Rupert Murdoch: WSJ.com Expected To Increase $100 Million Per Year Over Next Several Years

Posted Sep 17, 2008

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.