Robert Thomson, the chief executive officer of News Corp., the parent of The Wall Street Journal, MarketWatch.com and Barron’s, made the following comments during its third quarter earnings conference call:
The Journal is the most trusted masthead in America and that value can be seen in its results this quarter, with paid digital-only subscribers of the Journal growing to nearly 1.8 million, reflecting 19% growth. In total, 68% of subscribers are now digital-only.
Equally as significant, in the last quarter, about 55% of circulation revenues of Dow Jones were digital, and we believe there is undoubted potential for future growth. In addition to the journal, other noteworthy Dow Jones properties include Barron’s and MarketWatch.
At MarketWatch, audience expanded 13% in the first nine months to approximately 30 million average monthly unique users and revenue rose 13%. Barron’s subscribers grew over 20% in the quarter compared to the prior year, approaching 600,000 and its success continued in April, with Barron’s breaking its all-time audience record by achieving for the first time a combined total audience of 10 million print and digital uses.
We’re also expanding the successful Dow Jones Professional Information Business, where risk and compliance reported 22% growth in revenues. This represents the ninth consecutive quarter of 20% or more year-over-year growth in that business. It is worth noting that at the time of the separation of News Corp in 2013, annual revenues, risk and compliance were at $31 million. We expect that number to more than quadruple by the end of fiscal 2019 to around $130 million.
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