp’s newspaper squeeze tests the subscription story
Digital subscriber growth at The Times sits alongside falling earnings in its wider division. The figures demand a closer look at what customers pay and what it costs to keep them.

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News Corp has added digital subscribers at The Times and The Sunday Times, yet earnings have fallen at their wider division. The contrast is a warning against treating subscription totals as proof of a healthy business. Useful paid products can fund journalism; businesses still carrying declining print income face a harder bill. The investment decision is which customers can be served profitably over time.
For the quarter to 30 September, News Media reported $18 million of segment EBITDA, News Corp’s adjusted operating earnings measure, down 40%. The Times titles, including the Times Literary Supplement, ended September with 686,000 digital subscribers, against 640,000 a year earlier. The division also contains Australian and US operations and broadcasting, so its results do not establish that Times profit fell.
That distinction matters to newsroom budgets. A growing paid audience can support investment without yet offsetting the cost of the wider business. Publishers need evidence of what customers pay, renew and use.
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Strategy

Future shows why publishers need more than a place in an AI answer
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Audiences
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Revenue
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- Revenue Black Ballad turns a beauty panel into repeat business
- Revenue Mail Metro Media makes fewer competing ads a product worth selling
AI & Technology
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Platforms & Discovery
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Policy & Rights
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Products & Formats
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People & Skills
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