The New York Times Company (NYSE:NYT) Q2 2023 Earnings Conference Call August 8, 2023 8:00 AM ET
Company Participants
Mike Brown - Vice President, Assistant General Counsel and Corporate Secretary
Meredith Kopit Levien - President and Chief Executive Officer
Will Bardeen - Executive Vice President and Chief Financial Officer
Conference Call Participants
Doug Arthur - Huber Research Partners
Ashton Welles - Evercore ISI
Thomas Yeh - Morgan Stanley
David Karnovsky - JPMorgan
Vasily Karasyov - Cannonball Research
Operator
Good morning, and welcome to the New York Times Company's Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Mike Brown, Vice President, Assistant General Counsel and Corporate Secretary. Please go ahead.
Mike Brown
Thank you, and welcome to the New York Times Company's second quarter 2023 earnings conference call. On the call today, we have Meredith Kopit Levien, President and Chief Executive Officer; and Will Bardeen, Executive Vice President and Chief Financial Officer.
Before we begin, I'd like to remind you that management will make forward-looking statements during the course of this call. These statements are based on our current expectations and assumptions, which may change over time. Our actual results could differ materially due to a number of risks and uncertainties that are described in the company's 2022 10-K and subsequent SEC filings.
In addition, our presentation will include non-GAAP financial measures, and we have provided reconciliations to the most comparable GAAP measures in our earnings press release, which is available on our website at investors.nytco.com. And finally, please note that a copy of the prepared remarks from this morning's call will be posted to our investor website shortly after we conclude.
With that, I'll turn the call over to Meredith Kopit Levien.
Meredith Kopit Levien
Thanks, Mike, and good morning, everyone. For more than a year, we've been executing on our strategy to become the essential subscription for every curious English-speaking person seeking to understand and engage with the world. Our strong results this quarter demonstrate that the strategy is working as designed.
Let me share the highlights. Digital subscription revenue is growing, thanks to gains in both subscriber volume and ARPU. Subscriber engagement remains high and is fueling growth in all of our major revenue streams, including digital subscriptions, digital advertising and affiliate, and we've continued to exercise cost discipline even while investing into and enhancing the value of our products and bundles.