News Corp. Chief Executive Rupert Murdoch predicted at an investor’s conference on Wednesday that The Wall Street Journal‘s online subscription revenue will increase by $300 million per year over the next several years.
A Dow Jones story by Nat Worden stated, “Murdoch said at an investors conference on Wednesday that he initially had high expectations for the online newspaper as a free offering for consumers worldwide, but he reversed himself after looking at the financials when he bought Dow Jones & Co., publisher of this newswire and the Journal.
“‘I changed my mind totally,’ he said at the conference, which was Webcast.
“Murdoch said WSJ.com could generate $100 million annually in advertising revenue, as the company is charging $100,000 a day for advertisers on its home page. As for MySpace, the company’s social networking site, he said advertisers are charged more than $500,000 per day for space on its home page.”
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