News Corporation has announced mixed financial results for its latest quarter, revealing overall revenue growth despite continued declines in its traditional newspaper business.
Digital Growth Offsets Print Decline
The media conglomerate reported a 3% increase in total revenues, driven primarily by strong performance in its digital real estate services and book publishing divisions. This growth comes as newspaper revenues fell by 5%, continuing a long-term trend affecting the entire print media industry.
Key Financial Highlights
- Total revenues rose to £2.5 billion
- Digital real estate services grew by 8%
- Book publishing revenue increased by 6%
- Newspaper advertising revenue declined by 7%
- Circulation revenues dropped by 3%
Strategic Shifts Paying Off
Chief Executive Robert Thomson emphasised the company's successful transition towards digital and subscription-based models. "Our strategic investments in digital platforms and premium content are delivering results," Thomson stated. "While we remain committed to quality journalism, we're building sustainable revenue streams for the future."
The results highlight the ongoing transformation of News Corp, which has been gradually reducing its reliance on traditional print media while expanding its digital footprint through acquisitions and new product development.
