Execs: Company Boosted by Foxtel Purchase, Digital Growth in Q4

Roman Schwartz
August 12, 2018

Overall revenue was 29% higher at $2.69 billion.

In April, News Corp and Telstra combined their respective 50% interests in Foxtel and News Corp's 100% interest in Fox Sports Australia into a new company Foxtel.

"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".

News Corp posted a 29% lift in full year revenue to $US2.69 billion.

Digital revenues represented 30% of News and Information Services revenues compared to 26% a year ago.

Revenue by segment: News and Information Services, $1.27B (down 1%); Book Publishing, $485M (up 19%); Digital Real Estate Services, $281M (up 12%); Subscription Video Services, $149M (up 6%).

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The number of subscribers to Foxtel grew 2% to 2.8 million in the year to 30 June 2018. He did not mention the group's titles in Australia, such as the Australian and the Herald Sun had performed, but the earnings report to the stock market said that digital subscriptions in Australia had increased to 415,600 from 363,600 the previous year. Since then, News Corp. has relied on its digital real-estate business for growth, while trying to reduce its exposure to newspaper advertising by adding more digital subscribers.

We have created an interactive dashboard on what to expect from News Corp's fiscal 2019 earnings which outline our forecasts for the company's full-year fiscal 2019 results. As a effect, the company is focused on driving higher penetration of digital paid subscriptions, particularly in Australia and at News UK in fiscal 2019.

"Mastheads like The Times, The Sunday Times and The Wall Street Journal reached new heights in their digital transformation, with digital paid subscribers now exceeding print subscribers".

Thomson said a new sports OTT streaming product, which is due to roll later this year, would help drive subscriptions and a Foxtel IPO is still on the cards. The decline was partially offset by the growth in digital advertising revenues at News Corp Australia and News UK, increase in advertising revenues at Wireless Group and the positive impact from foreign currency fluctuations.

Revenue by type: Advertising, $740M (up 0.4%); Circulation and subscription, $1.07B (up 69%); Consumer, $444M (up 13.8%); Real estate, $225M (up 31.6%).

"We are marking five years since our separation and are confident News Corp has a lustrous future, built on a strong digital and global foundation".

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