Revenues (Tables)

9 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Disaggregated Revenue by Type and Segment

NOTE 2. REVENUES

The following tables present the Company’s disaggregated revenues by type and segment for the three and nine months ended March 31, 2023 and 2022:

	For the three months ended March 31, 2023
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	3	$	419	$	426	$	—	$	274	$	—	$	1,122
Advertising	35		49		88		—		221		—		393
Consumer	—		—		—		495		—		—		495
Real estate	272		—		—		—		—		—		272
Other	53		9		15		20		68		—		165
Total Revenues	$	363	$	477	$	529	$	515	$	563	$	—	$	2,447

	For the three months ended March 31, 2022
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	3	$	434	$	377	$	—	$	285	$	—	$	1,099
Advertising	33		51		102		—		232		—		418
Consumer	—		—		—		497		—		—		497
Real estate	316		—		—		—		—		—		316
Other	64		9		8		18		63		—		162
Total Revenues	$	416	$	494	$	487	$	515	$	580	$	—	$	2,492

	For the nine months ended March 31, 2023
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	9	$	1,249	$	1,257	$	—	$	803	$	—	$	3,318
Advertising	103		160		313		—		687		—		1,263
Consumer	—		—		—		1,474		—		—		1,474
Real estate	896		—		—		—		—		—		896
Other	162		32		37		59		205		—		495
Total Revenues	$	1,170	$	1,441	$	1,607	$	1,533	$	1,695	$	—	$	7,446

	For the nine months ended March 31, 2022
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	9	$	1,307	$	1,082	$	—	$	850	$	—	$	3,248
Advertising	99		165		333		—		745		—		1,342
Consumer	—		—		—		1,615		—		—		1,615
Real estate	988		—		—		—		—		—		988
Other	202		30		24		63		199		—		518
Total Revenues	$	1,298	$	1,502	$	1,439	$	1,678	$	1,794	$	—	$	7,711

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, 2023 and 2022:

	For the three months ended March 31,				For the nine months ended March 31,
	2023		2022		2023		2022
	(in millions)
Balance, beginning of period	$	591	$	462	$	604	$	473
Deferral of revenue	909		900		2,699		2,574
Recognition of deferred revenue(a)	(873)		(841)		(2,686)		(2,519)
Other	(4)		7		6		—
Balance, end of period	$	623	$	528	$	623	$	528

(a)For the three and nine months ended March 31, 2023, the Company recognized $340 million and $540 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and nine months ended March 31, 2022, the Company recognized $271 million and $414 million, respectively, of revenue which was included in the opening deferred revenue balance.