However, when users were asked what the New York Times news bias rating should be, the average of the votes was actually Lean Left. 17a Its northwest of 1. The stronger US dollar saw News' December quarter revenue fall 7% to $US2.
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Within the context of our prudent capital structure, we will continue to evaluate opportunities for capital return. We're playing a long game here with ambitions to become a global leader in sports journalism. And then I've got a follow up on net adds. So that's what history would suggest.
We expect that positive ARPU trend to continue throughout 2023 as more subscribers transition to paying higher prices. As of July 2016, the AllSides Media Bias Rating for The New York Times was Lean Left; the majority of the almost 7, 000 of the AllSides community disagreed with the Lean Left rating. Less encouragingly, digital advertising revenue growth for the 4th quarter was sluggish. Other revenues increased approximately 9. But we feel pretty good about our ability to do that so far. Our strategic clarity and strong execution give us confidence that we can continue to manage costs well going forward. And I'll say on the bundle, something that's been very pleasing as we continue – obviously, we're driving more people to the bundle and all the ways we've described so far, but we're continuing to see bundle subscribers engage 10% to 20% better than news subscribers. Do slightly better than net.fr. I'll say a few things and, Roland, you'll add as you see fit.
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Anytime you encounter a difficult clue you will find it here. Less likely to happen nyt. We've also got a really good track record of adapting to exogenous changes in in the ecosystem. Overall performance was as expected given the stiff headwinds we anticipated. Times public editor Arthur Brisbane wrote in 2012, "When The Times covers a national presidential campaign, I have found that the lead editors and reporters are disciplined about enforcing fairness and balance, and usually succeed in doing so. For the final quarter the company said Operating profit fell to $US93.
And the 180, 000 was sequentially similar. This is a key metric because the data tells us that those subscribers using two or more products not only pay more, but are more likely to retain than those using only one product. Is like new better than very good. And finally, please note that a copy of the prepared remarks from this morning's call will be posted to our investor website shortly after we conclude. In 2004, Daniel Okrent, the then-public editor of The New York Times, wrote an editorial in which he explained that when covering some social issues, such as abortion and same-sex marriage, the paper did in fact have a liberal bias. It publishes for over 100 years in the NYT Magazine. Important Note: This page refers to the media bias rating for the New York Times' news content only.
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Our third quarter results support our confidence in our strategy, and reinforce our conviction in the long-term opportunity for The New York Times Company. So, I'd say that all feels broadly good. The headline has also been changed to " Capitol Police Officer Dies From Injuries in Pro-Trump Rampage. That saw it add 240, 000 digital-only subscribers in the fourth quarter, compared with 180, 000 in the three months to September. Just as a follow-up for Roland. The buyback is not time limited and is part of a new policy which the company says "aims to return at least 50% of free cash flow to shareholders in the form of dividends and share repurchases over the next three to five years, an increase from the target initially announced in June 2022. On the call today, we have Meredith Kopit Levien, President and Chief Executive Officer; and Roland Caputo, Executive Vice President and Chief Financial Officer. The New York Times: All the black ink that's fit to print –. I'll say we've got a strong history here of taking a measured approach and kind of testing and learning to positive effect. Question-and-Answer Session. They also give us the confidence to announce a new midterm target for capital return, a new share repurchase authorization and our fifth consecutive annual increase to the quarterly dividend payment. I'll say, as we've said for a long time, we continue to invest thoughtfully into the newsroom. The one thing I would add is that we didn't see any negative signs on the retention side of the business. How we determined this rating: -.
We made steady progress in the quarter toward becoming the essential subscription for every English-speaking person seeking to understand and engage with the world. For the quarter, digital-only subscriber ARPU decreased 8% compared to the prior year from $9. Just over 3% were attributed to individuals identified as taxpayers or taxpayer advocates. Both overall and digital advertising revenues are expected to decrease in the low single digits compared with the first quarter of 2022, mainly due to macroeconomic conditions and the comparison to a strong first quarter in 2022. Again, excluding the estimated impact of the 6 days, total advertising revenues decreased almost 2. This is largely consistent with the 105% funded status we reported at year-end 2021, a strong result in light of the general market performance in 2022. Notably, we continued to see higher engagement among bundle subscribers, with 10% to 20% more bundle subscribers engaging each week than news-only subscribers. As a matter of fact, it was tick better than we had seen recently. Meredith Kopit Levien - President and Chief Executive Officer. 3 million, a 10% increase, primarily due to the growth in BINGE and Kayo subscribers, partially offset by lower residential broadcast subscribers. We finished the year ahead of our expectations for The Athletic outperforming the adjusted operating profit assumptions we shared at the point of acquisition. Roland Caputo: Thank you, Meredith, and good morning. So we're quite happy about how that's working out.
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Higher revenues from Kayo and BINGE, driven by increases in both volume and pricing, and higher commercial revenues were partially offset by the impact from fewer residential broadcast subscribers and lower advertising revenues. Digital advertising exceeded guidance as a result of better-than-expected performance in programmatic advertising and also in direct sold advertising from the advocacy and entertainment categories. The American Enterprise Institute conducted a study of media bias in the coverage of President Biden's student loan forgiveness plan. Turning to the quarter.
3 million subscribers, with 10. The headwinds that we envisioned when we shared our mid-term AOP target have materialized, largely as we expected. On a constant currency basis, News Corp Australia saw revenue down 3%. Let me conclude with our outlook for the fourth quarter of 2022 on The New York Times Group, which does not include The Athletic. There's a bunch of stuff we don't control in overall audience. I think I think the moves we made and announced last February showed a bit of a shift in our philosophy, which we think was a positive step to be able to return capital to shareholders.
I think the durability of the subscription model would suggest that our visibility on revenue remains pretty good. So we still feel good about that. Follow New York Times Co (NYSE:NYT. Even still, we beat our adjusted operating profit expectation for 2022, which, as you'll recall, represents the base year for that profit target. Speaking of our appeal to a wide range of marketers: we officially launched display advertising on The Athletic at the end of the quarter.
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