REVENUES (Tables)

6 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule 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, 2024 and 2023:

	For the three months ended December 31, 2024
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	461	$	2	$	—	$	282	$	—	$	745
Advertising	121		35		—		229		—		385
Consumer	—		—		572		—		—		572
Real estate	—		377		—		—		—		377
Other	18		59		23		59		—		159
Total Revenues	$	600	$	473	$	595	$	570	$	—	$	2,238

	For the three months ended December 31, 2023
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	441	$	2	$	—	$	282	$	—	$	725
Advertising	126		32		—		233		—		391
Consumer	—		—		527		—		—		527
Real estate	—		327		—		—		—		327
Other	17		58		23		67		—		165
Total Revenues	$	584	$	419	$	550	$	582	$	—	$	2,135

	For the six months ended December 31, 2024
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	920	$	4	$	—	$	564	$	—	$	1,488
Advertising	206		73		—		427		—		706
Consumer	—		—		1,093		—		—		1,093
Real estate	—		734		—		—		—		734
Other	26		119		48		120		—		313
Total Revenues	$	1,152	$	930	$	1,141	$	1,111	$	—	$	4,334

	For the six months ended December 31, 2023
	Dow Jones		Digital Real Estate Services		Book Publishing		News Media		Other		Total Revenues
	(in millions)
Revenues:
Circulation and subscription	$	877	$	5	$	—	$	567	$	—	$	1,449
Advertising	217		67		—		439		—		723
Consumer	—		—		1,029		—		—		1,029
Real estate	—		638		—		—		—		638
Other	27		112		46		142		—		327
Total Revenues	$	1,121	$	822	$	1,075	$	1,148	$	—	$	4,166

Schedule 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, 2024 and 2023:

	For the three months ended December 31,				For the six months ended December 31,
	2024		2023		2024		2023
	(in millions)
Balance, beginning of period	$	488	$	556	$	483	$	554
Deferral of revenue	810		637		1,597		1,396
Recognition of deferred revenue(a)	(855)		(754)		(1,645)		(1,507)
Other	(12)		7		(4)		3
Balance, end of period	$	431	$	446	$	431	$	446

(a)For the three and six months ended December 31, 2024, the Company recognized $205 million and $378 million, respectively, of revenue which was included in the opening deferred revenue balance. For the three and six months ended December 31, 2023, the Company recognized $266 million and $435 million, respectively, of revenue which was included in the opening deferred revenue balance.