News Corp's local papers bleed subscribers, compounding revenue struggles
The Herald Sun, The Courier Mail in Brisbane and Adelaide's The Advertiser all suffered paid-subscriber losses, while national masthead The Australian was the only paper to grow in successive years, according to new overnight corporate filings.
The local numbers contrast with the company's decision to launch a new state-based print product based in Los Angeles, The California Post, which will be led by the Herald Sun 's weekend editor, Nick Papps, despite helping oversee subscriber losses across the year.
The Herald Sun remains News Corp's largest state-based tabloid, despite losing 1 per cent of its customers, dropping to 153,983 paying subscribers across both print and digital.
It was joined by The Advertiser, which lost 2 per cent of its customers, dropping to 106,969, and The Courier Mail, which also lost 1 per cent, dropping to 144,044, despite being the only print publication in Brisbane.
The Australian continues to grow, now with 335,903 subscribers, up 4 per cent, while Sydney-based The Daily Telegraph was the only major city tabloid to grow its subscriber base after losses last year, jumping nearly 5 per cent to 151,336. However, it still has fewer paying subscribers compared with two years ago.
News Corp posted a strong financial result on Wednesday, impressing shareholders with record profits despite continuing negative revenue trends in Australia. Revenue from circulation, subscriptions and advertising suffered, part of a long-term trend.
News Corp will hope its cost-cutting measures in 2024 has improved its local financial fitness, with its 2024 finances, posted in late last year to Australia's corporate regulator showing a net loss of $43.3 million after tax, compared with a $17.9 million profit the year prior.
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