Digital revenues grow to 30% as news subscriptions build

News Corp chief backs Foxtel despite subscription revenue fall

The company posted earnings of 8 cents a share, excluding some items, and revenue of $2.69 billion - both topping analysts' estimates.

Total revenue in News Corp.'s Subscription Video Services business, which includes Foxtel and Fox Sports Australia, soared to $610 million from $140 million.

In Q4, Digital Real Estate segment revenues increased 20% y-o-y to $299 million, and the segment's EBITDA further grew 14% y-0-y to $99 million, largely due to continued growth at REA Group and Move.

"Fiscal 2018 was a year of operational and transformational success at News Corp", said CEO Robert Thomson. However the subscription TV service reported lower subscription and advertising revenues in the full year.

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Any intervention with the pod will be contingent on the behavior of the whales, as well as the weather and swell conditions. This is an animal that is a sentient being, ' Deborah Giles, science and research director for the nonprofit Wild Orc said.


Under pressure Foxtel has managed to hold onto subscribers with the pay TV operator now undergoing a transformation program under the new management after a $33M revenue drop.

"We also saw meaningful operational improvements at the News and Information Services segment led by higher digital paid subscribers and disciplined cost initiatives, notably in Australia".

The company's news business, which houses the Wall Street Journal and the New York Post, made $1.29 billion in revenue, rising 1 percent from a year earlier and accounting for nearly half of overall revenue as the number of digital subscribers grew.

"HarperCollins' success underscores the importance of intelligent editors and great writers in creating premium content".

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He highlighted the growth of digital paid subscribers at United Kingdom mastheads such as the Times and the Sunday Times, and hailed strong growth at the Wall Street Journal.

Foxtel's revenues dropped $US33 million in the three months to June 30, "primarily due to lower subscription revenues at Foxtel, due to subscriber mix, and lower advertising revenues, partially offset by the positive impact from currency fluctuations", a note to investors says.

Digital revenues now represent 30 per cent of the company's news and information services division compared with 26 per cent in the previous year, reflecting strong growth in paid digital subscribers at mastheads.

Five years ago News Corp underwent a restructure that saw its entertainment assets spun off into a separate company from its publishing businesses, including Harper Collins. In the fourth quarter, the company claimed cable and satellite residential churn was 12.5% compared to 13.3% in the prior year.

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Advertising revenues declined $76 million, or 3%, while circulation and subscription revenues increased $105 million, or 5%, driven by the factors discussed above in the fourth quarter segment results.

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