Wall Street Journal
Overview
The Wall Street Journal is the largest US newspaper by circulation, owned by News Corp, with a unique focus on business and financial news that commands premium subscription pricing and the highest advertising rates in print media.
Historical Timeline
- 1889: Founded by Charles Dow, Edward Jones, and Charles Bergstresser
- 1896: Introduces the Dow Jones Industrial Average
- 2007: Rupert Murdoch's News Corp acquires Dow Jones for $5.6B
- 2017: Digital subscriptions surpass print for the first time
- 2022: Launches WSJ Pro — premium subscription tier for business professionals
- 2024: Total circulation ~3.5M; digital revenue exceeds print
Business Model
Subscription-driven revenue model with tiered pricing (Digital Basic, Digital Pro, Print + Digital). Advertising remains strong due to affluent reader demographics. Barron's and MarketWatch provide additional financial media revenue streams under News Corp.
Moat Analysis
Most affluent readership of any newspaper — WSJ readers have highest average household income ($200K+). Dow Jones data and analytics provide unique financial intelligence. Business-focused content creates pricing power for premium subscriptions.
Key Data
- circulation: ~3.5M (print + digital)
- revenue: ~$1.8B estimated
- avg_reader_income: ~$200K+ household
- parent: News Corp (NWSA)
- founded: 1889
Interesting Facts
- The WSJ front page has featured a single-dot illustration (the 'hedcut' portrait style) since 1979 — it is now a signature visual identity.
- Charles Dow created the Dow Jones Industrial Average using just 12 stocks — today it tracks 30 but remains the most referenced market index.