OLD Media Moves

Murdoch: WSJ.com online subscription revenue to increase

September 17, 2008

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.

Rupert MurdochA 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.”

Read more here.

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