Revenue

12 Months Ended

Dec. 27, 2020

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 our Games (previously Crossword), Cooking and Audm 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 revenue is principally from advertisers (such as technology, financial and luxury goods companies) promoting products, services or brands on digital platforms in the form of display ads, audio and video, and in print, in the form of column-inch ads, and it is primarily derived from offerings sold directly to marketers by our advertising sales teams. A smaller 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 (e.g., impressions), rate and mix of advertisements. Digital advertising includes our core digital advertising business and other digital advertising. Our core digital advertising business includes direct-sold website, mobile application, podcast, email and video advertisements. Direct-sold display advertising, a component of core digital advertising, includes offerings on websites and mobile applications sold directly to marketers by our advertising sales teams. Other digital advertising includes open-market programmatic advertising and creative services fees. Print advertising includes revenue from column-inch ads and classified advertising, including line-ads as well as preprinted advertising, also known as freestanding inserts.

Other revenues primarily consist of revenues from licensing, Wirecutter affiliate referrals, the leasing of floors in the Company Headquarters, commercial printing, television and film, retail commerce and our live events business.

Subscription, advertising and other revenues were as follows:

	Years Ended
(In thousands)	December 27, 2020		December 29, 2019		December 30, 2018
Subscription	$	1,195,368	$	1,083,851	$	1,042,571
Advertising	392,420		530,678		558,253
Other (1)	195,851		197,655		147,774
Total	$	1,783,639	$	1,812,184	$	1,748,598

(1) Other revenue includes building rental revenue, which is not under the scope of Topic 606. Building rental revenue was approximately $29 million, $31 million and $23 million for the years ended December 27, 2020, December 29, 2019, and December 30, 2018, respectively.

The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the years ended December 27, 2020, December 29, 2019, and December 30, 2018:

	Years Ended
(In thousands)	December 27, 2020		December 29, 2019		December 30, 2018
Digital-only subscription revenues:
News product subscription revenues(1)	$	543,578	$	426,125	$	378,484
Other product subscription revenues(2)	54,702		34,327		22,136
Subtotal digital-only subscriptions	598,280		460,452		400,620
Print subscription revenues
Domestic home delivery subscription revenues(3)	528,970		524,543		532,748
Single-copy, NYT International and other subscription revenues(4)	68,118		98,856		109,203
Subtotal print subscription revenues	597,088		623,399		641,951
Total subscription revenues	$	1,195,368	$	1,083,851	$	1,042,571
(1) Includes revenues from subscriptions to the Company’s news product. News product subscription packages that include access to the Company’s Games and Cooking products are also included in this category.
(2) Includes revenues from standalone subscriptions to the Company’s Games, Cooking and Audm products.
(3) Includes free access to some or all of the Company’s digital products.
(4) NYT International is the international edition of our print newspaper.

The following table summarizes digital and print advertising revenues for the years ended December 27, 2020, December 29, 2019, and December 30, 2018:

	Years Ended
(In thousands)	December 27, 2020		December 29, 2019		December 30, 2018
Advertising revenues
Digital	$	228,594	$	260,454	$	258,873
Print	163,826		270,224		299,380
Total advertising	$	392,420	$	530,678	$	558,253

Performance Obligations

We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of December 27, 2020, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $125 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $50 million, $34 million, and $41 million will be recognized in 2021, 2022 and thereafter, respectively.

Contract Assets

As of December 27, 2020, and December 29, 2019, the Company had $1.8 million and $3.4 million, respectively, in contract assets recorded in the Consolidated Balance Sheet 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 $1.6 million for the year ended December 27, 2020, is due to consideration that was reclassified to Accounts receivable when invoiced based on the contractual billing schedules for the period ended December 27, 2020.