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Revenue
12 Months Ended
Dec. 26, 2021
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, Cooking, Audm and Wirecutter (to which a subscription option was launched during the third quarter of 2021) products (“other digital-only 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. Our digital advertising offerings include solutions that use proprietary first-party data — rather than third-party data — to generate predictive insights and help inform our clients’ advertising strategies while leveraging our audiences in privacy-forward ways. Other digital advertising includes advertising revenues generated by open-market programmatic advertising, creative services fees associated with branded content, advertisements appearing on our Wirecutter product and classified advertising. 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, commercial printing, the leasing of floors in the Company Headquarters, retail commerce, television and film, our student subscription sponsorship program and our live events business.
Subscription, advertising and other revenues were as follows:
Years Ended
(In thousands)December 26, 2021As %
of total
December 27, 2020As %
of total
December 29, 2019As %
of total
Subscription$1,362,115 65.6 %$1,195,368 67.0 %$1,083,851 59.8 %
Advertising497,536 24.0 %392,420 22.0 %530,678 29.3 %
Other (1)
215,226 10.3 %195,851 11.0 %197,655 10.9 %
Total$2,074,877 100.0 %$1,783,639 100.0 %$1,812,184 100.0 %
(1) Other revenue includes building rental revenue, which is not under the scope of Topic 606. Building rental revenue was approximately $27 million, $29 million and $31 million for the years ended December 26, 2021, December 27, 2020, and December 29, 2019, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the years ended December 26, 2021, December 27, 2020, and December 29, 2019:
Years Ended
(In thousands)December 26, 2021As %
of total
December 27, 2020As %
of total
December 29, 2019As %
of total
Digital-only subscription revenues:
News product subscription revenues(1)
$693,994 50.9 %$543,578 45.5 %$426,125 39.3 %
Other product subscription revenues(2)
79,888 5.9 %54,702 4.6 %34,327 3.2 %
Subtotal digital-only subscriptions773,882 56.8 %598,280 50.0 %460,452 42.5 %
Print subscription revenues
Domestic home delivery subscription revenues(3)
529,039 38.8 %528,970 44.3 %524,543 48.4 %
Single-copy, NYT International and other subscription revenues(4)
59,194 4.4 %68,118 5.7 %98,856 9.1 %
Subtotal print subscription revenues588,233 43.2 %597,088 50.0 %623,399 57.5 %
Total subscription revenues$1,362,115 100.0 %1,195,368 100.0 %$1,083,851 100.0 %
(1) Includes revenues from subscriptions to the Company’s news product. News product subscription packages that include access to the Company’s Games, Cooking and Wirecutter products are also included in this category.
(2) Includes revenues from standalone subscriptions to the Company’s other digital-only products. During the third quarter of 2021, the Company launched a Wirecutter subscription option.
(3) Includes access to the Company’s digital news, Games, Cooking and Wirecutter 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 26, 2021, December 27, 2020, and December 29, 2019:
Years Ended
(In thousands)December 26, 2021As %
of total
December 27, 2020As %
of total
December 29, 2019As %
of total
Advertising revenues
Digital$308,616 62.0 %$228,594 58.3 %$260,454 49.1 %
Print188,920 38.0 %163,826 41.7 %270,224 50.9 %
Total advertising$497,536 100.0 %$392,420 100.0 %$530,678 100.0 %
Performance Obligations
We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of December 26, 2021, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $123 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $42 million, $20 million, and $61 million will be recognized in 2022, 2023 and thereafter through 2029, respectively.
Contract Assets
As of December 26, 2021, and December 27, 2020, the Company had $3.4 million and $1.8 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.