Wall Street Journal

The Wall Street Journal is the largest US newspaper by circulation, focusing on premium business and financial news with a subscription-driven revenue model.

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.