Rupert Murdoch: WSJ.com Expected To Increase $100 Million Per Year Over Next Several Years
In 2007 News Corporation (NYSE:NWS.A) bought Dow Jones, the publisher of The Wall Street Journal and WSJ.com for $5.6 billion. At the Goldman Sach’s Communacopia conference today, News Corporation Chairman Rupert Murdoch announce that WSJ.com’s online revenue will grow by $100 million per year over the next few years. The site was redesigned this week. For advertisements on the homepage, News Corporation charges $100,000 per day. MySpace charges $500,000 per day and up to $1 million.
In response to the Google missing revenue expectations for powering contextual ads on MySpace, Murdoch stated “It’s going fine. They knew they wouldn’t make the $300 million the first year, and they wouldn’t make it the next year, and by the third year they’ll be very close. But take a look at the market out there. If they didn’t renew, Microsoft (NASDAQ: MSFT) would be out there in a minute with a big check.”
Last year, WSJ.com has about 2 million paper subscribers and about 1.1 million online subscribers. WSJ.com was started in 1996. The last time WSJ.com had a design change was in 2006. And that was the first time WSJ had ads on their sites.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry