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Less than half of Dow Jones’s revenue will come from traditional print operations by 2009, said Rich Zannino, the company’s chief executive, speaking at the company’s annual meeting.
Analysts say that Dow Jones is one of the few newspaper companies to have successfully moved its content to the internet, writes Reuters (via Yahoo).
Revenue at the company is growing far more quickly from its digital offerings than from its print publications, with revenue from the Wall Street Journal U.S. edition dropping 1.8 percent in the first quarter, while advertising revenue for Dow Jones Online rose 30 percent.
Last summer, Dow Jones created a committee to reassess the way it delivers news. Paul Ingrassia, president of Dow Jones Newswires and vp of news strategy for Dow Jones, is leading the company wide project. Ingrassia is working with colleagues from The Journal as well as MarketWatch, Barron’s, The Wall Street Journal Online and Dow Jones Newswires to pinpoint the most efficient way to deliver business news and information across all media.
Ingrassia said that the purpose of the project is not to integrate all news operations into one, but rather to enhance the creation of content that differentiates itself from competitors and to reduce the amount of content that it considers basic, commodity information.
Dow Jones revenue in the first quarter increased to $507.2 million, up 17.9 percent over the first quarter of 2006. “This is the latest indicator that our transformation plan - aimed at diversifying our heavy reliance on traditional print revenue - is working,” Zannino said in a statement.
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