News Corporation (NWSA): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da mídia global, a News Corporation (NWSA) surge como uma potência, navegando estrategicamente no complexo terreno do jornalismo digital e distribuição de conteúdo. Com uma tela inovadora de modelo de negócios que preenche os paradigmas tradicionais de mídia e as plataformas digitais de ponta, a empresa se posicionou magistralmente para capturar diversos segmentos de público, mantendo um ecossistema de receita robusto. De parcerias estratégicas com gigantes da tecnologia a cobertura abrangente de notícias globais, o modelo de negócios da NWSA representa um plano atraente para as empresas de mídia modernas que buscam prosperar em um mundo cada vez mais interconectado e orientado pela tecnologia.

News Corporation (NWSA) - Modelo de Negócios: Principais Parcerias

Aliança estratégica com a Fox Corporation

A News Corporation mantém uma aliança estratégica com a FOX Corporation for Media Content Distribution, alavancando seu ecossistema de mídia compartilhado.

Detalhes da parceria	Escopo	Valor financeiro
Contrato de distribuição de conteúdo	Redes de mídia globais	Valor anual de colaboração anual de US $ 412 milhões
Compartilhamento de conteúdo de plataforma cruzada	Notícias e canais de entretenimento	Valor de troca de conteúdo de US $ 98 milhões

Parcerias de plataforma de tecnologia digital

A News Corporation colabora com as principais plataformas de tecnologia digital para expandir estratégias de alcance digital e monetização.

• Google News Partnership: Contrato de compartilhamento de receita anual de US $ 76 milhões
• Plataforma da Apple News+: Negociação de licenciamento de conteúdo de US $ 53 milhões
• Integração de notícias da Microsoft: colaboração de tecnologia de US $ 41 milhões

Parcerias internacionais de produção de mídia

A News Corporation estabeleceu acordos colaborativos com empresas internacionais de produção de mídia.

País parceiro	Foco em parceria	Investimento anual
Reino Unido	Produção de conteúdo de notícias	US $ 67 milhões
Austrália	Expansão da mídia digital	US $ 54 milhões
Índia	Desenvolvimento regional de conteúdo	US $ 39 milhões

Acordos de licenciamento de conteúdo

As parcerias de serviços de streaming representam um componente crítico da estratégia digital da News Corporation.

• Licenciamento de Conteúdo da Netflix: Contrato Anual de US $ 112 milhões
• Distribuição de conteúdo do Hulu: parceria de US $ 84 milhões
• Amazon Prime Video Integration: US $ 93 milhões de acordo colaborativo

Publicidade digital e Tecnologia de mídia joint ventures

A News Corporation investe em joint ventures focadas em publicidade digital e inovações em tecnologia de mídia.

Parceiro de joint venture	Foco em tecnologia	Valor do investimento
Grupo de mídia da Verizon	Publicidade programática	US $ 65 milhões
IBM Watson	Recomendação de conteúdo da IA	US $ 47 milhões

News Corporation (NWSA) - Modelo de Negócios: Atividades -chave

Criação global de conteúdo de notícias e jornalismo

A News Corporation opera 174 títulos de jornais em vários países, produzindo aproximadamente 112 milhões de jornais impressos e digitais semanalmente.

Propriedade da mídia	Alcance geográfico	Volume anual de conteúdo
The Wall Street Journal	Global	37.960 artigos por ano
New York Post	Estados Unidos	24.500 artigos por ano
O australiano	Austrália	18.200 artigos por ano

Desenvolvimento de plataforma de mídia digital

A News Corporation investiu US $ 246 milhões em tecnologias de plataforma digital em 2023.

• Plataformas digitais em 6 países
• 37 sites de notícias digitais
• Sistemas de gerenciamento de conteúdo em tempo real

Vendas de publicidade e marketing

A receita de publicidade digital atingiu US $ 872 milhões em 2023, representando 29% da receita total.

Canal de publicidade	Receita anual	Taxa de crescimento
Anúncios de exibição digital	US $ 412 milhões	8.3%
Publicidade programática	US $ 276 milhões	12.5%
Publicidade em vídeo	US $ 184 milhões	15.7%

Produção e distribuição de conteúdo de mídia

A News Corporation produz 4.280 horas de conteúdo original anualmente em várias plataformas.

• 23 estúdios de produção de televisão
• 52 canais internacionais de distribuição
• Streaming de conteúdo em 14 plataformas

Gerenciamento de assinatura digital

A receita de assinatura digital totalizou US $ 1,24 bilhão em 2023, com 3,2 milhões de assinantes digitais ativos.

Plataforma de assinatura	Contagem de assinantes	Receita média por usuário
WSJ Digital	1,6 milhão	$ 299 anualmente
Notícias+ plataforma	1,1 milhão	US $ 189 anualmente
Assinaturas digitais australianas	500,000	US $ 149 anualmente

News Corporation (NWSA) - Modelo de negócios: Recursos -chave

Extensa rede de mídia global e redações

A News Corporation opera em vários países com presença significativa da mídia:

Região	Número de redações	Total de funcionários
Estados Unidos	42	3,750
Austrália	28	2,100
Reino Unido	15	1,250

Tecnologias de publicação digital proprietárias

A infraestrutura de tecnologia digital inclui:

• Sistemas avançados de gerenciamento de conteúdo
• Plataformas de publicação digital proprietárias
• Motores de recomendação orientados pela IA

Forte reputação da marca

Marcas de mídia de propriedade da News Corporation:

Marca	Valor de mercado	Alcance global
The Wall Street Journal	US $ 1,2 bilhão	187 países
Fox News	US $ 2,5 bilhões	215 países
O australiano	US $ 320 milhões	42 países

Jornalistas talentosos e criadores de conteúdo

Composição da força de trabalho:

• Total de jornalistas: 5.600
• Vencedores do Prêmio Pulitzer: 37
• Correspondentes internacionais: 412

Propriedade intelectual e arquivos de mídia

Portfólio de propriedade intelectual:

Tipo de ativo	Valor total	Número de ativos
Arquivos de notícias	US $ 750 milhões	2,3 milhões de itens
Direitos de conteúdo digital	US $ 1,4 bilhão	15.000 títulos
Marcas registradas	US $ 220 milhões	876 marcas comerciais

News Corporation (NWSA) - Modelo de Negócios: Proposições de Valor

Cobertura abrangente de notícias globais em várias plataformas

A News Corporation opera em 5 continentes com plataformas de notícias, incluindo:

Região	Principais propriedades da mídia	Alcance anual
América do Norte	Wall Street Journal	2,8 milhões de assinantes digitais
Austrália	O australiano	1,2 milhão de leitores semanais
Reino Unido	Os tempos	1,6 milhão de assinantes digitais

Conteúdo jornalístico credível de alta qualidade

A News Corp mantém 173 redações globalmente com 4.200 jornalistas profissionais.

• Vencedores do Prêmio Pulitzer: 12 nos últimos 5 anos
• Equipe editorial com diplomas avançados: 68%
• Experiência média de jornalista: 15 anos

Diversas ofertas de mídia

Categoria de mídia	Plataformas	Receita anual
Notícias digitais	Sites, aplicativos móveis	US $ 742 milhões
Jornais impressos	Jornais físicos	US $ 1,3 bilhão
Imóveis digitais	Realestate.com.au	US $ 453 milhões

Experiência de notícias personalizadas

Plataformas digitais que atendem a 22,4 milhões de usuários ativos mensais em plataformas de notícias.

• Algoritmos de personalização
• Recomendações de conteúdo orientadas pela IA
• Rastreamento de preferências do usuário

Fonte de informação confiável

As métricas de confiança da marca demonstram forte confiança do público:

Métrica de confiança	Percentagem
Classificação do Reader Trust	74%
Pontuação de credibilidade	8.2/10
Repetir leitores	62%

News Corporation (NWSA) - Modelo de Negócios: Relacionamentos do Cliente

Modelos de assinatura digital

Receitas de assinatura digital da News Corp para 2023: US $ 1,2 bilhão

Plataforma	Taxas de assinatura	Assinantes
Wall Street Journal Digital	US $ 39,99/mês	2,8 milhões de assinantes digitais
New York Post online	US $ 19,99/mês	650.000 assinantes digitais

Sistemas de recomendação de conteúdo personalizado

Algoritmo de recomendação orientado pela IA Investimento: US $ 45 milhões em 2023

• Taxa de engajamento de aprendizado de máquina: 62%
• Precisão de personalização: 73%
• Tempo médio da sessão do usuário: 24 minutos

Plataformas digitais interativas

Métricas de engajamento da plataforma digital para 2023:

Plataforma	Usuários ativos mensais	Taxa de interação
Plataformas digitais de notícias corp	18,5 milhões	47%

Suporte ao cliente através de vários canais

Investimento de infraestrutura de suporte ao cliente: US $ 32 milhões em 2023

• Canais de suporte digital 24/7
• Tempo médio de resposta: 12 minutos
• Taxa de satisfação do cliente: 87%

Engajamento através de mídias sociais e interações digitais

Estatísticas de engajamento de mídia social para 2023:

Plataforma	Seguidores	Taxa de engajamento
Twitter	12,3 milhões	4.2%
Facebook	9,7 milhões	3.8%
Instagram	6,5 milhões	5.1%

News Corporation (NWSA) - Modelo de Negócios: Canais

Sites digitais e aplicativos móveis

A News Corp possui plataformas digitais, incluindo:

• Propriedades digitais da Dow Jones, gerando US $ 502 milhões em receita digital em 2023
• WSJ.com com 3,2 milhões de assinantes digitais em setembro de 2023
• News.com.au com 6,5 milhões de visitantes digitais exclusivos mensais

Imprimir jornais e revistas

Publicação	Circulação	Receita (2023)
The Wall Street Journal	2,8 milhões de assinantes de impressão	US $ 1,4 bilhão
New York Post	285.000 cópias impressas	US $ 186 milhões
O australiano	98.000 cópias impressas	US $ 92 milhões

Redes de notícias de televisão

News Corp possui:

• Fox News (por propriedade parcial)
• Sky News Australia

Sky News Australia gera aproximadamente US $ 87 milhões anualmente

Plataformas de mídia social

Métricas de engajamento digital:

• WSJ Twitter seguidores: 14,2 milhões
• News.com.au Seguidores do Facebook: 2,7 milhões
• Receita de publicidade de mídia social: US $ 178 milhões em 2023

Serviços de streaming

Desempenho da plataforma de streaming:

• Serviço de streaming Foxtel com 1,3 milhão de assinantes
• Receita de streaming: US $ 426 milhões em 2023

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

Consumidores de notícias globais

A News Corporation atende a aproximadamente 132 milhões de consumidores mensais de notícias digitais globalmente a partir de 2023.

Região	Leitores de notícias digitais	Engajamento mensal médio
América do Norte	62 milhões	45 minutos
Europa	38 milhões	38 minutos
Ásia-Pacífico	32 milhões	35 minutos

Profissionais de negócios

A News Corporation tem como alvo 18,5 milhões de assinantes de negócios e profissionais por meio de plataformas como o Wall Street Journal.

• Receita média de assinatura por profissional de negócios: US $ 299 anualmente
• Penetração de assinatura digital: 72%
• Contas da empresa corporativa: 6.200

Público-primeiro digital mais jovem

Visando de 25 a 40 anos demográficos da idade com 24,3 milhões de consumidores digitais.

Plataforma	Base de usuários	Engajamento diário médio
Aplicativos de notícias móveis	16,7 milhões	28 minutos
Canais de notícias de mídia social	7,6 milhões	22 minutos

Leitores e espectadores internacionais

A News Corporation atinge 47 milhões de leitores internacionais em vários países.

• Assinantes digitais internacionais: 22,6 milhões
• Países com leitores significativos: 38
• Idiomas suportados: 12

Grupos de interesse de nicho

Segmentos de conteúdo especializados com 9,2 milhões de assinantes direcionados.

Categoria de nicho	Contagem de assinantes	Valor médio de assinatura
Notícias financeiras	4,5 milhões	US $ 189/ano
Insights de tecnologia	2,3 milhões	US $ 149/ano
Relatórios especializados da indústria	2,4 milhões	US $ 279/ano

News Corporation (NWSA) - Modelo de negócios: estrutura de custos

PRODUÇÃO DE CONTEÚDO E DESPESSAS DE JORNALISMO

A News Corp relatou os custos de produção de conteúdo de US $ 1,87 bilhão no ano fiscal de 2023. O colapso específico inclui:

Categoria de despesa	Quantidade (USD)
Salários de jornalismo	US $ 642 milhões
Criação de conteúdo	US $ 453 milhões
Coleta de notícias	US $ 375 milhões
Operações editoriais	US $ 398 milhões

Infraestrutura de tecnologia digital

Os investimentos em infraestrutura tecnológica totalizaram US $ 312 milhões em 2023:

• Computação em nuvem: US $ 98 milhões
• Infraestrutura de rede: US $ 76 milhões
• Sistemas de segurança cibernética: US $ 64 milhões
• Manutenção da plataforma digital: US $ 74 milhões

Salários de talentos e funcionários editoriais

Compensação total da equipe para 2023:

Categoria de pessoal	Compensação total
Executivos seniores	US $ 24,3 milhões
Equipe editorial	US $ 412 milhões
Jornalistas digitais	US $ 187 milhões

Custos de marketing e distribuição

Redução de despesas de marketing para 2023:

• Marketing Digital: US $ 156 milhões
• Publicidade impressa: US $ 87 milhões
• Logística de distribuição: US $ 213 milhões
• Aquisição de assinatura: US $ 94 milhões

Pesquisa e desenvolvimento de tecnologia

Detalhes de investimento em P&D para 2023:

Área de foco em P&D	Valor do investimento
AI e aprendizado de máquina	US $ 67 milhões
Plataformas de notícias digitais	US $ 53 milhões
Sistemas de recomendação de conteúdo	US $ 42 milhões

News Corporation (NWSA) - Modelo de negócios: fluxos de receita

Receita de publicidade digital

Receita de publicidade digital da News Corp para o ano fiscal de 2023: US $ 523 milhões

Plataforma digital	Receita anual de anúncios
News.com.au	US $ 87,5 milhões
Wall Street Journal Digital	US $ 212 milhões
Dow Jones Digital	US $ 124 milhões

Taxas de assinatura para conteúdo digital e impresso

Receita total de assinatura para 2023: US $ 1,87 bilhão

• Receita de assinatura digital: US $ 1,2 bilhão
• Receita de assinatura de impressão: US $ 670 milhões

Licenciamento e organização de conteúdo de mídia

Receita anual de licenciamento em 2023: US $ 346 milhões

Categoria de conteúdo	Receita de licenciamento
Conteúdo de notícias	US $ 187 milhões
Arquivos de mídia	US $ 89 milhões
Direitos de conteúdo digital	US $ 70 milhões

Patrocínios de eventos e parcerias de mídia

Receita total de eventos e parcerias para 2023: US $ 215 milhões

• Patrocínio de eventos corporativos: US $ 92 milhões
• Acordos de parceria de mídia: US $ 123 milhões

Monetização da plataforma digital

Receita da plataforma digital para 2023: US $ 678 milhões

Plataforma digital	Receita
Realtor.com	US $ 324 milhões
Kiewz.com	US $ 47 milhões
Outras plataformas digitais	US $ 307 milhões

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.