The New York Times claims to have signed up more than 100,000 paying digital subscribers in less than four weeks since its online paid content system was launched.

The subscription model, which was launched in Canada on 17 March, and then globally on 28 March, offers a monthly reading limit of 20 articles online before users must sign up.

The monthly allowance applies to content including slideshows and video, although the homepage of the site, all section fronts and the Top News section of the Times' smartphone and tablet applications will remain free to view.

According to the New York Times Company's first quarter results for 2011, published today, operating profit has dropped to $31.1 million compared with $52.7 million for the same period in 2010. It also recorded a decrease in total revenues of 3.6 per cent.

In a statement Janet Robinson, president and chief executive officer of the New York Times Company said the launch of its digital subscription packages online "brings our plan for a new revenue stream to life".

"In mid-March, we introduced Times digital subscription packages in Canada and globally at the beginning of the second quarter, and we are pleased with the number of subscribers we have acquired to date, as initial volume has meaningfully exceeded our expectations.

"The advertising marketplace faced increased pressure in the first quarter reflecting the uneven economic environment, recent global events and secular forces. Although digital advertising grew 4.5 percent, it could not fully offset the 7.5 percent decline in print advertising revenues in the quarter.

"Our digital initiatives have increasingly contributed to our revenue mix providing meaningful diversification of our businesses across proliferating platforms. Accordingly, advertising revenues from our digital products made up 28 percent of the company's total advertising revenues in the first quarter."

In the first quarter total digital revenues increased by 6.1 per cent to $95.9 million and digital advertising revenues increased 4.5 per cent to $83.6 million, according to today's report.

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