(Reuters) -The New York Times forecast first-quarter subscription revenue growth below Wall Street estimates on Wednesday, signaling growing competition to attract new subscribers.
Major news organizations including CNN and The Verge recently started offering paid subscriptions for online content amid an intensely competitive and crowded market.
The New York Times expects subscription revenue growth of 7% to 10%, compared with analysts’ average estimate of 9.9% in the first quarter, according to data compiled by Visible Alpha.
It forecast digital-only quarterly subscription revenues of 14% to 17%, above expectations of 13.6%.
Total revenue in the fourth quarter ended Dec. 31 was $726.6 million, in line with the average estimates compiled by LSEG.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Pooja Desai)
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