News Corp offset a fall in advertising revenue by raising subscription and cover prices across its global mastheads.
News Corp reported a US$13m fall in advertising revenue during the December quarter, according to earnings released in the United States.
The impact was felt across its news division, including Australian mastheads such as The Australian, the Daily Telegraph and the Herald Sun.
The company partially offset weak global advertising conditions by increasing subscription and cover prices.
Overall revenue rose 6% year-on-year to US$2.36bn, driven by strong performances in digital real estate, book publishing and Dow Jones.
REA Group again lifted the group’s results, benefiting from strong property listings and its market dominance.
News Corp holds a majority stake in REA Group, which operates realestate.com.au.
Chief executive Robert Thomson said the company expected further revenue opportunities from artificial intelligence licensing deals.
He said premium content would command premium prices from companies seeking high-quality data.
News Corp also reported growth in digital subscriptions across its Australian mastheads, rising from 979,000 to 999,000 over the past year.
