Revenue

3 Months Ended

Mar. 29, 2020

Revenue from Contract with Customer [Abstract]

REVENUE

We generate revenues principally from subscriptions and advertising. Subscription revenues consist of revenues from subscriptions to our print and digital products (which include our news product, as well as our Crossword, Cooking and audio products) and single-copy and bulk sales of our print products. Subscription revenues are based on both the number of copies of the printed newspaper sold and digital-only subscriptions, and the rates charged to the respective customers.

Advertising revenues are primarily derived from offerings sold directly to marketers by our advertising sales team. A significantly smaller and diminishing proportion of our total advertising revenues is generated through programmatic auctions run by third-party ad exchanges. Advertising revenues are primarily determined by the volume, rate and mix of advertisements. Display advertising revenue is principally from advertisers promoting products, services or brands. Display advertising also includes advertisements that direct viewers to branded content on our platforms. Other print advertising revenue primarily includes classified advertising revenue. Other digital advertising revenue primarily includes creative services fees, including those associated with our branded content studio; advertising revenue from our podcasts; and advertising revenue generated by Wirecutter, our product review and recommendation website.

Other revenues primarily consist of revenues from licensing, the leasing of floors in the New York headquarters building located at 620 Eighth Avenue, New York, New York (the “Company Headquarters”), affiliate referrals, commercial printing, television and film (primarily from our television series, “The Weekly”), NYT Live (our live events business) and retail commerce.

Subscription, advertising and other revenues were as follows:



	For the Quarters Ended
(In thousands)	March 29, 2020		March 31, 2019
Subscription	$	285,434	$	270,810
Advertising	106,137		125,088
Other ⁽¹⁾	52,065		43,164
Total	$	443,636	$	439,062

⁽¹⁾ Other revenue includes building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was approximately $8 million for the quarters ended March 29, 2020 and March 31, 2019, respectively.

The following table summarizes print and digital subscription revenues, which are components of subscription revenues above, for the quarters ended March 29, 2020, and March 31, 2019:



	For the Quarters Ended
(In thousands)	March 29, 2020		March 31, 2019
Print subscription revenues	$	155,424	$	160,951
Digital-only subscription revenues:
News product subscription revenues⁽¹⁾	118,958		102,346
Other product subscription revenues⁽²⁾	11,052		7,513
Subtotal digital-only subscriptions	130,010		109,859
Total subscription revenues	$	285,434	$	270,810
⁽¹⁾Includes revenues from subscriptions to the Company’s news product. News product subscription packages that include access to the Company’s Crossword and Cooking products are also included in this category.
⁽²⁾Includes revenues from standalone subscriptions to the Company’s Crossword, Cooking and audio products.

Advertising revenues (print and digital) by category were as follows:



	For the Quarters Ended
	March 29, 2020						March 31, 2019
(In thousands)	Print		Digital		Total		Print		Digital		Total
Advertising revenues:
Display	$	48,159	$	39,894	$	88,053	$	62,342	$	42,112	$	104,454
Other	6,820		11,264		18,084		7,203		13,431		20,634
Total advertising	$	54,979	$	51,158	$	106,137	$	69,545	$	55,543	$	125,088

Performance Obligations

We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of March 29, 2020, the aggregate amount of transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $131 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $33 million, $32 million and $66 million will be recognized in the remainder of 2020, 2021 and thereafter, respectively.

Contract Assets

As of March 29, 2020, and December 29, 2019, the Company had $3.0 million and $3.4 million, respectively, in contract assets recorded in the Condensed Consolidated Balance Sheets related to digital archiving licensing revenue. The contract asset is reclassified to Accounts receivable when the customer is invoiced based on the contractual billing schedule. The decrease in the contract assets balance of $0.4 million for the quarter ended March 29, 2020, is due to consideration that was reclassified to Accounts receivable when invoiced based on the contractual billing schedules for the period ended March 29, 2020.