The New York Times Company (NYSE:NYT) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET
Company Participants
Anthony DiClemente - Senior Vice President of Investor Relations
Meredith Kopit Levien - President and Chief Executive Officer
William Bardeen - Executive Vice President and Chief Financial Officer
Conference Call Participants
David Karnovsky - JPMorgan
Jason Bazinet - Citi
Vasily Karasyov - Cannonball Research
Thomas Yeh - Morgan Stanley
Douglas Arthur - Huber Research Partners
Operator
Good morning and welcome to The New York Times Company's First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please also note today's event is being recorded.
At this time, I'd like to turn the floor over to Anthony DiClemente, Senior Vice President of Investor Relations. Sir, please go ahead.
Anthony DiClemente
Thank you, and welcome everyone to The New York Times Company's first 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 would like to remind you that management will make forward-looking statements during the course of this call. These statements are based on 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 2023 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. In addition to our earnings press release, we have also posted a slide presentation relating to our results, on our website at investors.nytco.com.
And finally, please note that a copy of our prepared remarks from this morning's call will be posted to our investor website shortly after we conclude.
And with that, I will turn the call over to Meredith.
Meredith Kopit Levien
Thanks, Anthony, and good morning everyone. As our Q1 results demonstrate, we're off to a strong start this year. Our strategy to become the essential subscription for every curious person seeking to understand and engage with the world is working as designed and is positioning us to sustain our growth through dynamic media environment.
Let me describe how. First, our world-class news destination combined with our distinctive products in games, sports, cooking and shopping advice are attracting large and passionate audiences in giant spaces. Each of these complementary products addresses a different need in people's lives, meaning there's always a reason to seek out the time; second, our subscribers are deeply engaged. The share of subscribers spending time on our site and app each week is now at its highest point since the surge we saw during the pandemic. That's a clear sign that we're delivering value to users and increasing their likelihood of building long-term relationships with The Times; third, the high level of engagement we see reinforces our conviction that we can grow digital only ARPU year-on-year as we use our multiple pricing and monetization levers.