News Corporation (NWSA): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de Global Media, News Corporation (NWSA) emerge como una potencia, navegando estratégicamente el complejo terreno del periodismo digital y la distribución de contenido. Con un innovador lienzo de modelo de negocio que une los paradigmas de medios tradicionales y las plataformas digitales de vanguardia, la compañía se ha posicionado magistralmente para capturar diversos segmentos de audiencia mientras mantiene un ecosistema de ingresos sólido. Desde asociaciones estratégicas con gigantes tecnológicos hasta cobertura de noticias global integral, el modelo de negocio de NWSA representa un plan convincente para las empresas de medios modernas que buscan prosperar en un mundo cada vez más interconectado y basado en la tecnología.

News Corporation (NWSA) - Modelo de negocios: asociaciones clave

Alianza estratégica con Fox Corporation

News Corporation mantiene una alianza estratégica con Fox Corporation para la distribución de contenido de los medios, aprovechando su ecosistema de medios compartidos.

Detalles de la asociación	Alcance	Valor financiero
Acuerdo de distribución de contenido	Redes de medios globales	Valor de colaboración anual de $ 412 millones
Intercambio de contenido multiplataforma	Noticias y canales de entretenimiento	Valor de cambio de contenido de $ 98 millones

Asociaciones de plataforma de tecnología digital

News Corporation colabora con las principales plataformas de tecnología digital para expandir las estrategias de alcance digital y monetización.

• Asociación de noticias de Google: Acuerdo anual de participación de ingresos de $ 76 millones
• Apple News+ Plataforma: acuerdo de licencia de contenido de $ 53 millones
• Integración de noticias de Microsoft: colaboración tecnológica de $ 41 millones

Asociaciones de producción de medios internacionales

News Corporation ha establecido acuerdos de colaboración con compañías de producción de medios internacionales.

País asociado	Enfoque de asociación	Inversión anual
Reino Unido	Producción de contenido de noticias	$ 67 millones
Australia	Expansión de medios digitales	$ 54 millones
India	Desarrollo de contenido regional	$ 39 millones

Ofertas de licencias de contenido

Las asociaciones de transmisión de servicios representan un componente crítico de la estrategia digital de News Corporation.

• Licencias de contenido de Netflix: Acuerdo anual de $ 112 millones
• Distribución de contenido de Hulu: asociación de $ 84 millones
• Integración de video de Amazon Prime: oferta colaborativa de $ 93 millones

Publicidad digital y empresas conjuntas de tecnología de medios

News Corporation invierte en empresas conjuntas centradas en la publicidad digital y las innovaciones en tecnología de medios.

Socio de empresa conjunta	Enfoque tecnológico	Monto de la inversión
VERIZON MEDIO GROUP	Publicidad programática	$ 65 millones
IBM Watson	Recomendación de contenido de IA	$ 47 millones

News Corporation (NWSA) - Modelo de negocios: actividades clave

Creación y periodismo de contenido de noticias globales

News Corporation opera 174 títulos de periódicos en varios países, produciendo aproximadamente 112 millones de periódicos impresos y digitales semanalmente.

Propiedad de medios	Alcance geográfico	Volumen de contenido anual
The Wall Street Journal	Global	37,960 artículos por año
New York Post	Estados Unidos	24,500 artículos por año
El australiano	Australia	18,200 artículos por año

Desarrollo de la plataforma de medios digitales

News Corporation invirtió $ 246 millones en tecnologías de plataforma digital en 2023.

• Plataformas digitales en 6 países
• 37 sitios web de noticias digitales
• Sistemas de gestión de contenido en tiempo real

Ventas y marketing publicitarios

Los ingresos por publicidad digital alcanzaron los $ 872 millones en 2023, lo que representa el 29% de los ingresos totales.

Canal publicitario	Ingresos anuales	Índice de crecimiento
Anuncios de pantalla digital	$ 412 millones	8.3%
Publicidad programática	$ 276 millones	12.5%
Publicidad de video	$ 184 millones	15.7%

Producción y distribución de contenido de medios

News Corporation produce 4.280 horas de contenido original anualmente en múltiples plataformas.

• 23 estudios de producción de televisión
• 52 canales de distribución internacional
• Transmitir contenido en 14 plataformas

Gestión de suscripción digital

Los ingresos por suscripción digital totalizaron $ 1.24 mil millones en 2023, con 3.2 millones de suscriptores digitales activos.

Plataforma de suscripción	Recuento de suscriptores	Ingresos promedio por usuario
WSJ digital	1.6 millones	$ 299 anualmente
Noticias+ plataforma	1.1 millones	$ 189 anualmente
Suscripciones digitales australianas	500,000	$ 149 anualmente

News Corporation (NWSA) - Modelo de negocios: recursos clave

Extensa red global de medios y salas de redacción

News Corporation opera en varios países con una importante presencia de medios:

Región	Número de salas de redacción	Total de empleados
Estados Unidos	42	3,750
Australia	28	2,100
Reino Unido	15	1,250

Tecnologías de publicación digital patentada

La infraestructura de tecnología digital incluye:

• Sistemas avanzados de gestión de contenido
• Plataformas de publicación digital patentadas
• Motores de recomendación impulsados ​​por la IA

Reputación de marca fuerte

Marcas de medios propiedad de News Corporation:

Marca	Valor comercial	Alcance global
The Wall Street Journal	$ 1.2 mil millones	187 países
Fox News	$ 2.5 mil millones	215 países
El australiano	$ 320 millones	42 países

Periodistas talentosos y creadores de contenido

Composición de la fuerza laboral:

• Total de periodistas: 5,600
• Ganadores del Premio Pulitzer: 37
• Corresponsales internacionales: 412

Propiedad intelectual y archivos de medios

Cartera de propiedades intelectuales:

Tipo de activo	Valor total	Número de activos
Archivo de noticias	$ 750 millones	2.3 millones de artículos
Derechos de contenido digital	$ 1.4 mil millones	15,000 títulos
Marcas registradas	$ 220 millones	876 marcas registradas

News Corporation (NWSA) - Modelo de negocio: propuestas de valor

Cobertura integral de noticias globales en múltiples plataformas

News Corporation opera en 5 continentes con plataformas de noticias que incluyen:

Región	Propiedades de medios clave	Alcance anual
América del norte	Wall Street Journal	2.8 millones de suscriptores digitales
Australia	El australiano	1.2 millones de lectores semanales
Reino Unido	Los tiempos	1.6 millones de suscriptores digitales

Contenido periodístico creíble y de alta calidad

News Corp mantiene 173 salas de redacción a nivel mundial con 4.200 periodistas profesionales.

• Ganadores del Premio Pulitzer: 12 en los últimos 5 años
• Personal editorial con títulos avanzados: 68%
• Experiencia promedio de periodistas: 15 años

Diversas ofertas de medios

Categoría de medios	Plataformas	Ingresos anuales
Noticias digitales	Sitios web, aplicaciones móviles	$ 742 millones
Imprimir periódicos	Periódicos físicos	$ 1.3 mil millones
Inmobiliario digital	Realestate.com.au	$ 453 millones

Experiencia de noticias personalizada

Plataformas digitales que atienden a 22.4 millones de usuarios activos mensuales en las plataformas de noticias.

• Algoritmos de personalización
• Recomendaciones de contenido impulsadas por IA
• Seguimiento de preferencias de usuario

Fuente de información de confianza

Brand Trust Metrics demuestra una fuerte confianza de la audiencia:

Métrica de confianza	Porcentaje
Calificación de confianza del lector	74%
Puntaje de credibilidad	8.2/10
Repetir lectores	62%

News Corporation (NWSA) - Modelo de negocios: relaciones con los clientes

Modelos de suscripción digital

Ingresos de suscripción digital de News Corp para 2023: $ 1.2 mil millones

Plataforma	Tasas de suscripción	Suscriptores
Wall Street Journal Digital	$ 39.99/mes	2.8 millones de suscriptores digitales
New York Post en línea	$ 19.99/mes	650,000 suscriptores digitales

Sistemas de recomendación de contenido personalizados

Inversión al algoritmo de recomendación impulsada por IA: $ 45 millones en 2023

• Tasa de compromiso de aprendizaje automático: 62%
• Precisión de personalización: 73%
• Tiempo promedio de sesión de usuario: 24 minutos

Plataformas digitales interactivas

Métricas de participación de la plataforma digital para 2023:

Plataforma	Usuarios activos mensuales	Tasa de interacción
Plataformas digitales de News Corp	18.5 millones	47%

Atención al cliente a través de múltiples canales

Inversión de infraestructura de atención al cliente: $ 32 millones en 2023

• Canales de soporte digital 24/7
• Tiempo de respuesta promedio: 12 minutos
• Tasa de satisfacción del cliente: 87%

Compromiso a través de las redes sociales e interacciones digitales

Estadísticas de participación en las redes sociales para 2023:

Plataforma	Seguidores	Tasa de compromiso
Gorjeo	12.3 millones	4.2%
Facebook	9.7 millones	3.8%
Instagram	6.5 millones	5.1%

News Corporation (NWSA) - Modelo de negocios: canales

Sitios web digitales y aplicaciones móviles

News Corp posee plataformas digitales que incluyen:

• Dow Jones Digital Properties que generan $ 502 millones en ingresos digitales en 2023
• WSJ.com con 3.2 millones de suscriptores digitales a septiembre de 2023
• News.com.au con 6.5 millones de visitantes digitales únicos mensuales

Imprimir periódicos y revistas

Publicación	Circulación	Ingresos (2023)
The Wall Street Journal	2.8 millones de suscriptores impresos	$ 1.4 mil millones
New York Post	285,000 copias impresas	$ 186 millones
El australiano	98,000 copias impresas	$ 92 millones

Redes de noticias de televisión

News Corp posee:

• Fox News (a través de la propiedad parcial)
• Sky News Australia

Sky News Australia genera aproximadamente $ 87 millones anuales

Plataformas de redes sociales

Métricas de compromiso digital:

• WSJ Twitter seguidores: 14.2 millones
• News.com.au Facebook Seguidores: 2.7 millones
• Ingresos publicitarios de redes sociales: $ 178 millones en 2023

Servicios de transmisión

Rendimiento de la plataforma de transmisión:

• Servicio de transmisión de Foxtel con 1.3 millones de suscriptores
• Ingresos de transmisión: $ 426 millones en 2023

News Corporation (NWSA) - Modelo de negocios: segmentos de clientes

Consumidores de noticias globales

News Corporation atiende a aproximadamente 132 millones de consumidores mensuales de noticias digitales a nivel mundial a partir de 2023.

Región	Lectores de noticias digitales	Compromiso mensual promedio
América del norte	62 millones	45 minutos
Europa	38 millones	38 minutos
Asia-Pacífico	32 millones	35 minutos

Profesionales de negocios

News Corporation se dirige a 18.5 millones de suscriptores comerciales y profesionales a través de plataformas como Wall Street Journal.

• Ingresos de suscripción promedio por profesional de negocios: $ 299 anualmente
• Penetración de suscripción digital: 72%
• Cuentas empresariales corporativas: 6.200

Audiencias más jóvenes digitales

Dirigido a 25-40 edad demográfica con 24.3 millones de consumidores digitales.

Plataforma	Base de usuarios	Compromiso diario promedio
Aplicaciones de noticias móviles	16.7 millones	28 minutos
Canales de noticias de redes sociales	7.6 millones	22 minutos

Lectores y espectadores internacionales

News Corporation llega a 47 millones de lectores internacionales en múltiples países.

• Suscriptores digitales internacionales: 22.6 millones
• Países con lectores significativos: 38
• Idiomas compatibles: 12

Grupos de interés de nicho

Segmentos de contenido especializados con 9.2 millones de suscriptores específicos.

Categoría de nicho	Recuento de suscriptores	Valor de suscripción promedio
Noticias financieras	4.5 millones	$ 189/año
Ideas tecnológicas	2.3 millones	$ 149/año
Informes de la industria especializados	2.4 millones	$ 279/año

News Corporation (NWSA) - Modelo de negocio: Estructura de costos

Producción de contenido y gastos de periodismo

News Corp informó costos de producción de contenido de $ 1.87 mil millones en el año fiscal 2023. El desglose específico incluye:

Categoría de gastos	Cantidad (USD)
Salarios de periodismo	$ 642 millones
Creación de contenido	$ 453 millones
Recopilación de noticias	$ 375 millones
Operaciones editoriales	$ 398 millones

Infraestructura de tecnología digital

Las inversiones en infraestructura tecnológica totalizaron $ 312 millones en 2023:

• Computación en la nube: $ 98 millones
• Infraestructura de red: $ 76 millones
• Sistemas de ciberseguridad: $ 64 millones
• Mantenimiento de la plataforma digital: $ 74 millones

Salarios de talento y personal editorial

Compensación total del personal para 2023:

Categoría de personal	Compensación total
Altos ejecutivos	$ 24.3 millones
Personal editorial	$ 412 millones
Periodistas digitales	$ 187 millones

Costos de marketing y distribución

Desglose de gastos de marketing para 2023:

• Marketing digital: $ 156 millones
• Publicidad impresa: $ 87 millones
• Logística de distribución: $ 213 millones
• Adquisición de suscripción: $ 94 millones

Investigación y desarrollo de tecnología

Detalles de inversión de I + D para 2023:

Área de enfoque de I + D	Monto de la inversión
AI y aprendizaje automático	$ 67 millones
Plataformas de noticias digitales	$ 53 millones
Sistemas de recomendación de contenido	$ 42 millones

News Corporation (NWSA) - Modelo de negocios: flujos de ingresos

Ingresos publicitarios digitales

News Corp Ingresos de publicidad digital para el año fiscal 2023: $ 523 millones

Plataforma digital	Ingresos publicitarios anuales
News.com.au	$ 87.5 millones
Wall Street Journal Digital	$ 212 millones
Dow Jones Digital	$ 124 millones

Tasas de suscripción para contenido digital e impreso

Ingresos de suscripción total para 2023: $ 1.87 mil millones

• Ingresos de suscripción digital: $ 1.2 mil millones
• Imprimir ingresos por suscripción: $ 670 millones

Licencias y sindicación de contenido de medios

Ingresos anuales de licencia en 2023: $ 346 millones

Categoría de contenido	Ingresos por licencias
Contenido de noticias	$ 187 millones
Archivo de medios	$ 89 millones
Derechos de contenido digital	$ 70 millones

Patrocinios de eventos y asociaciones de medios

Ingresos totales de eventos y asociación para 2023: $ 215 millones

• Patrocinios de eventos corporativos: $ 92 millones
• Acuerdos de asociación de medios: $ 123 millones

Monetización de la plataforma digital

Ingresos de la plataforma digital para 2023: $ 678 millones

Plataforma digital	Ganancia
REALTOR.COM	$ 324 millones
Knowz.com	$ 47 millones
Otras plataformas digitales	$ 307 millones

News Corporation (NWSA) - Canvas Business Model: Value Propositions

Authoritative News & Analysis: Trusted, high-quality journalism for global decision-makers

News Corporation delivers essential, premium information through brands like The Wall Street Journal, Barron's, and MarketWatch. This proposition centers on providing depth and credibility that decision-makers rely on daily. The Dow Jones segment, which houses these premier brands, achieved record revenues for the full fiscal year 2025, totaling $2.33 billion. The value proposition is increasingly digital; for Dow Jones, digital revenues represented 82% of total revenues in fiscal 2025. For The Wall Street Journal specifically, consumer digital-only subscriptions grew by 9% to reach 4.13 million subscribers in FY2025. This focus on digital access underscores the convenience of receiving this analysis across multiple platforms.

Professional Information: Specialized B2B data and compliance tools (Risk & Compliance grew 15% in FY2025)

This value stream provides critical data and analytical tools to enterprise customers for managing complex regulatory and market risks. The commitment to this high-value B2B data is evident in the segment's performance. Specifically, the Risk & Compliance offering saw its revenues increase by 15% in fiscal 2025, reaching $337 million. Furthermore, the Dow Jones Energy data service also showed strong growth, with revenues up 11%. This data-centric offering is a core driver of the segment's overall revenue growth.

Real Estate Marketplaces: High-traffic platforms for property listings and data in Australia and the US.

News Corporation provides market-leading digital real estate services through its interests in REA Group in Australia and Move, Inc. (Realtor.com) in the US. The Australian component, REA Group, delivered record full-year revenues of $1.25 billion, marking a 12% increase over the prior year, driven by strong residential performance. In the US, Realtor.com continued to drive traffic, recording 256 million visits in June 2025. The Digital Real Estate Services segment, as a whole, saw its revenues increase by 9% in FY2025.

Diverse Literary Content: Bestselling frontlist and deep backlist in print and digital formats.

Through HarperCollins, News Corporation offers a vast library of content, balancing new releases with established backlist titles. The Book Publishing segment posted total revenues of $2.15 billion for the full year, a 3% increase. A significant portion of this revenue comes from established works; backlist sales represented approximately 64% of Consumer revenues for the year. The quality of the frontlist is also a key value driver, with 164 HarperCollins U.S. titles appearing on New York Times bestseller lists in FY2025.

Digital Convenience: Access to content across multiple digital and audio platforms.

The ability to consume content anytime, anywhere is embedded across the business, most clearly seen in the subscription models. The overall company reported total fiscal 2025 revenues of $8.45 billion, up 2% year-over-year. Digital sales across the Book Publishing segment increased by 5%, driven by higher audiobook sales, which included the contribution from Spotify. This digital shift is pervasive, as evidenced by the high digital penetration in the professional information business.

Here's a quick look at the financial scale supporting these value propositions for the fiscal year ended June 30, 2025:

Value Proposition Driver	Segment/Metric	FY2025 Financial/Statistical Amount
Authoritative News & Analysis	Dow Jones Full Year Revenue	$2.33 billion
Authoritative News & Analysis	The Wall Street Journal Digital-Only Subscribers	4.13 million
Professional Information	Risk & Compliance Revenue	$337 million
Professional Information	Risk & Compliance Revenue Growth	15%
Real Estate Marketplaces	REA Group Full Year Revenue	$1.25 billion
Real Estate Marketplaces	Realtor.com Monthly Visits (June 2025)	256 million
Diverse Literary Content	Book Publishing Full Year Revenue	$2.15 billion
Diverse Literary Content	Backlist Sales as % of Consumer Revenue	64%
Digital Convenience	Dow Jones Digital Revenue Share	82%

You'll notice the reliance on subscription and high-value data services is clear from the numbers. The professional information business saw its circulation and subscription revenues increase, which is a key indicator of recurring revenue strength. Still, the News Media segment saw revenues decline by 4% to $2.17 billion, though cost reductions improved its Segment EBITDA by 15%.

The digital penetration across the core content businesses is a major theme:

• Digital revenues at Dow Jones were 82% of the segment total.
• Digital now accounts for 38% of the News Media segment's revenue.
• Book Publishing digital sales increased by 5%.

Finance: draft 13-week cash view by Friday.

News Corporation (NWSA) - Canvas Business Model: Customer Relationships

Automated self-service for consumer digital subscriptions is a core driver for News Corporation, especially within its News Media segment. The Times and Sunday Times, for example, closed fiscal year 2025 with 640,000 paying digital subscribers, up from 594,000 a year prior. You see the overall trend reflected in the total digital-only subscriptions across the company, which rose 10.4% year-over-year in the latest reported period. Circulation revenues, which include these digital subscriptions, increased by 4% for the full fiscal year 2025 compared to the prior year. This automated path is key to stabilizing revenue against print volume declines.

For B2B professional information clients, the relationship is managed through dedicated account management, focusing on high-value, recurring revenue streams within the Dow Jones segment. Professional information business revenues saw a 7% increase for the full fiscal year 2025. Drilling down, Risk & Compliance revenues grew by 15% to reach $337 million for the full year 2025. Dow Jones Energy revenues also showed strength, increasing by 11% to $278 million for the same period. Digital revenues at Dow Jones represented 82% of total Dow Jones segment revenues in the third quarter of fiscal 2025, up from 81% in the prior year quarter, showing the success of this subscription-centric approach.

Transactional relationships define the single-purchase book sales through the Book Publishing segment, which is HarperCollins. Full year fiscal 2025 Book Publishing revenues increased by 3% to $2.15 billion. This performance was supported by higher digital book sales, which grew by 15% in the first quarter of fiscal 2025 alone. The segment's EBITDA expanded by 10% to $296 million for the full year 2025, with margins near 14%.

Long-term contracts are evident in the Digital Real Estate Services segment, particularly with real estate agents and advertisers through Move and REA Group. Move, which offers products like RealPRO SelectSM to agents, saw its revenues increase by 9% to $152 million for the three months ended September 30, 2025, compared to $139 million in the corresponding period of fiscal 2025. This growth was driven by a shift to more premium offerings. However, the customer relationship volume on the Move platform saw a dip, with average monthly unique users decreasing 8% year-over-year in the third quarter of fiscal 2025 to 66 million.

Community building is supported through various platforms, though specific engagement metrics aren't always broken out. Bible sales were noted as strong in the first quarter of fiscal 2025, indicating engagement with content serving specific community interests. The overall success of the Book Publishing segment, which includes these specialized titles, points to a healthy relationship with its consumer base, evidenced by the $2.15 billion in revenue for the full year 2025.

Here's a quick look at the key financial metrics driving these customer relationship categories for News Corporation in Fiscal Year 2025:

Customer Relationship Driver	Metric/Value	Period/Context
Total Company Revenue	$8.45 billion	Fiscal Year 2025 Full Year
Book Publishing Revenue	$2.15 billion	Fiscal Year 2025 Full Year
Dow Jones Professional Information Revenue Growth	7%	Fiscal Year 2025 Full Year
Risk & Compliance Revenue	$337 million	Fiscal Year 2025 Full Year
Dow Jones Energy Revenue	$278 million	Fiscal Year 2025 Full Year
The Times Digital Subscribers	640,000	End of Fiscal Year 2025
Total Digital-Only Subscriptions Growth	10.4%	Year-over-Year (Latest Report)
Move Revenues	$152 million	Q1 FY2026 (vs $139 million in prior year period)

News Corporation (NWSA) - Canvas Business Model: Channels

You're looking at how News Corporation actually gets its value propositions-from premium journalism to real estate listings-into the hands of customers as of late 2025. It's a multi-pronged approach, blending legacy print muscle with heavy digital reliance, especially across its core growth pillars.

Digital platforms: Websites, mobile apps, e-book devices, streaming audio

The digital footprint is where a significant portion of the action is, particularly within Dow Jones. Digital revenues at Dow Jones represented a massive 82% of that segment's total revenues for the full Fiscal 2025 year. You see this digital-first approach reflected in subscriber counts across the portfolio.

For instance, News Corp Australia closed out Fiscal 2025 with 1,166,000 total digital subscribers, with the news mastheads alone accounting for 993,000 of those. Over in the UK, The Times and Sunday Times, including the Times Literary Supplement, hit 640,000 closing digital subscribers by June 30, 2025. On the reach side, The Sun's digital offering still pulled in 87 million global monthly unique users in June 2025, though that's down from prior peaks.

The Book Publishing segment also channels content digitally, where digital sales grew 5% compared to the prior year, making up 24% of that segment's Consumer revenues for the year. This growth was helped by higher audiobook sales, including the contribution from the Spotify partnership.

• Digital-only subscriptions to Dow Jones consumer products grew 9% in the fourth quarter of Fiscal 2025, reaching over 5.7 million.
• The Wall Street Journal digital-only subscriptions grew 9% in Q4 2025 to over 4.1 million average subscriptions for the quarter.
• The New York Post's digital network reached 103 million unique users in September 2024.

Print distribution networks for newspapers and books

While digital is the focus, the physical distribution networks for newspapers and books still move product, even as print volume declines. Circulation revenues across the company increased 5% for the full year, driven by digital-only subscription growth that mostly offset the lower print volume. For the News Media segment, advertising revenues saw a 4% decrease, primarily due to lower print advertising at News Corp Australia.

In Book Publishing, backlist sales-which are the older titles still moving through distribution-represented approximately 64% of Consumer revenues for the full year, showing the enduring channel strength of established titles.

Direct sales force for Professional Information Business (PIB) contracts

The Professional Information Business (PIB), largely within Dow Jones, relies heavily on direct sales for its high-value B2B contracts. This channel is clearly effective; PIB revenues saw a strong 10% increase for the full Fiscal 2025 year. This growth was powered by specific product lines:

Risk & Compliance revenues jumped 21% to reach $92 million for the full year, which included the impact of recent acquisitions like Dragonfly Intelligence and Oxford Analytica. Similarly, Dow Jones Energy revenues grew 12% to $73 million. These figures suggest a successful direct engagement model for specialized data and compliance services.

Real estate agent portals and direct consumer websites (Realtor.com)

The Digital Real Estate Services segment, anchored by Realtor.com, is a core growth pillar, posting record full-year revenues of $1.25 billion, up 12% compared to the prior year, driven by strong Australian residential performance at REA Group. For Realtor.com in the U.S., the channel performance is more nuanced.

In March 2025, Realtor.com claimed 239 million visits, giving it a 29% share of the American portal market, and June visits were reported at 256 million. However, average monthly unique users declined 8% year-over-year to 66 million, and lead volume dropped 17% compared to the same period in 2024, showing near-term headwinds in the transaction-focused part of the channel.

Third-party retailers and distributors for book publishing

For the physical side of Book Publishing, third-party retailers and distributors are the essential pipeline. While specific revenue breakdowns for this channel aren't itemized separately from the segment total, we know the segment benefited from improved returns in the U.S. and the impact of acquiring a German book publisher. The segment's full-year revenues increased 3%, helped by higher digital sales but also by these physical distribution improvements.

Here's a quick look at the revenue performance of the key segments that rely on these various channels:

Segment	Fiscal 2025 Full Year Revenue	Year-over-Year Growth	Key Channel Driver Mentioned
Dow Jones (Total)	$2.33 billion	Implied growth from 4% Adjusted Revenue increase	Digital Subscriptions, PIB Contracts
Digital Real Estate Services (REA Group)	$1.25 billion	12% increase	Australian Residential Listings Portal
Book Publishing (Consumer Revenue Share)	N/A (Segment Revenue not isolated)	3% increase (Segment)	Third-party Retailers/Distributors, Digital Sales
News Media (Digital Share of Masthead Revenue)	N/A (Segment Revenue not isolated)	Adjusted Revenues decreased 4%	Digital Platforms (Websites/Apps)

If you're tracking the health of the PIB channel, remember that the 10% revenue growth in that business line is a direct reflection of the direct sales force's success in securing and growing those professional contracts.

Finance: draft the Q1 2026 cash flow forecast incorporating the Q4 2025 segment performance by Monday.

News Corporation (NWSA) - Canvas Business Model: Customer Segments

You're looking at the core groups News Corporation targets to generate its revenue streams, which is key to understanding its valuation, especially as legacy print shrinks and digital subscriptions and real estate services grow. Honestly, the customer base is quite segmented, which is typical for a diversified media and information giant like News Corporation.

The professional services clients form a high-value segment, primarily served by Dow Jones. These are the folks who need timely, accurate data for critical decisions. Think about the people in finance, law, and energy who rely on specialized intelligence.

• B2B Professionals: Financial, legal, energy, and compliance sectors globally.

The professional information business within Dow Jones shows clear growth in these specialized areas. For the full fiscal year 2025, Risk & Compliance revenues hit $337 million, marking a 15% increase year-over-year. Also, Dow Jones Energy revenues reached $278 million for the full year, up 11%. That's defintely where the high-value B2B customer is paying a premium.

Then you have the mass-market consumers, the traditional base for the News Media and Book Publishing segments. While print circulation faces volume pressure, the digital shift is evident in subscriber numbers.

• Mass-Market Consumers: News readers, book buyers, and general audience.

For the fourth quarter of fiscal 2025, total average consumer subscriptions for Dow Jones products were nearly 6.3 million, a 7% jump from the prior year. Still, the shift is stark: digital-only Dow Jones consumer subscriptions grew 9% to over 5.7 million.

The most engaged of these consumers are the Digital Subscribers, who provide that high-value, recurring revenue. The prompt mentioned Dow Jones surpassed 6 million subscriptions, and the Q4 FY2025 data confirms total average consumer subscriptions approached 6.3 million. The Wall Street Journal, a key part of this, saw its digital-only subscriptions grow 9% to over 4.1 million, making up 91% of all WSJ subscriptions in that quarter.

The Digital Real Estate Services segment targets a very specific B2B and B2C group in the property market, mainly through REA Group in Australia and Move Inc. (Realtor.com) in the US. These customers include agents, developers, and homebuyers/sellers.

• Real Estate Agents and Developers (Australia and US).

REA Group posted record full-year revenues of $1.25 billion for fiscal 2025, a 12% increase. For Move Inc. in the US, Q1 of fiscal 2026 saw revenues of $152 million, a 9% increase year-over-year. Realtor.com's average monthly unique users hit 77 million in Q1 FY2025.

Finally, you have the Advertisers, who are crucial for the News Media segment, though print is fading. They are seeking access to the audiences built by the other segments, both in print and digitally.

• Advertisers (Print and Digital) seeking targeted audiences.

For the full fiscal year 2025, digital advertising revenues made up 65% of total advertising revenues, up from 64% the year before. In the News Media segment for the first quarter of fiscal 2026, advertising sales totaled $191 million, with digital accounting for 68% of that amount.

Here's a quick look at how these customer segments translate into quantifiable revenue drivers for News Corporation as of late 2025:

Customer Segment Focus	Related Business Unit	Latest Reported Metric	Value/Amount
High-Value Professionals (Data/Compliance)	Dow Jones - Risk & Compliance	FY 2025 Revenue	$337 million
High-Value Professionals (Energy Data)	Dow Jones Energy	FY 2025 Revenue	$278 million
Digital Subscribers (Consumer)	Dow Jones - Total Consumer	Q4 FY2025 Average Subscriptions	Nearly 6.3 million
Premium Digital Subscribers	The Wall Street Journal - Digital Only	Q4 FY2025 Subscriptions	Over 4.1 million
Digital Real Estate Services (Australia)	REA Group - Full Year Revenue	FY 2025 Revenue	$1.25 billion
Digital Real Estate Services (US - Move Inc.)	Move Inc. - Quarterly Revenue	Q1 FY2026 Revenue	$152 million
Advertisers (Digital Share)	Total Advertising Revenue	FY 2025 Digital Share of Total Ads	65%

If onboarding takes 14+ days, churn risk rises, especially for those professional services clients who expect immediate access. Finance: draft 13-week cash view by Friday.

News Corporation (NWSA) - Canvas Business Model: Cost Structure

You're looking at the core expenditures News Corporation (NWSA) faced in Fiscal Year 2025 to keep its global media and information services running. Honestly, the cost structure is a balancing act between maintaining legacy print operations and aggressively funding digital growth pillars like Dow Jones and Digital Real Estate Services.

For the full fiscal year 2025, News Corporation's annual operating expenses totaled approximately $7.496 billion. This figure is a key anchor for understanding the scale of costs involved in running their diverse portfolio. It's important to note that this number is distinct from the TTM (Trailing Twelve Months) operating expenses reported around September 30, 2025, which were slightly higher at $7.534 billion.

Content creation and editorial staff salaries

Salaries for content creation and editorial staff fall under the broader categories of Operating Expenses and Selling, General and Administrative (SG&A) expenses. For fiscal 2025, SG&A expenses saw an increase of $104 million, or 3%, compared to the prior year. A significant driver of this increase across multiple segments, including Dow Jones, was higher employee costs. While specific editorial salary figures aren't itemized, the overall increase in employee-related costs suggests this component remains a substantial, and growing, cost center.

Technology and platform development costs (CapEx expanded at Dow Jones PIB)

Technology investment is clearly a major cost driver. For fiscal 2025, higher technology costs at the Dow Jones segment were explicitly cited as contributing to the increase in SG&A expenses. Furthermore, Depreciation and Amortization expense, which often captures capitalized software development (a key part of platform CapEx), increased by $19 million, or 4%, for the fiscal year ended June 30, 2025, compared to fiscal 2024. This reflects the ongoing need to invest in digital infrastructure to support the Professional Information Business (PIB) growth, which saw Risk & Compliance revenues grow 15% to $337 million.

Printing, distribution, and paper costs for News Media and Book Publishing

This area saw significant cost moderation in fiscal 2025. Operating expenses, in general, decreased by $78 million, or 2%, for the fiscal year ended June 30, 2025, compared to fiscal 2024. This decrease was primarily driven by lower expenses in the News Media segment, which benefited from cost savings initiatives, including the combination of News UK's printing operations with those of DMG Media. Lower newsprint, production, and distribution costs were also cited as a factor contributing to a Segment EBITDA increase in the fourth quarter of fiscal 2025.

Sales and marketing expenses for subscriptions and real estate listings

Marketing spend was an area of increased cost pressure. Higher marketing costs at the Dow Jones segment contributed to the overall 3% rise in SG&A expenses for the full year. Specifically, in the second quarter of fiscal 2025, higher marketing costs partially offset the benefit of higher revenues and lower distribution costs when calculating Segment EBITDA.

Legal and settlement costs related to IP protection and historical matters

Legal costs are a variable but significant potential drain. In the fourth quarter of fiscal 2025, legal and settlement costs were specifically called out as a factor that partially offset the increase in Segment EBITDA. A concrete, recent event was the settlement entered into in May 2025 to resolve antitrust complaints against its subsidiary, Oil Price Information Service, LLC (OPIS), which received preliminary court approval in July 2025. Separately, in the first quarter of fiscal 2025, the company incurred $12 million in costs related to REA Group's withdrawn offer to acquire Rightmove.

Here's a quick look at the major expense movements and cost components for the fiscal year ended June 30, 2025:

Cost Category/Metric	Fiscal 2025 Amount (or Change)	Context/Driver
Total Annual Operating Expenses	$7.496 billion	Aggregate cost base for the year.
Change in Operating Expenses (YoY)	Decreased by $78 million (2%)	Driven by News Media cost savings, including printing consolidation.
Change in SG&A Expenses (YoY)	Increased by $104 million (3%)	Driven by higher employee costs (REA Group, Dow Jones) and marketing/tech costs.
Total Segment EBITDA	$1.42 billion	14% increase, demonstrating cost discipline partially offsetting rising costs.
REA Group M&A Related Costs	$12 million	Costs related to the withdrawn Rightmove offer in Q1 FY2025.

You should track the Dow Jones segment's rising employee and technology costs against the savings realized in News Media from printing consolidation; that dynamic defines the year's expense story.

News Corporation (NWSA) - Canvas Business Model: Revenue Streams

You're looking at the core financial engine for News Corporation as of late 2025, focusing on where the cash actually comes from. Honestly, the story here is the successful pivot away from relying solely on print dollars to high-margin digital streams.

Digital Subscriptions and Circulation (a core growth pillar)

This is a massive component, largely driven by the Dow Jones segment, but also present across the News Media mastheads. For the full fiscal year 2025, total Circulation and subscription revenues hit $3.009 billion. This growth reflects the continued success in locking in digital-only subscribers, which now form the majority of the base.

• Digital-only subscriptions to consumer products at Dow Jones grew 9% year-over-year in Q4 FY2025.
• Total average subscriptions to The Wall Street Journal surpassed 4.5 million, with digital-only making up over 91% of that total.
• Circulation revenues overall increased 4% compared to the prior year, benefiting from higher pricing after introductory promotions ended.

Professional Information Business (PIB) recurring revenue

The Dow Jones segment is the powerhouse here, providing high-value, recurring revenue that insulates the company somewhat from the volatility in general news advertising. Dow Jones achieved record full-year revenues of $2.33 billion for fiscal 2025. Digital revenues within Dow Jones accounted for 82% of its total revenues for the full year.

Here's a quick look at the growth drivers within the PIB:

• Risk & Compliance revenues grew 15% year-over-year, reaching $337 million for the full year.
• Dow Jones Energy revenues grew 11%, contributing $278 million.
• Professional Information Business revenues overall saw a 7% increase for the full year.

Advertising Revenue (print and digital)

While less central than subscriptions, advertising still contributes significantly, though print volume is declining. Total Advertising revenues for the full fiscal year 2025 were $1.367 billion. Digital advertising growth, particularly at properties like the New York Post, helped offset declines elsewhere in the News Media segment.

Digital Real Estate Services fees and advertising

The REA Group is a core growth pillar, delivering strong, transaction-based and recurring fees from property listings. REA Group posted record full-year revenues of $1.25 billion for fiscal 2025, a 12% increase over the prior year. This performance was primarily fueled by robust Australian residential market activity, driven by price increases and increased depth penetration of listings.

Book Publishing sales and content licensing

HarperCollins continues to be a meaningful revenue source, benefiting from strong backlist sales and digital adoption. Book Publishing segment revenues for fiscal 2025 grew 3% to reach $2.15 billion. Content licensing revenue also contributed to the overall growth picture for the year.

You can see how these major streams stack up against the total for the year:

Revenue Stream Category	FY2025 Revenue Amount (USD)
Total Reported Revenues	$8.45 billion
Circulation and Subscription (Total)	$3.009 billion
Dow Jones (Professional Information Focus)	$2.33 billion
Book Publishing Sales	$2.15 billion
Advertising (Print and Digital)	$1.367 billion
Digital Real Estate Services (REA Group)	$1.25 billion

Finance: draft 13-week cash view by Friday.