Media News - Wednesday, November 14, 2007
Murdoch to make WSJ website free
Rupert Murdoch Tuesday confirmed that he intends to lift the paywall on the Wall Street Journal's website, substituting the site's subscription revenue for a larger audience that will drive more advertising to the financial news site. Murdoch's company News Corporation is expected to compete its deal to buy Dow Jones, the publisher of the WSJ, next month. He told shareholders at a meeting in Adelaide, Australia that a free access model will attract large numbers of high-value advertisers. ‘We are studying it and we expect to make that free, and instead of having 1 million [subscribers], having at least 10 million to 15 million in every corner of the earth,’ said Murdoch. WSJ.com has long been the most successful example of a paid-access news site, attracting a wealthy readership that values the site's influential markets news. The site currently has 1 million subscribers generating USD 50m (EUR 34m) in revenue each year. Last month, WSJ rival the Financial Times announced changes to its own paid-for web content, allowing users to access up to 30 stories for free each month. (Media Guardian)
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