News Corp heralds digital on way to $US1.4b loss

News Corp chief backs Foxtel despite subscription revenue fall

News Corp worldwide reports $1.4bn net loss, but paid subscriptions rise

Revenue totalled $US9.01 billion, up 11 per cent, while earnings before interest tax and depreciation hit $US1.07 billion, up 21 per cent.

In News Corp.'s Digital Real Estate Services segment, revenue increased 19% to $299 million, she said.

Under pressure Foxtel has managed to hold onto subscribers with the pay TV operator now undergoing a transformation program under the new management after a $33M revenue drop.

However, the media company also posted a net loss of $355 million as reported, accounting for a non-cash impact of $337 million from the combination of Foxtel and Fox Sports Australia, which is narrower than a year-ago net loss of $424 million.

The company reported Foxtel's subscribers at the end of the year were approximately 2.8 million, higher due to the launch of Foxtel Now.

The company's goal for its combined Foxtel and Fox Sports Australia business continues to be an initial public offering (IPO), she and News Corp.

At the end of June, Foxtel had about 2.8 million subscribers, higher than previous year mainly due to the launch of Foxtel Now.

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While the digital real estate and book publishing divisions were solid contributors, they were offset by lower print advertising sales and a 6 per cent revenue decline in News the America Marketing division. As a effect, the company is focused on driving higher penetration of digital paid subscriptions, particularly in Australia and at News UK in fiscal 2019.

In its news and information services segment, News Corp's advertising revenue fell by US$76 million (or three per cent) in FY18, while circulation and subscription revenue increased US$105 million (or five per cent).

"HarperCollins' success underscores the importance of intelligent editors and great writers in creating premium content".

News Corp, which is chaired by Rupert Murdoch, is the ultimate owner of The Times, The Sunday Times and The Sun, as well as The Wall Street Journal and the publisher Harper Collins. At Subscription Video Services, the company will focus on launching new OTT products, 4K, the next generation of the IQ Box and managing its broadcast base.

"News Corp is now a more substantial company after the Foxtel transaction, with a much higher percentage of recurring, subscription-based revenues, which should help offset a volatile advertising environment".

Elsewhere, News Corp's news and information segment, which includes its mastheads, grew quarterly revenues by 1% to $1.29 billion in the fourth quarter and by 1% to $5.12 billion in the fiscal year.

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