Dow Jones, the parent of The Wall Street Journal, MarketWatch.com and Barron’s, reported a 15 percent increase in revenue in the first quarter, primarily due to growth in circulation and subscription revenues.
Dow Jones is part of News Corp., but the company breaks out its financial performance when it reports earnings.
Digital revenues at Dow Jones in the quarter represented 75% of total revenues compared to 73% in the prior year.
Circulation revenue grew 13%, reflecting the acquisition of Investor’s Business Daily and continued strong growth in digital-only subscriptions. Digital circulation revenues accounted for 66% of circulation revenues for the quarter, compared to 63% in the prior year.
During the first quarter, total average subscriptions to Dow Jones’ consumer products reached approximately 4.6 million, an 18% increase compared to the prior year, and includes 128,000 IBD subscriptions, the majority being digital-only.
Total subscriptions to The Wall Street Journal grew 13% compared to the prior year, to over 3.5 million average subscriptions in the quarter. Digital-only subscriptions to The Journal grew 19% to over 2.8 million average subscriptions in the quarter, and represented 80% of total Wall Street Journal subscriptions.
Advertising revenues increased $20 million, or 29%, primarily due to 38% growth in digital advertising revenues. Digital advertising accounted for 61% of total advertising revenues in the quarter, compared to 57% in the prior year.
The earnings news release can be found here.