The Athletic reports Q2 loss but increase in revenue

The Athletic lost $7.8M during the second quarter, down from a $12.6M loss during the same period last year, but despite the loss, its "revenue grew" more than 55% to $30.4M during that time, according to Katie Robertson of the N.Y. TIMES. Advertising revenue “more than doubled” in that period, to $5.4M. The N.Y Times, which owns The Athletic, "added display advertising to The Athletic’s website and app in September.” At the end of the quarter, there were “more than 3.6 million subscribers” with either a “stand-alone Athletic subscription or access to the sports site through a Times bundle subscription.” Last month, the Times said that it would “ disband its sports desk in the coming months and instead integrate more sports coverage from The Athletic.” The Times yesterday said that it “added 180,000 new digital subscribers” in its second quarter and brought its total “close to 10 million subscribers” (N.Y. TIMES, 8/8).