Cutting Through the Noise: Why NYT Sees Video as Its Next Battleground

• The New York Times reported revenue of $712.2 million on adjusted earnings of 61 cents per share. Wall Street analysts surveyed by Yahoo Finance expected $700.25 million in revenue and 47 cents per share
• CEO Meredith Kopit Levien prioritized the paper’s video strategy, eager to make the Times the “preferred brand for watching news”
• As its AI litigation costs reached $4.2 million, the Times is open to more licensing deals following its Amazon agreement

The New York Times sees video as a “big long-term opportunity” for its future growth, CEO Meredith Kopit Levien told analysts on Wednesday, as the paper more than doubled its number of reporter-led videos during 2026’s first quarter.

“What we’re really aiming for here is to establish the Times as a preferred brand for watching news,” Kopit Levien said.

The comment underscores the critical nature of the medium despite the Times’ print-based legacy — even if some media watchers cringe at the thought of another “pivot to video” moment, where companies shifted their resources to tap Facebook’s overinflated promise of ad revenue for videos on its platform. Nowadays, video is critical to cut through the noise of a fragmented media world.

The New York Times continues to stand as one of the few traditional media business with a relatively healthy operation. It surpassed 13 million subscribers in the quarter after it added 310,000 digital-only subscribers, bringing the paper closer to its goal of 15 million by 2027. Over the last year, the company has added 1.46 million digital-only subscribers.

Overall, the company saw first-quarter revenue rise 12% to $712.2 million on per-share earnings of 54 cents — 61 cents when excluding one-time costs. Wall Street had projected revenue of $700.3 million and EPS of 47 cents, according to Yahoo Finance.

Shares rose 9% to $83.58 on Wednesday.

A premium of strong journalism

Levien said the quarter reflected “strong demand for the uncompromised journalism and premium lifestyle content that The Times is uniquely capable of delivering.”

“We continued to execute against our strategic priorities, which are designed to build direct relationships and daily habits with millions more people,” she said in the company’s earnings release.

The company’s digital advertising revenue increased by 31.6% to $93.3 million, which the Times attributed to strong demand from its clients and a larger supply — in contrast to declining ad revenues seen elsewhere in media. Print advertising revenue decreased by 9.8% to $33.6 million. Kopit Levien said the array of journalism the Times publishes — along with its sister brands in Cooking, Games and the product-recommendation website Wirecutter — lures more advertisers, as the company can offer demographic metrics for various audiences engaging with its content.

“Relative to what another publisher might be able to do, because we have so much first-party data, all of that is working,” she said during the Times’ earnings call.

AI costs continue

In costs, the paper saw its legal costs related to its copyright infringement lawsuits with AI companies such as OpenAI and Perplexity AI hit $4.2 million in 2026, down from $4.4 million in 2025’s first quarter. The Times does have an AI licensing deal with Amazon, and Kopit Levien said the company was open to more deals if they aligned with its values of a fair exchange and letting the paper control the use of its content.

“We believe we make journalism that is increasingly rare and increasingly valuable at real scale,” she said. “That’s going to be valuable to everyone, the consumers and the [large-language models] who need high-quality work powering their system.”

Its overall operating costs hit $621.6 million, up 7.7%, which the company said was due to higher pay and benefits related to its journalistic work.

Video efforts on the rise

During the company’s earnings call on Wednesday, Kopit Levien attributed much of the company’s success to its journalistic merit, including investigations into Cesar Chavez and the ongoing coverage of the war in Iran. But its video efforts are increasingly paramount, she said, pointing to how the Times initially restricted its Taylor Swift interview for its “30 Greatest Living American Songwriters” list to its website.

Some of that renewed focus stems from the decline of linear television, which has seen audiences pivot toward video-based platforms such as YouTube and TikTok. Kopit Levien said the Times viewed YouTube as a way to lure audiences to its platforms, helping it build awareness around the paper’s own video distribution efforts.

“We want to win the moment,” Kopit Levien said. “When something big is happening in the world, and people are looking for, ‘Where do I get the high-quality information on what’s happening here, what facts are, what this means,’ we want to win that moment, and we are endeavoring to do that in every way we possibly can. Ideally at our destinations, but in general, that’s the aim.”

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