The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: David Karnovsky - JPMorgan Chase & Co - Analyst
: Meredith, on advertising, the result was really stand out for The Times or even compared to other digital platforms. I just want to
see if you could expand on the acceleration here? What are the key factors kind of driving this in terms of your own tech enhancements
or maybe expanding inventory to The Athletic or Games?
Question: David Karnovsky - JPMorgan Chase & Co - Analyst
: Okay. And then on the Amazon licensing deal, can you just speak to what you found appealing in terms of extending your editorial
content to these platforms. And then with regards to the Amazon using the material to train their AI models, what is it about the
agreement maybe in terms of either compensation or guardrails that made you comfortable licensing your content in this way?
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AUGUST 06, 2025 / 12:00PM, NYT.N - Q2 2025 New York Times Co Earnings Call
Question: David Karnovsky - JPMorgan Chase & Co - Analyst
: Thank you.
Question: Jason Bazinet - Citi Infrastructure Investments LLC - Analyst
: I just had two quick questions. You guys are making great progress on your goal towards 15 million subs, but I still get a lot of investors
that just treat that you're not going to sort of hit that. So it sounds like you remain confident. Is there any update sort of on the timing
when you expect to 15 million?
Question: Jason Bazinet - Citi Infrastructure Investments LLC - Analyst
: Very helpful. Thank you.
Question: Jason Bazinet - Citi Infrastructure Investments LLC - Analyst
: Well, the only other question I got from investors is on the Amazon AI deal, if that was included in your guidance.
Question: Jason Bazinet - Citi Infrastructure Investments LLC - Analyst
: Thank you very much.
Question: Benjamin Soff - Deutsche Bank AG - Analyst
: You guys hit your target for 50% of the base being bundled this quarter. Can you reflect on the progress you've made with the bundle
strategy to date and share some thoughts on where you think adoption of the bundle can go from here? I'm also curious to hear
about this new family plan subscription that you talked about. Thanks.
Question: Benjamin Soff - Deutsche Bank AG - Analyst
: Great. Thank you.
Question: Thomas Yeh - Morgan Stanley - Analyst
: Meredith, on your earlier point about your larger user base, you've spoken about traffic headwinds related to the AI overviews in
the past. Can you maybe just talk about whether you've seen these trends intensify in recent months and what you're doing differently
to drive that top of funnel health that you mentioned as a priority?
Question: Thomas Yeh - Morgan Stanley - Analyst
: Okay. Great. And maybe more in the weeds one. I noticed the length of bundled promotional pricing varies at times in terms of the
offer that you're providing consumers, sometimes it's six months, sometimes it's a year. Anything to note there in terms of your
selling strategy and your approach to acclimating consumers towards the value of the bundle? Should we think about the cadence
of eligible price graduations still building through the year and into the next?
Question: Thomas Yeh - Morgan Stanley - Analyst
: Understood. That's very helpful. Thank you so much.
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