Revenue

12 Months Ended

Dec. 31, 2022

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 The Athletic and our Cooking, Games, Audm and Wirecutter 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 generated 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. Advertising revenue is generated primarily 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 revenue is 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 as well as preprinted advertising, also known as freestanding inserts.

The New York Times Group has revenue from all categories discussed above. The Athletic has revenue from direct-sold display advertising, podcast, email and video advertisements. There was no significant other digital advertising revenue generated from The Athletic in 2022. There is no print advertising revenue generated from The Athletic.

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

Subscription, advertising and other revenues were as follows:

	Years Ended
(In thousands)	December 31, 2022		As % of total		December 26, 2021		As % of total		December 27, 2020		As % of total
Subscription	$	1,552,362	67.3	%	$	1,362,115	65.6	%	$	1,195,368	67.0	%
Advertising	523,288		22.7	%	497,536		24.0	%	392,420		22.0	%
Other (1)	232,671		10.0	%	215,226		10.4	%	195,851		11.0	%
Total	$	2,308,321	100.0	%	$	2,074,877	100.0	%	$	1,783,639	100.0	%

(1) Other revenue includes building rental revenue, which is not under the scope of Topic 606. Building rental revenue was approximately $29 million, $27 million and $29 million for the years ended December 31, 2022, December 26, 2021, and December 27, 2020, respectively.

The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the years ended December 31, 2022, December 26, 2021, and December 27, 2020:

	Years Ended
(In thousands)	December 31, 2022		As % of total		December 26, 2021		As % of total		December 27, 2020		As % of total
Digital-only subscription revenues(1)	$	978,574	63.0	%	$	773,882	56.8	%	$	598,280	50.0	%
Print subscription revenues
Domestic home delivery subscription revenues(2)	517,395		33.3	%	529,039		38.8	%	528,970		44.3	%
Single-copy, NYT International and other subscription revenues(3)	56,393		3.7	%	59,194		4.3	%	68,118		5.7	%
Subtotal print subscription revenues	573,788		37.0	%	588,233		43.2	%	597,088		50.0	%
Total subscription revenues	$	1,552,362	100.0	%	$	1,362,115	100.0	%	$	1,195,368	100.0	%
(1) Includes revenue from digital-only bundled and standalone subscriptions to our news product, as well as The Athletic and our Cooking, Games, Audm and Wirecutter products.
(2) Domestic home delivery subscriptions include access to our digital news product, as well as The Athletic and our Cooking, Games and Wirecutter products.
(3) NYT International is the international edition of our print newspaper.

The following table summarizes digital and print advertising revenues for the years ended December 31, 2022, December 26, 2021, and December 27, 2020:

	Years Ended
(In thousands)	December 31, 2022		As % of total		December 26, 2021		As % of total		December 27, 2020		As % of total
Advertising revenues
Digital	$	318,440	60.9	%	$	308,616	62.0	%	$	228,594	58.3	%
Print	204,848		39.1	%	188,920		38.0	%	163,826		41.7	%
Total advertising	$	523,288	100.0	%	$	497,536	100.0	%	$	392,420	100.0	%

Performance Obligations

We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of December 31, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $222 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $67 million, $68 million, and $87 million will be recognized in 2023, 2024 and thereafter through 2028, respectively.

Contract Assets

As of December 31, 2022, and December 26, 2021, the Company had $3.8 million and $3.4 million, respectively, in contract assets recorded in the 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.