Revenues (Tables)

6 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Disaggregated Revenue by Type and Segment

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

	For the three months ended December 31, 2023
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	2	$	404	$	441	$	—	$	272	$	—	$	1,119
Advertising	32		51		126		—		229		—		438
Consumer	—		—		—		527		—		—		527
Real estate	327		—		—		—		—		—		327
Other	58		15		17		23		62		—		175
Total Revenues	$	419	$	470	$	584	$	550	$	563	$	—	$	2,586

	For the three months ended December 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	$	405	$	417	$	—	$	260	$	—	$	1,085
Advertising	33		47		131		—		253		—		464
Consumer	—		—		—		512		—		—		512
Real estate	301		—		—		—		—		—		301
Other	49		10		15		19		66		—		159
Total Revenues	$	386	$	462	$	563	$	531	$	579	$	—	$	2,521

	For the six months ended December 31, 2023
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	5	$	819	$	877	$	—	$	547	$	—	$	2,248
Advertising	67		113		217		—		432		—		829
Consumer	—		—		—		1,029		—		—		1,029
Real estate	638		—		—		—		—		—		638
Other	112		24		27		46		132		—		341
Total Revenues	$	822	$	956	$	1,121	$	1,075	$	1,111	$	—	$	5,085

	For the six months ended December 31, 2022
	Digital Real Estate Services		Subscription Video Services		Dow Jones		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	6	$	830	$	831	$	—	$	529	$	—	$	2,196
Advertising	68		111		225		—		466		—		870
Consumer	—		—		—		979		—		—		979
Real estate	624		—		—		—		—		—		624
Other	109		23		22		39		137		—		330
Total Revenues	$	807	$	964	$	1,078	$	1,018	$	1,132	$	—	$	4,999

Summary of Changes in the Deferred Revenue Balance

The following table presents changes in the deferred revenue balance for the three and six months ended December 31, 2023 and 2022:

	For the three months ended December 31,				For the six months ended December 31,
	2023		2022		2023		2022
	(in millions)
Balance, beginning of period	$	624	$	592	$	622	$	604
Deferral of revenue	806		893		1,743		1,790
Recognition of deferred revenue(a)	(930)		(917)		(1,859)		(1,813)
Other	10		23		4		10
Balance, end of period	$	510	$	591	$	510	$	591

(a)For the three and six months ended December 31, 2023, the Company recognized $330 million and $499 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and six months ended December 31, 2022, the Company recognized $320 million and $490 million, respectively, of revenue which was included in the opening deferred revenue balance.