---
title: "News Corp: Business Model"
description: "News Corp revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/news-corp/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# News Corp: Business Model & Revenue Engine

## Direct Answer

News Corp reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Dow Jones is the largest, with $2.3 billion of revenue (28% of the total), followed by News and Information Services at $2.2 billion (26%).

## How Does News Corp Make Money?

No single line supplies a majority of revenue: the largest, Dow Jones, is 28%, which spreads News Corp's exposure across several demand drivers. Between fiscal 2024 and 2025, Digital Real Estate Services grew fastest (+8.7%) and News and Information Services slowest (-4.4%), so the revenue mix tilts toward Digital Real Estate Services while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Dow Jones | $2.3 billion | $2.2 billion | 27.6% | 4.5% |
| News and Information Services | $2.2 billion | $2.3 billion | 25.7% | -4.4% |
| Book Publishing | $2.1 billion | $2.1 billion | 25.4% | 2.7% |
| Digital Real Estate Services | $1.8 billion | $1.7 billion | 21.3% | 8.7% |

![Bar chart of News Corp revenue by segment for fiscal 2025: Dow Jones 27.6%, News and Information Services 25.7%, Book Publishing 25.4%, Digital Real Estate Services 21.3%.](https://www.getswoopr.com/images/charts/news-corp-business-model-segment-mix.webp)
*News Corp revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What Does News Corp Sell?

News Corp also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Circulation and Subscription | $3.0 billion | $2.9 billion | 35.6% | 3.4% |
| Consumer | $2.0 billion | $2.0 billion | 24.2% | 2.4% |
| Real Estate | $1.4 billion | $1.3 billion | 16.7% | 9.8% |
| Advertising | $1.4 billion | $1.4 billion | 16.2% | -2.4% |
| Other Product or Service | $619 million | $659 million | 7.3% | -6.1% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of News Corp's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value News Corp reported in the segment note and revenue disclosures of its Form 10-K filed August 6, 2025 (accession 0001564708-25-000419), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are News Corp's business segments?

In its fiscal 2025 Form 10-K, News Corp reports revenue for Dow Jones, News and Information Services, Book Publishing and Digital Real Estate Services.

### Which part of News Corp brings in the most revenue?

Dow Jones, with $2.3 billion of revenue in fiscal 2025, or 28% of the total.

### Where does News Corp report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed August 7, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: NEWS CORP Form 10-K filed August 7, 2026](https://www.sec.gov/Archives/edgar/data/1564708/000156470826000175/nws-20260630.htm)
- [SEC EDGAR: NEWS CORP annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1564708&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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- [News Corp company dossier](https://www.getswoopr.com/stocks/companies/news-corp/)
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- [News Corp peer comparison](https://www.getswoopr.com/stocks/companies/news-corp/competitors/)
- [News Corp business model and revenue mix](https://www.getswoopr.com/stocks/companies/news-corp/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).