Dow Jones wants to attract more “decision makers”
Dow Jones & Co., the parent of The Wall Street Journal, MarketWatch.com and Barron’s plans to focus on building its audience through the need for information and news about wealth transfer and increased regulation, among other areas.
The New York-based company, which is part of News Corp. believes there are more than 90 million “decision makers” in the United States that are not customers. The company currently has about 3.8 million subscribers.
A “decision maker,” according to the company, is anybody who has a job, is looking for a job, or who has financial decisions to make, and are willing to pay for a subscription to one of its products. Dow Jones believes it can double the 3.8 million number, but it did not give a timeline. Half of those consumers are younger than 44.
“We are unlike any other business in the news and information business space, highly diversified…,” said Dow Jones CEO Almar Latour in an investor presentation on Monday morning. “We believe we have plenty of room for growth.”
Dow Jones held a presentation on Monday for analysts and investors. News Corp. has split it out as a separate reporting unit this past year. Dow Jones last gave a presentation to investors and analysts when it was a public company before it was acquired in 2007.
Latour also noted that The Journal has been ranked as the most trusted national newspaper brand in the United States. “We enjoy great trust from our readers and users,” he said. “Readers turn to us because they crave reliable information.”
He noted that there will be a transfer of $68 trillion in wealth in the next 25 years, resulting in an increased demand for personal finance and market information.
In addition, increased regulation has led to more complex global trade. “Companies need to manage risk much more carefully than before,” said Latour.
Matt Murray, the editor of The Journal, said that the newspaper has an opportunity to stand apart from its competitors. It has expanded its coverage in technology, politics, health and medicine, and China, in recent years.
“In times of change and upheaval, readers are seeking out reliable sources of information,” said Murray.
News Corp. CEO Robert Thomson downplayed any discussion of spinning off Dow Jones.