Rupert Murdoch: Newspaper Revenues Continue To Be A “Big Problem”

Rupert Murdoch: Newspaper Revenues Continue To Be A “Big Problem”
SHARE
THIS



News Corp supremo Rupert Murdoch has conceded his global newspaper business is suffering and he has no plans for expansion.

Speaking at News Corp’s annual general meeting in Los Angeles yesterday, Murdoch said digital advertising “has been tremendously damaging to print” and he conceded some of his newspapers may need to be reviewed.

“So far I think we have done pretty well in replacing lost advertising revenue in the major papers, but it continues to be a big problem,” Murdoch told the AGM.

When asked if News would launch or acquire new newspapers Murdoch replied: “Not really. No. Our hands are pretty full making our existing papers viable.”

However, Murdoch singled out The Australian as one of the group’s better performers in its print stable.

“I think the big three successes we have are the three big national papers: The Wall Street Journal, The Times in London and The Australian.

“The other papers, a lot of them are still very viable, but they are struggling,” he said.

Murdoch also had a subtle swipe at the likes of Facebook and Google who he has argued steal content, don’t produce any content, have shaky ad metrics and do not provide a safe environment for advertisers.

“We recognise the power of our own audiences and our assets and the importance of our own quality journalism,” Murdoch said.

“We’re developing new platforms to bring these assets to bear to the benefit of advertisers who need conducive environments for their advertising and reliable metrics with which to measure effectiveness.”

Latest News

Mastercard Marketing Chief Sarah Pike Exits
  • Marketing

Mastercard Marketing Chief Sarah Pike Exits

Mastercard marketing boss Sarah Pike has exited. Sadly, not via a half-pike somersault with twist, but the actual exit.

by B&T Magazine

B&T Magazine
Adobe Appoints New ANZ Marketing Director
  • Marketing
  • Technology

Adobe Appoints New ANZ Marketing Director

Adobe announces new ANZ marketing 'big cheese' who's set to go by the title of marketing director and not Queen Gouda.

by B&T Magazine

B&T Magazine
Publicis Media Agencies Named ‘Leaders’ By Independent Research Firm
  • Media

Publicis Media Agencies Named ‘Leaders’ By Independent Research Firm

Publicis Media agencies Zenith and Starcom were named a ‘Leader’ and a ‘Strong Performer’, respectively, in The Forrester Wave: Global Media Agencies, Q3 2018. Both agencies were among the select companies that Forrester invited to participate in this evaluation of the media agency landscape. Zenith received the second-highest score in the ‘Strategy’ and ‘Current Offering’ […]

Apostrophe Copywriters Is Landing In Amsterdam
  • Marketing

Apostrophe Copywriters Is Landing In Amsterdam

Apostrophe, Melbourne’s first copywriting collective, is launching a pop-up office in Amsterdam this September with Lauren Brumley, Apostrophe’s Head Strategist, at the helm. Since its inception in 2012, Apostrophe has continued its steady growth trajectory, expanding globally to accommodate clients in cities as diverse as Helsinki, NYC, Los Angeles, Kuwait and the Netherlands. In 2014 […]

NGEN Winners Create World-First Virtual Mentoring World For Deaf Teenagers
  • Media

NGEN Winners Create World-First Virtual Mentoring World For Deaf Teenagers

The winners of last year’s MFA Awards NGEN category have brought their unique idea to life and built a world-first virtual mentoring world for deaf teenagers inside Minecraft, called League of Hearoes. After months of testing, the world has launched weekly live events, attracting more than 50 deaf or hard of hearing (DOHH) teenagers.

The Shake The Cage Cup Arrives
  • Media

The Shake The Cage Cup Arrives

Glass: The Cannes Lion for Change may very well have it’s prestige shattered by an Aussie gong that is empowering creators to make an impact where they believe support is needed most. And, get an important conversation happening in the leadup to the Victorian, NSW and federal elections. With an ensemble of progressive, impact-oriented judges […]