OLD Media Moves

WSJ parent reports increase in earnings, revenue

Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and MarketWatch.com, reported its second quarter revenue rose 14 percent and its earnings rose 32 percent on circulation and advertising growth.

The results are released as part of parent company News Corp.’s results. Revenue rose 14 percent to $508 million and earnings rose 32 percent to $144 million.

Digital revenues at Dow Jones in the quarter represented 72% of total revenues compared to 70% in the prior year. Circulation and subscription revenues increased $37 million, or 12 percent. Circulation revenue grew 13 percent, reflecting the acquisition of Investor’s Business Daily and continued strong growth in digital-only subscriptions.

During the second quarter, total average subscriptions to Dow Jones’ consumer products reached over 4.7 million, a 17 percent increase compared to the prior year, and includes 126,000 IBD subscriptions, the majority being digital-only. Digital-only subscriptions to Dow Jones’ consumer products grew 23 percent.

Total subscriptions to The Wall Street Journal grew 12 percent compared to the prior year, to over 3.6 million average subscriptions in the quarter.

Digital-only subscriptions to The Wall Street Journal grew 19 percent to over 2.9 million average subscriptions in the quarter, and represented 81 percent of total Journal subscriptions.

Advertising revenues increased $26 million, or 23 percent, primarily due to 29 percent growth in print advertising revenues, which recovered strongly from the COVID-19 related weakness in the prior year, and 18 percent growth in digital advertising revenues, driven by improvement across major categories, most notably in B2C and financial services, and benefiting from higher yield.

Digital advertising accounted for 56 percent of total advertising revenues in the quarter, compared to 58 percent in the prior year, due to the recovery of print advertising.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Indianapolis Biz Journal seeks a news editor

The Indianapolis Business Journal is looking for our next news editor, a role that focuses…

4 hours ago

Axios hires Berkowitz as ME for media and markets coverage

Axios has chosen Ben Berkowitz to be its next managing editor of business and markets.…

9 hours ago

Business Insider hires Ortega as director of newsroom operations

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm thrilled…

9 hours ago

Rest of World promotes Chandran to deputy editor

Rest of World editor in chief Anup Kaphle sent out the following on Monday: We are excited…

10 hours ago

FT hires Venugopal as India newsletter editor

The Financial Times has hired Veena Venugopal as its India newsletter editor. She has been working at…

10 hours ago

FT taps Parkin to be Middle East and Africa news editor

Benjamin Parkin has been named Middle East and Africa news editor at the Financial Times, based…

13 hours ago