News Corporation (NASDAQ:NWSA) Q4 2023 Earnings Conference Call August 10, 2023 5:00 PM ET
Company Participants
Michael Florin - Senior VP and Head of IR
Robert Thomson - CEO and Director
Susan Panuccio - CFO
Conference Call Participants
David Karnovsky - JPMorgan
Alan Gould - Loop Capital
Kane Hannan - Goldman Sachs
Entcho Raykovski - Evans & Partners
Craig Huber - Huber Research
Lucy Huang - UBS
Brian Han - Morningstar
Darren Leung - Macquarie Research
Operator
Welcome to News Corp's Fourth Quarter and Full Year Fiscal 2023 Earnings Conference Call. Today's conference is being recorded. Media will be allowed on a listen-only basis.
At this time, I would like to turn the conference over to Michael Florin, Senior Vice President and Head of Investor Relations. Please go ahead.
Michael Florin
Thank you very much, operator. Hello, everyone, and welcome to News Corp's fiscal fourth quarter 2023 earnings call. We issued our earnings press release about 30 minutes ago, and it's now posted on our website at newscorp.com.
On the call today are Robert Thomson, Chief Executive; and Susan Panuccio, Chief Financial Officer. We will open with some prepared remarks, and then we'll be happy to take questions from the investment community. This call may include certain forward-looking information with respect to News Corp's business and strategy. Actual results could differ materially from what is said.
News Corp's Form 10-K and Form 10-Q filings identify risks and uncertainties that could cause actual results to differ and contain cautionary statements regarding forward-looking information. Additionally, this call will include certain non-GAAP financial measurements such as total segment EBITDA, adjusted segment EBITDA and adjusted EPS. The definitions and GAAP to non-GAAP reconciliations of such measures can be found in the earnings release for the applicable periods posted on our website.
With that, I'll pass it over to Robert Thomson for some opening comments.
Robert Thomson
Thank you, Mike. Before we discuss results for the fourth quarter and full year of fiscal 2023, I would like to acknowledge that we’ve now completed a decade of the News Corp's existence. So this is surely an appropriate moment to reflect on our profound transformation, a transformation faithful to the company's founding principles.
Consider then and the now, our revenue basis changed fundamentally and expanded dramatically. News and information services accounted for 72% of total revenues in fiscal 2014, which included News America Marketing and Dow Jones. By fiscal 2023, News Media was 23% and revitalized Dow Jones segment was 22%. Digital real estate comprised 5% of total revenues 10 years ago, and that has tripled to over 15% this past year, which includes the acquisition of Move, were revenues have more than doubled.