Revenues (Tables)

9 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Summary of Disaggregated Revenue by Type and Segment

The following tables present the Company’s disaggregated revenues for the three and nine months ended March 31, 2020 and 2019:

	For the three months ended March 31, 2020
	News and Information Services		Subscription Video Services		Book Publishing		Digital Real Estate Services		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	543	$	414	$	—	$	9	$	—	$	966
Advertising		511		40		—		25		—		576
Consumer		—		—		396		—		—		396
Real estate		—		—		—		209		—		209
Other		76		8		16		18		1		119
Total Revenues	$	1,130	$	462	$	412	$	261	$	1	$	2,266

	For the three months ended March 31, 2019
	News and Information Services		Subscription Video Services		Book Publishing		Digital Real Estate Services		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	538	$	474	$	—	$	12	$	1	$	1,025
Advertising		593		50		—		27		—		670
Consumer		—		—		403		—		—		403
Real estate		—		—		—		218		—		218
Other		93		15		18		15		—		141
Total Revenues	$	1,224	$	539	$	421	$	272	$	1	$	2,457

	For the nine months ended March 31, 2020
	News and Information Services		Subscription Video Services		Book Publishing		Digital Real Estate Services		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	1,618	$	1,304	$	—	$	28	$	1	$	2,951
Advertising		1,640		144		—		77		—		1,861
Consumer		—		—		1,204		—		—		1,204
Real estate		—		—		—		669		—		669
Other		262		29		55		53		1		400
Total Revenues	$	3,520	$	1,477	$	1,259	$	827	$	2	$	7,085

	For the nine months ended March 31, 2019
	News and Information Services		Subscription Video Services		Book Publishing		Digital Real Estate Services		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	1,593	$	1,455	$	—	$	39	$	1	$	3,088
Advertising		1,801		162		—		89		—		2,052
Consumer		—		—		1,281		—		—		1,281
Real estate		—		—		—		693		—		693
Other		335		49		54		55		1		494
Total Revenues	$	3,729	$	1,666	$	1,335	$	876	$	2	$	7,608

Summary of Deferred Revenue from Contracts with Customers

The following table presents changes in the deferred revenue balance for the three and nine months ended March 31, 2020 and 2019:

	For the three months ended March 31,						For the nine months ended March 31,
	2020			2019			2020			2019
Balance, beginning of period	$	411		$	430		$	428		$	510
Deferral of revenue		851			934			2,426			2,271
Recognition of deferred revenue(a)		(807	)		(883	)		(2,398	)		(2,300	)
Other(b)		(68	)		(21	)		(69	)		(21	)
Balance, end of period	$	387		$	460		$	387		$	460

(a) For the three and nine months ended March 31, 2020, the Company recognized approximately $226 million and $371 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and nine months ended March 31, 2019, the Company recognized $241 million and $461 million, respectively, of revenue which was included in the opening deferred revenue balance.

(b) For the three and nine months ended March 31, 2020, the Company reclassified $46 million of deferred revenue to Other current liabilities in connection with the sale of News America Marketing. See Note 3—Acquisitions, Disposals and Other Transactions.