According to The Guardian’s Amanda Meade, job cuts at News Corp took place this week. Among the staff made redundant was The Daily Telegraph crime reporter Janet Fyfe-Yeomans. MEAA says News has suggested 30 to 40 editorial positions would be targeted.
(News Corp job cuts is the third last item)
UPDATE
News Media
Revenues in the quarter decreased $17 million, or 3%, as compared to the prior year, driven by a $42 million, or 7%, negative impact from foreign currency fluctuations, partially offset by higher circulation and subscription and advertising revenues in constant currency.
Within the segment, revenues at News Corp Australia and News UK decreased 5% and 4%, respectively, as both were impacted by negative foreign currency fluctuations. On a constant currency basis, revenues at News Corp Australia and News UK increased 1% and 6%, respectively. Adjusted revenues for the segment increased 4% compared to the prior year.
Circulation and subscription revenues decreased $11 million, or 4%, compared to the prior year, primarily due to a $21 million, or 8%, negative impact from foreign currency fluctuations and lower print volume. The decline was partially offset by cover price increases and digital subscriber growth.
Digital subscribers and users across key properties within the News Media segment:
• Closing digital subscribers at News Corp Australia as of March 31, 2023 were 1,043,000 (937,000 for news mastheads), compared to 946,000 (876,000 for news mastheads) in the prior year (Source: Internal data)
A shame that News Ltd papers don’t seem to be printing comics anymore?
At least not in the Daily Telegraph, I suspect this may have been part of that refresh that occurred in early April.
News Corp papers stopped publishing comics in September last year. It was discussed in this thread.
Sunday Mail is 100 this weekend.
The Victorian Government will cease virtually all metropolitan print newspaper advertising from next month, in a multi-million-dollar blow to Nine Publishing and News Corp Australia.
From 1 July, metropolitan newspaper ads will not be placed by the government unless required by law.
cue the outcry from NewsCorp and the Age
as the article says,The Age’s publisher (Nine) will be cushioned somewhat from the change as it will still carry ads on radio, TV and online. News Corp of course still has an online component but it won’t go far to make up from the loss of newspaper print advertising.
The Herald Sun: Dictator Dan is spending out of control!!! Deficit!! recession! Disaster!! He needs to stop spending!!!
Daniel Andrews: ok, i hear you, let’s cut back our advertising budget
The Herald Sun: NO NOT LIKE THAT
I noticed today that The Australian has a GQ magazine supplement. Seems to be mostly stuff lifted from the American edition. The last stand alone GQ Australia was Nov/Dec 2020. Has The Australian been carrying the supplement for a while?
“You can still hear me weekly on RN Breakfast and fortnightly on ABC Nightlife, and sometimes see me on China Tonight,” Wenlei Ma added.
From today (July 1), Herald Sun’s Real Estate / At Home flip magazine is no more, with both sections merged into the V Weekend magazine, meaning less real estate ads.
News Corp papers in Australia published a full page advertisement today, marking 100 days since Wall Street Journal reporter Evan Gershkovich was detained in Russia on allegations of espionage.
The Australian reported that News Corp staff joined together in metropolitan and regional locations around Australia yesterday and held signs with a picture of Gershkovich that read, “100 days, #istandwithevan”.
Closing digital subscribers at News Corp Australia as of June 30, 2023 were 1,059,000 (943,000 for news mastheads), compared to 964,000 (882,000 for news mastheads) in the prior year (Source: Internal data)
Within the segment, revenues at News Corp Australia and News UK decreased 8% and 7%, respectively, as both were impacted by negative foreign currency fluctuations and the absence of the additional week in the prior year, while the New York Post saw higher revenues of 4%.
Advertising revenues decreased $98 million, or 10%, compared to the prior year, driven by a $70 million, or 7%, negative impact from foreign currency fluctuations, lower print advertising at News UK, the absence of the additional week in the prior year and lower digital and print advertising at News Corp Australia, partially offset by growth in digital advertising at News UK.
UPDATE 17/8
The internal figures, contained in filings in New York overnight, show the total number of subscribers at The Daily Telegraph in Sydney, the Herald Sun in Melbourne, The Courier-Mail in Brisbane and the Adelaide Advertiser was at 547,411 as of June 30. That is down almost 2 per cent in a year.
The figures include subscribers to the newspaper and the publications online. They show a fall of more than 10,300 across the mastheads.
The one bright spot for News Corp was the performance of The Australian, the company’s national masthead. The figures show the number of subscribers has grown 15 per cent to 318,417 in the past 12 months.
Crikey defamation payout.
