👉 Background: News Corp is the global media and publishing powerhouse that was founded back in 1923 as News Limited. Since then, it has grown to own newspapers and publishers all over the world, like The Herald Sun, The Australian, The Times in the UK. It also owns a hefty chunk of Aussie real estate giant REA Group. Because of its global presence, News Corp is listed on the ASX as well as the Nasdaq in the US.

👉 What happened: News Corp has announced its quarterly revenue came in at just over $2 billion, which was ever-so-slightly up on the same time last year. With the decline in news media, there were two main parts of the business that kept its revenue humming:

• REA Group, aka the Aussie real estate golden child
• Dow Jones, the business news and data platform that suit-and-tie data nerds love.
  

👉 What else: But, the results from the news media was uuuuugly. Online traffic for The Sun and New York Post was down 41% and 32% respectively. So it’s in for digital products and out for media.

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What's the key learning?

💡Legacy media isn’t exactly dead, but it needs to be digitally reincarnated to survive. In fact, News Corp’s assets that focus on digital subscriptions and real estate classifieds are the only ones winning at the moment.

💡In fact, REA Group and Dow Jones accounted for nearly 43% of News Corp’s total quarterly revenue despite the fact that there are more than hundreds of brands and companies in its group.

💡Now, News Corp needs to prune the low-growth or no-growth areas of its business and double down on the winners. But the biggest challenge is to make sure its digital growth outpaces the declines in print and advertising.