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Revenues
 12 Months Ended
Jun. 30, 2024
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, 2024, 2023 and 2022:
For the fiscal year ended June 30, 2024
Digital Real
Estate
Services
Subscription
Video
Services
Dow Jones
Book
Publishing
News Media
Other
Total
Revenues
(in millions)
Revenues:
Circulation and subscription$10 $1,643 $1,771 $— $1,085 $— $4,509 
Advertising
136 232 405 — 834 — 1,607 
Consumer
— — — 2,000 — — 2,000 
Real estate
1,284 — — — — — 1,284 
Other
228 42 55 93 267 — 685 
Total Revenues
$1,658 $1,917 $2,231 $2,093 $2,186 $— $10,085 
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 
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, 2024 and 2023:
For the fiscal years ended June 30,
20242023
(in millions)
Beginning balance$622 $604 
Deferral of revenue
3,638 3,624 
Recognition of deferred revenue (a)
(3,704)(3,606)
Other
(5)— 
Ending balance$551 $622 
(a)For the fiscal years ended June 30, 2024 and 2023, the Company recognized approximately $570 million and $561 million, respectively, of revenue which was included in the opening deferred revenue balance.
Contract assets were immaterial for disclosure as of June 30, 2024 and 2023.
Other Revenue Disclosures
The Company typically expenses sales commissions to obtain a customer contract as incurred as the amortization period is twelve 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 twelve months or less, or the consideration is received within twelve months or less of the transfer of the good or service.
During the fiscal year ended June 30, 2024, the Company recognized approximately $435 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, 2024 was approximately $1,409 million, of which approximately $507 million is expected to be recognized during fiscal 2025, $331 million is expected to be recognized in fiscal 2026 and $222 million is expected to be recognized in fiscal 2027, 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, Revenue from Contracts with Customers.