News Corp recently announced that it had passed 500 000 paid digital subscribers to their online services. The news was announced by Michael Miller, who is the executive chairman of the company.
According to a report released by the company, News Corp has grown in both circulation and subscription revenue by approximately 1% over the previous 12 months. Last year, Damien Eales suggested that the company was seeing a greater level of success with its more local publications.
Indeed, there has been a growing trend inferring that more people are willing to pay for high-quality journalism that they can rely on to be accurate and well-informed. In an email to all News Corp staff, executive chairman Michael Miller thanked the staff for all their hard work, while reflecting on the milestone.
Why have paid subscriptions improved?
There are many reasons as to why paid subscriptions have improved. In the rise of the “fake news” phenomena, it can be argued that more and more customers are moving towards journalism that they believe they can trust and rely on. News sites are becoming increasingly inundated with false information, so it is only natural that viewers would turn to long-standing news outlets.