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Revenues
 12 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenues
NOTE 3. REVENUES
Disaggregated revenue
The following tables present the Company’s disaggregated revenues by type and segment for the fiscal years ended June 30, 2023, 2022 and 2021:
For the fiscal year ended June 30, 2023
Digital Real
Estate
Services
Subscription
Video
Services
Dow Jones
Book
Publishing
News Media
Other
Total
Revenues
(in millions)
Revenues:
Circulation and subscription
$12 $1,671 $1,689 $— $1,075 $— $4,447 
Advertising
140 227 413 — 907 — 1,687 
Consumer
— — — 1,899 — — 1,899 
Real estate
1,189 — — — — — 1,189 
Other
198 44 51 80 284 — 657 
Total Revenues
$1,539 $1,942 $2,153 $1,979 $2,266 $— $9,879 
For the fiscal year ended June 30, 2022
Digital Real
Estate
Services
Subscription
Video
Services
Dow Jones
Book
Publishing
News Media
Other
Total
Revenues
(in millions)
Revenues:
Circulation and subscription
$13 $1,753 $1,516 $— $1,143 $— $4,425 
Advertising
135 232 449 — 1,005 — 1,821 
Consumer
— — — 2,106 — — 2,106 
Real estate
1,347 — — — — — 1,347 
Other
246 41 39 85 275 — 686 
Total Revenues
$1,741 $2,026 $2,004 $2,191 $2,423 $— $10,385 
For the fiscal year ended June 30, 2021
Digital Real
Estate
Services
Subscription
Video
Services
Dow Jones
Book
Publishing
News Media
Other
Total
Revenues
(in millions)
Revenues:
Circulation and subscription
$25 $1,825 $1,296 $— $1,060 $— $4,206 
Advertising
126 210 373 — 885 — 1,594 
Consumer
— — — 1,908 — — 1,908 
Real estate
1,153 — — — — — 1,153 
Other
89 37 33 77 260 1 497 
Total Revenues
$1,393 $2,072 $1,702 $1,985 $2,205 $1 $9,358 
Contract liabilities and assets
The Company’s deferred revenue balance primarily relates to amounts received from customers for subscriptions paid in advance of the services being provided. The following table presents changes in the deferred revenue balance for the fiscal years ended June 30, 2023 and 2022:
For the fiscal year ended June 30,
20232022
(in millions)
Beginning balance$604 $473 
Deferral of revenue
3,624 3,558 
Recognition of deferred revenue (a)
(3,606)(3,477)
Other (b)
— 50 
Ending balance$622 $604 
________________________
(a)For the fiscal years ended June 30, 2023 and 2022, the Company recognized approximately $561 million and $435 million, respectively, of revenue which was included in the opening deferred revenue balance.
(b)For the fiscal year ended June 30, 2022, includes $68 million of deferred revenue acquired as a result of the OPIS and CMA acquisitions. See Note 4—Acquisitions, Disposals and Other Transactions.
Contract assets were immaterial for disclosure as of June 30, 2023 and 2022.
Other revenue disclosures
The Company typically expenses sales commissions to obtain a customer contract as incurred as the amortization period is 12 months or less. These costs are recorded within Selling, general and administrative in the Statements of Operations. The Company also does not capitalize significant financing components when the transfer of the good or service is paid within 12 months or less, or the receipt of consideration is received within 12 months or less of the transfer of the good or service.
During the fiscal year ended June 30, 2023, the Company recognized approximately $389 million in revenues related to performance obligations that were satisfied or partially satisfied in a prior reporting period. The remaining transaction price related to unsatisfied performance obligations as of June 30, 2023 was approximately $1,219 million, of which approximately $443 million is expected to be recognized during fiscal 2024, $233 million is expected to be recognized in fiscal 2025 and $183 million is expected to be recognized in fiscal 2026, with the remainder to be recognized thereafter. These amounts do not include (i) contracts with an expected duration of one year or less, (ii) contracts for which variable consideration is determined based on the customer’s subsequent sale or usage and (iii) variable consideration allocated to performance obligations accounted for under the series guidance that meets the allocation objective under ASC 606.