Revenue was $8.14bn, down 2% from $8.29bn last year, due to lower print advertising revenue and foreign currency fluctuations, the New York-based company said. Digital advertising revenue is also up and now accounts for 25% – up from 22% last year – of all revenue from the news and information division of the global media and entertainment company. News Corp chief executive Robert Thomson told investors the financial year was marked by a fast growing digital real estate services segment, growing digital subscriptions for the premium newspapers and cost cutting. “I think it’s fair to say on the digital advertising front that in the last half of the fiscal year, we didn’t see the growth that we wanted,” Thomson said. “News Corp led the global debate about content value and values, prompting the digital platforms to address a dysfunctional content eco-system, in which the fake and the fraudulent have flourished.

Source: The Guardian August 11, 2017 05:03 UTC