The Wall Street Journal issued a release that takes issue with the characterization of its circulation strategy in a story Monday in the New York Times.
The release states, “The New York Times wrongly reported that the Journal’s circulation growth is due to heavy discounting and that the use of this tactic had increased since the News Corp takeover. Like most subscription newspapers, the Journal uses discounted offers to attract new subscribers.
“However, in 2008 the Journal moved away from deep discounting and raised the introductory offer and newsstand pricing by nearly 40%. Even with higher prices across the board, Individually Paid Circulation continues to grow in an industry that is largely shrinking. Print circulation revenue for the most recent quarter was up by nearly 9% over the year prior.
“‘The New York Times may choose to speculate and offer its opinions in its business coverage, and there were many erroneous assumptions and speculations made in the story. However, regarding our circulation strategy and recent strong success, the Times simply got it wrong today,’ said Paul Bascobert, chief marketing officer for Dow Jones & Company and The Wall Street Journal.
“The Wall Street Journal Monday through Friday edition grew individually paid subscribers 2.4% in the most recent ABC reporting period.”
Read more here.