Digital revenue at The Wall Street Journal for the first quarter of its 2011 fiscal year rose more than 29 percent, according to a memo to WSJ staff from Dow Jones & Co. CEO Les Hinton, which was obtained by Poynter Online.
The memo (after the jump) also touted the launch of WSJ Weekend this past weekend.
The memo (via Poynter Online):
This Saturday, we launched WSJ Weekend to positive reviews and great enthusiasm from a broad set of readers and advertisers. The Wall Street Journal Europe led the way with an expanded and enhanced Friday Weekend Journal. And on Monday, we were pleased to announce new daily Life & Style content and an enhanced Weekend Journal in The Wall Street Journal Asia.
These launches follow on the heels of Greater New York, which continues to attract new readers and advertisers to our franchise. All of these moves point to our desire to provide a more complete daily and weekend newspaper with business and finance at its core.
These enhancements have proved attractive to advertisers, as our fiscal 2011 first-quarter numbers bear out. They are positive in their own right and even more striking when compared with others in the industry.
Total print and online revenue for The Wall Street Journal is up more than 17 percent in the fiscal 2011 first quarter when compared with the same period a year before. Total print advertising revenue increased by more than 21 percent for the quarter ended last week. Digital advertising revenue was up more than 29 percent. And total print circulation revenue was up more than 9 percent — 13 percent if you factor in digital.
As a basis of comparison, for the same three-month period, The New York Times has forecast total print and online revenue for its calendar third quarter to fall 2 percent to 3 percent compared with a year before. Total print advertising revenue is expected to be down 5 percent. Total digital advertising revenue is projected to rise 14 percent. And total circulation revenue is trending down 5 percent.
Our fiscal 2011 first-quarter numbers show that this is our fourth consecutive quarter of year-on-year growth in print and digital advertising. Our investment in our products continues to pay off. It is early in the year, but signs are pointing in the right direction. As always, thank you for helping us to not only meet but exceed our own high expectations.