Dow Jones earnings and revenue up slightly
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Dow Jones is a division of News Corp., which reported earnings. The company breaks out Dow Jones’ performance.
Revenue rose 3% to $544 million, from $529 million in the third quarter of 2023. And EBITDA earnings rose 8% to $118 million from $109 million in the same quarter a year ago.
Advertising revenue fell $2 million, or 2%.
Digital revenues at Dow Jones in the quarter represented 81% of total revenues compared to 79% in the prior year. Circulation and subscription revenues increased $19 million, or 4%. Circulation revenues were flat compared to the prior year, as the continued growth in digital-only subscriptions, which partially benefited from an increase in bundle offers, was offset by lower print volume.
Digital circulation revenues accounted for 70% of circulation revenues for the quarter, compared to 69% in the prior year.
During the third quarter, total average subscriptions to Dow Jones’ consumer products were over 5.7 million, a 12% increase compared to the prior year. Digital-only subscriptions to Dow Jones’ consumer products grew 17% to over 5 million. Total subscriptions to The Journal grew 8% compared to the prior year, to over 4.2 million average subscriptions in the quarter.
Digital-only subscriptions to The Journal grew 13% to over 3.7 million average subscriptions in the quarter, and represented 88% of total Journal subscribers.
Dow Jones achieved its highest sequential quarterly net additions for digital subscriptions of 322,000.
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