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And there, we feel confident that we've got a good track record of adapting to whatever comes our way in terms of platforms and the ecosystem, but feel really good about subscriber engagement. The bottom line is that Disney and News are cutting and retrenching – with Disney offering a return to dividends for shareholders later this tear (News is paying its tony dividend of 10 US cents a share). Licensing revenues were lower primarily due to a one-time book deal in 2021. There's a possible restructure coming with Move, the 80%-owned US real estate listings business, on the block. We've done so now for the second quarter in a row. Who got it better than us. This was the first full quarter that The Athletic has been part of the bundle, and we began to more aggressively market it as such to prospects. 5% compared with 2021, primarily driven by declines in the advocacy and media categories. The New York Times public editor (ombudsman) Elizabeth Spayd wrote in 2016 that "Conservatives and even many moderates, see in The Times a blue-state worldview. The New York Times Bias Rated Lean Left in March 2013 AllSides Blind Bias Survey. In addition, we view progress on our bundle strategy as a key indicator of future revenue growth, as bundle subscribers pay roughly 50% more than news subscribers. I'll say we've got a strong history here of taking a measured approach and kind of testing and learning to positive effect. That happened at the very end of last quarter.
Is there any potential chance to increase that? Let me conclude with our outlook for the fourth quarter of 2022 on The New York Times Group, which does not include The Athletic. Just as a quick follow-up, Meredith, when you acquired The Athletic, I think you guided to a loss of $50 plus million for 2022. Is like new better than very good. 29a Word with dance or date. Our fourth quarter results also underscore the power and benefit of having diverse sources of revenue even beyond subscriptions and advertising, as we enjoyed a record quarter for affiliate revenue to Wirecutter, driven by a highly successful holiday shopping season. These cost discipline efforts are strategic, and we expect them to be sustainable.
David, to your question about the 53rd week, we're not able to ascribe costs perfectly to the 53rd week, but I think the way to think about it is that that week is worth about $10 million on an adjusted operating profit basis. But most of it happened this quarter. And given the strong relationship we've seen between subscriber, engagement and retention, we expect the shift towards the bundle to yield benefits that continue accruing well into the future. 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. Unless otherwise noted, this bias rating refers only to online news coverage, not TV, print, or radio about our bias rating methods. Given the uncertain macroeconomic environment, we continue to look closely at costs while strategically investing in areas that widen our moat, like journalism and digital product development.
Print also exceeded our expectations largely from the luxury and entertainment categories. 23a Messing around on a TV set. We recently passed the 1-year anniversary of our acquisition of The Athletic. We expect expense growth to slow in the second half of the year compared with this first quarter guidance. You should listen to them. There remains much uncertainty in the current environment, including macroeconomic pressure on advertising, shifting traffic patterns from the tech platform and a more varied news cycle but we've shown that we have a strategy and to manage through short-term challenges and emerge stronger. Roland Caputo: Thank you, Meredith, and good morning. 7a Monastery heads jurisdiction. Meredith, you noted in your prepared remarks, potentially increasing prices on the standalone products to drive bundle uptake.
A plurality of respondents who self-reported a personal bias of Right rated The New York Times as Left. But we're now living through a period of what I'd call prolonged inflation and we're paying close attention to what other companies are doing around inflation and price rises. If you are done solving this clue take a look below to the other clues found on today's puzzle in case you may need help with any of them. 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. Meredith, The Athletic did $5. And I would just say, in general, we continue to believe we're well on track for our medium term target as of next mile marker, 15 million subscribers by year-end 2027. The Times now has more than 9. But Roland may have more to say about the kind of specifics on reporting. Other Across Clues From NYT Todays Puzzle: - 1a Trick taking card game. In the meantime, we're working closely together to position us well for the arrival of our next CFO, a search for whom is well underway. We believe that strength underscores the value of our first-party data and premium ad products, our unique audio offerings, and the appeal of The Times brand and varied product set to a wide range of marketers. This is the last time you'll hear formally in this setting from Harlan Toplitzky who has served ably as Head of Investor Relations for The Times for the last 6 years. Including The Athletic, consolidated digital ARPU grew sequentially for the second consecutive quarter.
Second, we are intently focused on increasing ARPU through continued success at transitioning subscribers from promotions to full price, driving bundle uptake and experimenting with price increases on individual products for tenured subscribers. New York City metro area residents were more likely to say New York Times is Center. "Just as our company passed the stress-test of the pandemic with record profits, the initiatives now underway, including an expected 5 percent headcount reduction, or around 1, 250 positions this calendar year, will create a robust platform for future growth, " CEO Robert Thomson said in the earnings release. The big thing that we've seen this year that's been different from past years is we've had a number of years where it was kind of one or two very, very big storylines driving the news cycle. On average, those who disagree with our rating think this source has a Lean Left bias. There are more liberals/Democrats in New York City, and their perception of New York Times' bias is that it is Center, because its bias more closely matches their own beliefs. In January 2021, The New York Times reported on the death of officer Brian D. Sicknick, a Capitol police officer who responded to the Jan. Cost of revenue increased 7% as a result of growth in the number of employees who work in The New York Times newsroom, as well as higher subscriber servicing costs. David, your second question, I think, was a cost — related to cost but got to margin expansion, I believe. The paper and its managers have in the past few years used a strong bundling push, combining its core news reports with digital content ranging from podcasts to cooking recipes and games to boost revenues from readers beyond that from paper subscriptions and ad revenues. Overall revenue grew in the quarter nearly 8%, with subscription revenue growth more than making up for a slight decline in overall advertising.
09 quarterly dividend, we expect 2022 capital returns to exceed the high-end of the guidance we provided at our June Investor Day targeting capital return of 25% to 50% of free cash flow. We had one special item in the quarter, a $7 million gain related to a multiemployer pension liability adjustment. Product development costs increased approximately 22% as a result of growth in the number of digital product development employees in connection with expanding and improving our digital product portfolio. The domestic ARPU result demonstrates the power of our long-term pricing strategy continuing to play out. I'll turn now to expenses in the fourth quarter. 32 on a scale from -9 to +9, with 0 representing Center. AllSides' August 2020 Blind Bias Survey, in which over 2, 000 people across the political spectrum blindly rated content from numerous media outlets, confirmed our Lean Left bias rating for the New York Times' news section. Foxtel saw a miserly 1% rise in earnings and a 4% fall in revenues, mostly due to foreign currency factors.
5 million December quarter revenues. The New York Times was rated Lean Left in the Oct. 2022 AllSides Blind Bias Survey, confirming AllSides' rating at the time. The incident has led some to accuse the New York Times of misinformation and fake news. And what I'd like to just say is we aim to modestly increase our margins this year in 2023.
We had a very strong year — strong first year of execution. For example, we added Wordle to the main feed of our core news app, and rolled out a Play tab in the app. And I want to acknowledge the announcement we made just before the year turned, that my friend, and long-time Times colleague, Roland, will retire midyear. Both the total volume of new bundled subscribers and the share of new subscribers choosing the bundle grew significantly over the course of the year. And one of the things we're really pleased to see in the early days with The Athletic, and I think we launched ads in September, Roland and Harlan are nodding. That's roughly 6x more than in the prior year.
We also finished our first full year with the hit game Wordle, which continue to delight tens of millions of players each week and contribute substantially to our ability to engage people and introduce them to other Times' products and games. As with the third quarter, this was largely the result of two factors. It's much more the latter, though the comp did contribute to the 45%. It will ebb and flow. And I think we've been very conscientious about those investments, particularly in the current macroeconomic environment, but the number is growing modestly.