Ad volume in the print edition of the Wall Street Journal dropped nearly 21% and revenue fell 7.2% compared with last July, Reuters reports. The dip underscores the immediate need for Dow Jones to generate more revenue from online properties, analysts said. Ad revenue from Dow Jones' online news operations, including the Journal's web site, rose 24%.
The downturn in print revenue is not unexpected news for media mogul Rupert Murdoch, who recently won a struggle to take over Dow Jones. "He knows from the business that these declines are increasing," one media analyst said. "The transition to the digital future is going to have to come sooner than later."