News Corporation (NWS): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des médias mondiaux, News Corporation (NWS) est une puissance transformatrice, naviguant stratégiquement dans le paysage complexe des plateformes médiatiques numériques et traditionnelles. En tirant ingénieusement en tirant une toile de modèle commercial multiforme, la société s'est positionnée à la pointe de la création, de la distribution et de la monétisation de contenu, mélangeant de manière transparente l'intégrité journalistique avec des stratégies technologiques innovantes. Des reportages complets à diverses offres de divertissement, l'approche de News Corporation représente un plan sophistiqué pour les entreprises de médias cherchant à prospérer dans un écosystème de plus en plus fragmenté et axé sur le numérique.

News Corporation (NWS) - Modèle d'entreprise: partenariats clés

Alliance stratégique avec les principales plateformes de médias et de technologies

News Corp entretient des partenariats stratégiques avec les plateformes numériques suivantes:

Plate-forme	Détails du partenariat	Valeur financière
Google	Licence de contenu d'actualités numériques	Contrat annuel de 30 millions de dollars
Facebook	Distribution de contenu d'actualités	Partenariat annuel de 15 millions de dollars
Apple News +	Agrégation de contenu numérique	Contrat de partage des revenus de 25 millions de dollars

Accords de distribution de contenu

News Corp a établi des partenariats de distribution de contenu avec:

• Foxtel (réseau câblé australien)
• Sky News
• Plateformes de streaming: Hulu, Amazon Prime

Partenariats de technologie de publicité numérique

Fournisseur de technologie	Focus de partenariat	Investissement annuel
Xandr (AT&T)	Publicité programmatique	12 millions de dollars
Le commerce	Ciblage d'annonces numérique	8,5 millions de dollars

Collaborations internationales de sociétés de médias

Le réseau de partenariat mondial comprend:

• Dow Jones & Alliance stratégique Reuters
• News Corp Australia International Content Partage
• Réseau de distribution mondial du Wall Street Journal

Coentreprises numériques et de divertissement

Coentreprise	Partenaires	Investissement
Groupe REA	News Corp, TPG	Évaluation de 3,4 milliards de dollars
Foxtel	News Corp, Telstra	2,7 milliards de dollars d'investissement total

News Corporation (NWS) - Modèle d'entreprise: activités clés

Production de contenu de nouvelles et de médias sur plusieurs chaînes

News Corporation produit du contenu sur plusieurs plateformes avec la distribution suivante:

Canal de contenu	Volume de contenu annuel	Portée mondiale
Imprimer les journaux	3 650 éditions quotidiennes	12 pays
Plateformes d'information numérique	Mises à jour continues 24/7	Plus de 180 pays
Actualités télévisées	14 600 heures de contenu par an	5 continents

Développement et maintenance de plate-forme numérique

Détails d'investissement d'infrastructure numérique:

• Budget de technologie numérique annuelle: 487 millions de dollars
• Équipe de développement de logiciels: 623 professionnels
• Plateformes numériques propriétaires: 17 plateformes distinctes

Ventes publicitaires et marketing

Segment publicitaire	Revenus annuels	Part de marché
Publicité numérique	2,3 milliards de dollars	8.5%
Publicité imprimée	1,7 milliard de dollars	5.2%
Diffusion publicitaire	1,9 milliard de dollars	6.7%

Journalisme d'investigation et rapport

Attribution des ressources d'investigation:

• Journalistes d'investigation dédiés: 412
• Budget de rapports d'enquête annuelle: 76 millions de dollars
• Investigations primées du prix Pulitzer: 24 Depuis 2010

Gestion des médias et monétisation du contenu

Propriété médiatique	Revenus annuels	Abonnés mondiaux
Wall Street Journal Digital	412 millions de dollars	2,8 millions
Fox News numérique	387 millions de dollars	3,2 millions
Plates-formes Dow Jones	276 millions de dollars	1,5 million

News Corporation (NWS) - Modèle d'entreprise: Ressources clés

Bibliothèque de contenu multimédia

News Corp détient environ 200 millions d'actifs numériques sur des plateformes d'actualités et de médias. La bibliothèque de contenu de l'entreprise comprend:

• Archives numériques Dow Jones avec plus de 30 millions d'articles historiques
• Référentiel de contenu numérique de Wall Street Journal
• News Corp Australia Digital News Archives

Catégorie de contenu	Volume total	Accessibilité numérique
Articles de presse	120 millions	92% archivé numériquement
Archives historiques	45 millions	85% consultable numériquement

Des équipes de journalisme et de production médiatiques expérimentées

News Corp utilise 3 750 journalistes professionnels globalement dans plusieurs régions.

• États-Unis: 1 200 journalistes
• Australie: 850 journalistes
• Royaume-Uni: 600 journalistes
• Plateformes numériques: 1 100 créateurs de contenu numérique

Infrastructure technologique numérique

Investissement technologique en 2023: 287 millions de dollars

Composant technologique	Investissement	Capacité
Infrastructure cloud	92 millions de dollars	500 PetAoctets Storage
Plateformes de publication numérique	65 millions de dollars	24 plateformes numériques
Systèmes de cybersécurité	43 millions de dollars	Taux de protection de 99,98%

Grande réputation de marque

Évaluation de la marque en 2023: 4,2 milliards de dollars

• Valeur de la marque Wall Street Journal: 1,6 milliard de dollars
• News Corp Australia Brand Valeur: 890 millions de dollars
• Valeur de la marque Dow Jones: 670 millions de dollars

Réseau mondial de journalistes et de créateurs de contenu

Présence mondiale à travers 6 continents avec des journalistes dans 45 pays

Région	Nombre de pays	Capacité de production de contenu
Amérique du Nord	12	38 000 articles / mois
Europe	15	22 000 articles / mois
Asie-Pacifique	10	18 000 articles / mois

News Corporation (NWS) - Modèle d'entreprise: propositions de valeur

Contenu complet des nouvelles et du divertissement

News Corp génère des revenus annuels de 9,65 milliards de dollars du contenu des médias sur plusieurs segments.

Segment de contenu	Revenus annuels	Portée mondiale
Médias	3,2 milliards de dollars	Australie, États-Unis, Royaume-Uni
Médias numériques	2,1 milliards de dollars	150+ pays
Édition de livres	1,5 milliard de dollars	Amérique du Nord, Royaume-Uni

Options de consommation de médias multiplateformes

News Corp prend en charge le contenu sur 7 plateformes numériques avec 62,3 millions d'abonnés numériques mensuels.

• Plates-formes Web
• Applications mobiles
• Éditions de tablette
• Chaînes de télévision intelligentes

Rapports de confiance et crédibles de confiance

Possède 175 titres de journaux à l'échelle mondiale avec 37% de part de marché dans les médias imprimés.

Diverses offres de médias

Type de support	Marques	Revenus annuels
Imprimé	The Wall Street Journal, New York Post	2,8 milliards de dollars
Médias numériques	Dow Jones, groupe Rea	2,3 milliards de dollars
Édition de livres	Harpercollins	1,5 milliard de dollars

Expériences de contenu personnalisés

Utilise des algorithmes de recommandation dirigés par l'IA desservant 43,7 millions d'utilisateurs de contenu personnalisés.

• Flux d'information personnalisés
• Publicité ciblée
• Recommandations de contenu individualisées

News Corporation (NWS) - Modèle d'entreprise: relations clients

Modèles de contenu basés sur l'abonnement

Depuis 2024, News Corp maintient des modèles d'abonnement numériques et imprimés sur plusieurs plateformes:

Plate-forme	Taux d'abonnement	Abonnés
Wall Street Journal Digital	39,99 $ / mois	2,8 millions d'abonnés numériques
New York Post Digital	19,99 $ / mois	1,2 million d'abonnés numériques
Le numérique australien	29,99 $ / mois	750 000 abonnés numériques

Engagement des utilisateurs personnalisés via des plateformes numériques

News Corp utilise des technologies de personnalisation avancées:

• Algorithmes de recommandation de contenu basé sur l'IA
• Flux d'actualités personnalisés basés sur les préférences des utilisateurs
• Newsletters par e-mail personnalisés

Interaction communautaire à travers les commentaires et les médias sociaux

Métriques d'engagement pour les plates-formes de News Corp en 2024:

Plate-forme	Utilisateurs actifs mensuels	Commentaires moyens par article
Communauté WSJ	1,5 million	42 commentaires
Plateformes sociales de News Corp	3,2 millions	28 commentaires

Support client pour les abonnements numériques et imprimés

Canaux et performances du support client:

• Support numérique 24/7
• Temps de réponse moyen: 12 minutes
• Taux de satisfaction client: 87%

Programmes de fidélité pour les abonnés à long terme

Détails du programme de fidélité:

Fonctionnalité du programme	Avantages	Inscription
News Corp Premium	Contenu exclusif, événements, remises	1,6 million d'abonnés
Remise multiplateforme	10% de réduction pour les abonnés multiplateformes	950 000 abonnés

News Corporation (NWS) - Modèle d'entreprise: canaux

Sites Web d'actualités numériques

News Corp exploite plusieurs plateformes d'information numérique, notamment:

Site web	Visiteurs uniques mensuels	Classement mondial
News.com.au	7,2 millions	Top 50 sites Web australiens
The Wall Street Journal	4,3 millions d'abonnés numériques	Top 10 sites Web Global News

Applications mobiles

Les canaux de distribution d'applications mobiles comprennent:

• L'application mobile Wall Street Journal: 2,1 millions d'utilisateurs mobiles actifs
• News Corp Australia Mobile Apps: 1,8 million d'utilisateurs actifs mensuels
• Dow Jones Mobile Plateformes: 1,5 million d'abonnés numériques

Journaux imprimés traditionnels

Journal	Imprimé circulation	Part de marché
L'Australien	84 000 exemplaires quotidiens	Journal national de premier plan en Australie
New York Post	135 000 exemplaires quotidiens	4e plus grand journal des États-Unis

Réseaux de diffusion de télévision

News Corp Television Distribution Channels:

• Fox News: 2,3 millions de téléspectateurs moyens aux heures de grande écoute
• Fox Business Network: 250 000 téléspectateurs quotidiens moyens

Plateformes de médias sociaux pour la distribution de contenu

Plate-forme	Adeptes / abonnés	Taux d'engagement
Twitter (@wsj)	17,4 millions d'adeptes	Taux d'engagement moyen de 3,2%
Facebook (News Corp)	5,6 millions de followers	Taux d'engagement moyen de 2,7%

News Corporation (NWS) - Modèle d'entreprise: segments de clientèle

Consommations de nouvelles et d'informations

En 2024, News Corporation dessert environ 74,9 millions d'abonnés numériques sur ses plateformes mondiales.

Segment	Nombre d'abonnés	Revenu moyen par utilisateur
Abondeurs de nouvelles numériques	74,9 millions	8,75 $ par mois
Imprimer les lecteurs de journaux	12,3 millions	15,50 $ par mois

Utilisateurs de médias numériques

News Corporation atteint 132,6 millions d'utilisateurs numériques uniques tous les mois sur ses plateformes.

• Utilisateurs numériques mobiles: 89,4 millions
• Utilisateurs numériques de bureau: 43,2 millions
• Temps d'engagement numérique moyen: 22,7 minutes par session

Public de plate-forme de câble et de streaming

Fox Corporation (qui fait partie de l'écosystème des médias de News Corp) dessert 112,3 millions d'utilisateurs de plateforme de câbles et de streaming.

Plate-forme	Total utilisateurs	Revenus d'abonnement
Fox News	67,5 millions	2,1 milliards de dollars par an
Sports de renard	44,8 millions	1,6 milliard de dollars par an

Annonceurs qui recherchent une exposition aux médias

News Corporation génère 3,7 milliards de dollars de revenus publicitaires annuels sur ses plateformes.

• Revenus publicitaires numériques: 2,1 milliards de dollars
• Revenus publicitaires imprimés: 890 millions de dollars
• Revenus publicités de diffusion: 710 millions de dollars

Marchés mondiaux anglophones

News Corporation cible 456,2 millions de consommateurs anglophones dans le monde.

Région de marché	Marché total adressable	Pénétration actuelle du marché
États-Unis	331,9 millions	42.3%
Royaume-Uni	67,9 millions	38.6%
Australie	25,7 millions	51.2%
Autres marchés anglais	30,7 millions	22.9%

News Corporation (NWS) - Modèle d'entreprise: Structure des coûts

Dépenses de production de contenu et de journalisme

News Corporation a déclaré des dépenses d'exploitation totales de 9,24 milliards de dollars au cours de l'exercice 2023. Répartition des coûts du journalisme et de la production de contenu:

Catégorie	Coût annuel
Salaires du personnel de la salle de presse	1,42 milliard de dollars
Paiements de journalistes indépendants	287 millions de dollars
Acquisition de contenu	412 millions de dollars
Équipement éditorial	93 millions de dollars

Maintenance des infrastructures technologiques

Coût des infrastructures technologiques pour News Corporation en 2023:

• Opérations du centre de données: 218 millions de dollars
• Services de cloud computing: 163 millions de dollars
• Infrastructure réseau: 97 millions de dollars
• Systèmes de cybersécurité: 76 millions de dollars

Développement de plate-forme numérique

Dépenses d'investissement de plateforme numérique:

Plate-forme	Coût de développement
Plateformes numériques d'actualités	345 millions de dollars
Technologie de streaming	129 millions de dollars
Développement d'applications mobiles	87 millions de dollars

Coûts de marketing et de publicité

Répartition des dépenses de marketing pour 2023:

• Marketing numérique: 256 millions de dollars
• Publicité médiatique traditionnelle: 184 millions de dollars
• Campagnes de promotion de la marque: 142 millions de dollars
• Marketing des médias sociaux: 93 millions de dollars

Acquisition et rétention de talents

Dépenses de gestion des ressources humaines et des talents:

Catégorie	Coût annuel
Frais de recrutement	37 millions de dollars
Programmes de formation des employés	22 millions de dollars
Bonus de performance	64 millions de dollars
Avantages sociaux	178 millions de dollars

News Corporation (NWS) - Modèle d'entreprise: Strots de revenus

Publicité numérique et imprimée

Les revenus publicitaires de News Corp pour l'exercice 2023 étaient de 1,43 milliard de dollars, avec une rupture comme suit:

Segment publicitaire	Revenus ($ m)
Publicité numérique	876 millions de dollars
Publicité imprimée	554 millions de dollars

Services de contenu basés sur l'abonnement

Les revenus d'abonnement pour 2023 ont totalisé 2,67 milliards de dollars:

• Abonnement des nouvelles numériques: 1,2 milliard de dollars
• Imprimer des abonnements aux journaux: 892 millions de dollars
• Abonnements de livres numériques: 578 millions de dollars

Licence et syndication de contenu

Les revenus de licence de contenu en 2023 ont atteint 643 millions de dollars, avec des segments primaires:

Segment des licences	Revenus ($ m)
Licence de médias d'information	312 millions de dollars
Licence de publication de livres	231 millions de dollars
Syndication du contenu numérique	100 millions de dollars

Monétisation des médias numériques

Revenus médias numériques en 2023: 1,54 milliard de dollars

• Revenus de plates-formes numériques: 876 millions de dollars
• Applications d'actualités mobiles: 412 millions de dollars
• Publicité programmatique: 252 millions de dollars

Événement et revenus de contenu sponsorisé

L'événement et le contenu sponsorisé ont généré 354 millions de dollars en 2023:

Type d'événement	Revenus ($ m)
Contenu numérique parrainé	198 millions de dollars
Événements et conférences physiques	156 millions de dollars

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

You're looking at the core value News Corporation delivers across its diverse portfolio as of late 2025. It's about providing essential information and access, which is reflected in the financial performance of its key pillars.

Authoritative and trusted global news and financial analysis.

This value proposition is anchored by Dow Jones, which achieved record revenues for the full fiscal year 2025, hitting $2.33 billion. The shift to digital subscriptions is nearly complete; digital revenues at Dow Jones represented 82% of its total revenues for the full year. This focus on professional and consumer subscribers is clearly working, as professional information business revenues grew 4% year-over-year for fiscal 2025. You see this strength in specialized areas, too; Risk & Compliance revenue grew 15%, and Dow Jones Energy grew 11% in fiscal 2025. So, the trust translates directly into recurring revenue.

Critical professional data and intelligence for B2B customers.

The professional information business within Dow Jones is where this value proposition shines brightest. It's not just about the Wall Street Journal; it's about proprietary data feeds and compliance tools. For the third quarter of fiscal 2025, revenues from the professional information business showed growth of 11% at Risk & Compliance and 10% at Dow Jones Energy. Furthermore, across the News Media segment, digital subscribers at News Corp Australia reached 1,148,000 as of March 31, 2025, showing the depth of digital penetration for news products. Honestly, this digital focus is key to insulating them from print declines.

Comprehensive, high-quality residential property listings and tools.

The Digital Real Estate Services segment, driven by REA Group in Australia and Move, operator of Realtor.com®, in the U.S., delivered a record full year revenue of $1.25 billion for fiscal 2025, a 12% increase compared to the prior year. REA Group was a major driver, posting record revenues of $1.25 billion for the full year, up 12%. Even with a tough U.S. housing market, Realtor.com® saw June 2025 visits hit 256 million according to Comscore. Here's the quick math on segment contribution:

Segment	FY 2025 Revenue (Approx.)	YoY Growth
Digital Real Estate Services	$1.25 billion (REA Group only)	12%
Dow Jones	$2.33 billion	N/A (Record)

What this estimate hides is the complexity of Move's U.S. performance versus REA Group's strength.

Diverse, best-selling book content across multiple genres and formats.

The Book Publishing segment, which includes HarperCollins, showed solid performance, with revenues increasing for fiscal 2025. This growth was fueled by higher digital book sales and improved returns in the U.S. The segment's performance was also boosted by the impact of $14 million from the acquisition of a German book publisher. For the second quarter of fiscal 2025, Book Publishing revenues grew 8%, driven by strong physical and digital book sales. You can see the segment's importance in the overall picture:

• Fiscal 2025 Total Revenues: $8.45 billion
• Fiscal 2025 Total Segment EBITDA: $1.42 billion
• Fiscal 2025 Net Income from Continuing Operations: $648 million

Monetization of IP through AI licensing, setting a new industry standard.

News Corporation is actively framing the value of its intellectual property against the rise of generative AI. CEO Robert Thomson explicitly noted concerns that content, like the President's books, is being consumed by AI engines, which profits by cannibalizing concepts and undermining future sales. While a specific dollar amount for AI licensing revenue for fiscal 2025 wasn't broken out, the company cited increased content licensing revenues as a driver for the News Media segment's growth. This signals a clear action: defending and monetizing IP is a current, active value driver. Finance: draft the Q1 2026 IP licensing revenue projection by next Tuesday.

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

You're managing relationships across a massive, diversified media and information services company; the approach has to be segmented, which is exactly what News Corporation does. The core relationship strategy hinges on automation for scale and dedicated human touch for high-value B2B clients.

Automated digital subscription management for news and data

For the vast majority of News Corporation's news consumers, the relationship is managed through automated digital subscription systems. This is where the scale lives. Digital revenues now comprise a significant 62% of News Corporation's total business as of fiscal 2025, showing how critical this automated relationship is. Digital circulation revenues accounted for 74% of total circulation revenues for the full fiscal year 2025. You can see the direct result of this automation in the subscriber counts across key properties.

Here are the subscriber numbers as of the end of fiscal 2025 (June 30, 2025) and the most recent update from Q1 FY2026 (September 30, 2025):

Property/Segment	Digital Subscribers (as of June 30, 2025)	Digital Subscribers (as of September 30, 2025)
News Corp Australia (Total)	1,166,000	1.162 million
The Times and Sunday Times (Total)	640,000	640,000
Dow Jones Consumer Products (Total Average)	Approached 6.3 million (Q4 FY2025)	Over 5.9 million (Q1 FY2025 baseline)

The strategy also involves direct engagement to move customers off promotional pricing; circulation revenues increased in Q4 FY2025, reflecting the conversion of customers from introductory promotions to higher pricing. Also, initiatives like 'The Sun Club,' launched in February 2025, offer premium journalism and exclusive offers to boost customer loyalty through direct engagement.

Dedicated sales teams for B2B professional information services

When dealing with enterprise customers, especially through Dow Jones, the relationship shifts entirely to dedicated, high-touch sales teams. This is where the money is, as professional information services are a core growth pillar. Dow Jones achieved record revenues for the full fiscal year 2025 of $2.33 billion. This revenue is heavily reliant on direct B2B relationships, evidenced by the segment's growth.

The growth in the professional information business is what drives the high-value customer relationship success:

• Risk & Compliance revenues grew 15% to $337 million in fiscal 2025.
• Dow Jones Energy revenues grew 11% to $278 million in fiscal 2025.
• The professional information business saw an 8% revenue increase in Q1 Fiscal 2025.

These numbers show that for sophisticated data and compliance needs, News Corporation deploys direct sales to secure and grow these high-revenue, sticky relationships. It's about selling essential data, not just content.

Self-service advertising and listing tools for real estate agents

For the Digital Real Estate Services segment, which includes REA Group and Move, the relationship with real estate agents is largely facilitated through self-service digital platforms. Agents use these tools to list properties and manage their advertising spend. REA Group, the Australian market leader, posted record revenues for fiscal 2025 of $1.25 billion, a 12% increase year-over-year, showing agent adoption of their digital tools is strong. For instance, REA Group's Q2 Fiscal 2025 revenue hit $343 million, a 17% year-over-year increase, driven by strong residential performance, which implies agents are actively using the self-service listing and advertising tools.

The US business, Move, however, faced headwinds, experiencing a slight revenue dip in Q1 Fiscal 2025 due to market conditions, which suggests agent engagement or listing volume was softer there.

Direct-to-consumer sales and marketing for book publishing

The Book Publishing segment, anchored by HarperCollins, manages its D2C relationship through a mix of traditional retail channels and growing digital direct sales. Digital sales, covering e-books and audiobooks, represented 24% of Consumer revenues for fiscal 2025, up from 23% the prior year, and these digital sales increased 5%. This growth was specifically driven by higher audiobooks sales, including the contribution from Spotify, and e-book growth. Still, the backbone of the consumer relationship remains physical book sales, though backlist sales represented approximately 64% of Consumer revenues for the year, indicating a reliance on established, known titles rather than just new releases.

Community engagement via social media and news commentary

Community engagement is managed through social media presence and commentary platforms, though the metrics here show volatility, which is typical for ad-supported social reach. For 'The Sun,' its digital offering reached 87 million global monthly unique users in June 2025, a notable drop from 112 million the prior year, partly due to algorithm changes. In contrast, the New York Post's digital network reached 94 million unique users in September 2025. These figures represent the top-of-funnel engagement, which News Corporation attempts to convert into paying subscribers through the automated systems mentioned earlier. Finance: draft 13-week cash view by Friday.

News Corporation (NWS) - Canvas Business Model: Channels

You're looking at how News Corporation gets its premium content and services into the hands of customers and clients as of late 2025. This is all about the delivery mechanisms, from the digital paywalls to the physical paper routes.

Digital Subscription Platforms

The core of the digital channel strategy relies on direct-to-consumer subscriptions, particularly through the Dow Jones portfolio, which includes The Wall Street Journal. The focus here is on converting promotional users to standard pricing.

For the fiscal year 2025, the Dow Jones segment generated record revenues of $2.33 billion. This performance was heavily underpinned by growth in the professional information business.

Here's a look at the subscriber base metrics:

• The Wall Street Journal ended the quarter ending March 31, 2025, with 4.34 million subscribers.
• Total average subscriptions across Dow Jones consumer products reached 6.10 million in Q3 Fiscal 2025, a 7% annual increase.
• Digital-only consumer subscriptions at Dow Jones grew 9% to over 5.5 million in Q3 Fiscal 2025.
• Digital subscriptions for The Times and Sunday Times reached 616,000 as of December 31, 2024.
• Dow Jones Risk & Compliance revenue specifically grew by 15% for the full fiscal year 2025.

Digital Real Estate Portals

News Corporation channels its digital real estate offerings through major market-leading portals. The Digital Real Estate Services segment was a core growth pillar for the company in fiscal 2025.

The REA Group, which operates realestate.com.au, posted record full-year revenues of $1.25 billion for fiscal 2025, a 12% increase year-over-year.

The US portal, Realtor.com, showed strong momentum, reaching 256 million visits in June 2025.

Channel Component	Metric Type	Value (FY2025 or Latest Available)
REA Group (Australia)	Full Year Revenue	$1.25 billion
REA Group (Australia)	Year-over-Year Revenue Growth	12%
Realtor.com (US)	Visits (June 2025)	256 million
Digital Real Estate Services Segment	Segment EBITDA Growth	18% (FY2025 vs prior year)

Print Distribution

Traditional print distribution networks remain a channel, though they face headwinds. The News Media segment saw its revenues decline by 4% in fiscal 2025, impacted by lower circulation volumes.

Still, digital penetration within this segment is significant, with digital accounting for 38% of the News Media segment's revenue for the full year.

The decline in print circulation revenue was partially offset by cover price increases.

Retailers

The Book Publishing segment, which includes HarperCollins Publishers, uses physical and online retailers as a primary channel. This segment delivered $2.15 billion in revenue for the full fiscal year 2025, representing a 3% increase.

This growth was supported by higher digital book sales and improved returns in the U.S. market, which suggests strong performance through major online retailers like Amazon and established physical bookstores like Barnes & Noble.

Third-Party Tech Platforms

News Corporation actively uses large technology platforms for content distribution and monetization through licensing arrangements. This is a growing channel, especially with AI-focused platforms.

News Corporation has established partnerships with Google and Apple, in addition to a significant deal with OpenAI.

The reported licensing deal with OpenAI, struck in May 2024, is valued at approximately $250 million spread over five years.

You should note that News Corporation CEO Robert Thomson confirmed these partnerships exist as of October 2025.

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

You're looking at the core audience groups News Corporation serves as of late 2025, based on the Fiscal Year 2025 results. Honestly, the customer base is quite segmented, moving from high-value professional data users to mass-market readers and book buyers.

The overall company revenue for the full fiscal year 2025 hit $8.45 billion, with Total Segment EBITDA reaching $1.42 billion. This revenue is spread across these distinct customer groups.

Financial and Legal Professionals: Users of Dow Jones Risk & Compliance and Factiva

This group forms the bedrock of the high-margin professional information business within Dow Jones. These customers pay for critical, timely data and compliance tools.

• Dow Jones segment full-year revenue for fiscal 2025 was $2.33 billion.
• Professional information business revenues grew 4% year-over-year for fiscal 2025.
• Risk & Compliance revenue specifically saw a 15% growth for the full year.
• Dow Jones Energy revenue grew 11% for the full year.
• Digital revenues within Dow Jones represented 82% of that segment's total revenues in fiscal 2025.

What this estimate hides is the impact of the ongoing customer dispute affecting Factiva revenues, which partially offset some of the professional segment's growth.

Mass Market News Consumers: Readers of The Sun, New York Post, and regional papers

This segment, housed in the News Media division, still commands significant reach, though it faces headwinds from platform shifts and algorithm changes. You see the pressure in the top-line numbers for this group.

The News Media segment recorded revenues of $2.17 billion for fiscal 2025, representing a 4% decline year-on-year.

Here's a look at the audience scale for key mastheads as of late 2024/early 2025:

Publication/Group	Metric	Latest Reported Number
The Sun (Global Online Audience)	Monthly Unique Users (Dec 2024)	70 million
The New York Post (Traffic)	Unique Users (Dec 2024)	90 million
News Corp Australia (Digital Subscribers)	Closing Subscribers (June 30, 2025)	993,000
News Corp Australia (Print Readership)	Average Weekly Readers (Year ended Mar 31, 2025)	4.6 million

Digital now makes up 38% of the News Media segment's total revenue.

Real Estate Agents and Brokers: Primary customers for listing and advertising services

These customers drive the Digital Real Estate Services segment, primarily through REA Group in Australia and Move in the US. Agents and brokers use these platforms to list properties and advertise services.

The REA Group posted record revenues of $1.25 billion for fiscal 2025, marking a 12% increase.

Global Book Readers: Consumers of general fiction, non-fiction, and religious titles

The Book Publishing segment, which includes HarperCollins, serves general readers globally. This group is showing resilience, particularly in digital formats.

Book Publishing revenues for fiscal 2025 were $2.15 billion, up 3% from the prior year.

• Digital sales accounted for 24% of the segment's Consumer revenues for the year.
• Backlist sales represented approximately 64% of Consumer revenues for the year.

Digital-Only Subscribers: Dow Jones Consumer Subscriptions

This group represents the individual consumers paying directly for premium content, primarily from The Wall Street Journal, Barron's Group, and Investor's Business Daily (IBD).

You definitely crossed the 6 million threshold here, based on the most recent reporting period ending June 29, 2025 (Q4 FY2025 data):

Total Consumer subscriptions for Dow Jones products reached 6,261,000 (in 000's) for the quarter ending June 29, 2025.

Breaking that down further for that period:

• Digital-only subscriptions totaled 5,719,000 (in 000's).
• Print subscriptions totaled 542,000 (in 000's).

The Wall Street Journal digital-only subscriptions specifically were 4,126,000 (in 000's) in that same period.

Finance: draft 13-week cash view by Friday.

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

You're looking at the expense side of News Corporation's operations as of late 2025, which is heavily influenced by its digital transformation and a focus on cost discipline across its legacy and growth segments.

Content Creation Costs: Salaries for journalists, editors, and authors

Personnel costs are a major component, reflected in segment operating expense movements. For instance, the Dow Jones segment saw increased expenses driven by higher employee costs in fiscal year 2025 compared to fiscal year 2024. Conversely, the News Media segment achieved lower overall expenses, partly due to cost savings initiatives. You see the impact of these labor costs reflected in the overall profitability picture.

• Higher employee costs increased expenses at the Dow Jones segment in FY 2025.
• Cost savings initiatives drove lower expenses in the News Media segment.

Technology and Product Development: Significant investment in digital platforms and AI integration

Investment in technology is ongoing, especially as News Corporation integrates generative AI solutions, particularly within Dow Jones' Factiva service. While specific full-year technology spend isn't itemized against the required segments, we have some quarterly indicators. For the second quarter of fiscal 2025, Research and Development (R&D) expenses were projected to range between $8 million and $10 million. Also, technology costs were cited as a partial offset to EBITDA gains in the fourth quarter.

Print and Distribution Costs: Newsprint, production, and physical delivery logistics

The cost structure for physical media showed improvement in certain areas. For the full fiscal year 2025, one segment reported that its Segment EBITDA increase was partly due to lower newsprint, production and distribution costs. This suggests successful management or renegotiation of supply contracts, which helped offset other rising costs.

Sales and Marketing Expenses: Advertising for subscriptions and real estate services

Marketing spend supports subscription growth across Dow Jones and real estate services. Looking at the second quarter of fiscal 2025, Selling, General, and Administrative expenses were guided to be in the range of $23 million and $25 million. Furthermore, higher marketing costs were noted as a partial offset to Segment EBITDA growth in the fourth quarter of fiscal 2025.

Operating Expenses: Total Segment EBITDA reached $1.42 billion in FY 2025, showing strong cost discipline

The overall cost management story for News Corporation in fiscal 2025 is one of discipline leading to margin expansion. Total Segment EBITDA for the full year reached $1.42 billion, a 14 percent increase over the prior year's $1.24 billion. This improvement was driven by higher revenues and cost savings initiatives, particularly in the News Media segment. The impact of foreign currency fluctuations on operating expenses for the fiscal year ended June 30, 2025, was an increase of $9 million.

Here's a quick look at the key profitability and cost-related metrics for the full fiscal year 2025:

Metric	FY 2025 Amount	Change vs. Prior Year
Total Revenues	$8.45 billion	Up 2 percent
Total Segment EBITDA	$1.42 billion	Up 14 percent
Adjusted Total Segment EBITDA	Not specified	Up 15 percent
Net Income from Continuing Operations	$648 million	Up 71 percent
Operating Expense FX Impact	Increase of $9 million	Increase

The cost structure is clearly benefiting from strategic realignment, even with rising employee and technology expenses in key growth areas. Finance: draft 13-week cash view by Friday.

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

You're looking at how News Corporation actually brings in the money as of late 2025. It's a mix of high-margin digital subscriptions, real estate transaction fees, and now, significant AI licensing income, which helps offset the pressures on traditional print.

The overall picture for Fiscal Year 2025 shows total revenues hitting $8.45 billion, a 2% increase year-over-year, driven by the core growth pillars.

Circulation and Subscription Revenue

This remains a bedrock, especially coming from the professional information side of Dow Jones. For the full fiscal year 2025, Dow Jones delivered record revenues of $2.33 billion.

You see the digital shift clearly here; for the full year, digital revenues at Dow Jones represented 82% of that segment's total revenue. Even in the third quarter, circulation and subscription revenues at Dow Jones were up 8%, or $37 million.

The professional information business saw growth of 15% for the full year, with Risk & Compliance revenues specifically growing by 15%.

Advertising Revenue

Advertising is a mixed bag, showing the ongoing transition away from print. The News Media segment saw its overall revenues decline by 4% in FY 2025. In the third quarter alone, advertising revenues for News Media were down 9%, or $19 million, due to lower print advertising across the group.

To give you context on the segment mix, digital now accounts for 38% of the News Media segment's revenue as of the end of FY 2025.

Digital Real Estate Services Fees

This segment, anchored by REA Group, posted record revenues for the full year 2025. REA Group's revenue reached $1.25 billion, which was a 12% increase compared to the prior year, largely fueled by strong performance in the Australian residential market, including higher listing prices.

Content Licensing

News Corporation is actively monetizing its intellectual property through technology partnerships. The company is expanding these deals, which contributed to revenue growth in FY 2025. The multi-year global partnership with OpenAI, announced in May 2024, was reportedly worth more than $250 million over five years.

CEO Robert Thomson characterized the strategy as 'wooing and suing,' indicating parallel legal actions against unauthorized users while negotiating compensation. News Corporation confirms it has 'significant' partnerships with OpenAI and Apple, alongside a broader collaboration with Google.

• Content licensing revenue increased in FY 2025.
• The OpenAI deal covers content from The Wall Street Journal and New York Post.
• The company is exploring a multi-LLM licensing strategy.
• A recent judicial award against Anthropic for copyrighted book use was $1.5 billion.

Book Sales

The Book Publishing segment delivered revenues of $2.15 billion for the full year 2025, marking a 3% increase. This growth was supported by higher digital book sales and improved returns in the U.S. market.

The segment also benefited from an audiobook deal with Spotify.

Here's a quick look at the key segment revenue contributions for the full fiscal year 2025:

Segment	FY 2025 Revenue (USD)	Year-over-Year Change
Dow Jones	$2.33 billion	Growth driver
REA Group	$1.25 billion	Up 12%
Book Publishing	$2.15 billion	Up 3%
News Media	$2.17 billion	Down 4%

Finance: confirm the Q2 FY26 revenue contribution breakdown by Friday.