For a publisher, common components include advertising, subscriptions and other products. The shares should use the same reporting period and revenue basis. (Future investor relations: FY2025 and HY2026 results ↗)
Jump to a section
A rising share without rising revenue
Illustrative quarterly figures: advertising earns $60,000 and subscriptions earn $40,000, for $100,000 total. The mix is 60% advertising and 40% subscriptions. Next quarter, advertising falls to $40,000 and subscriptions stay at $40,000. Subscriptions now make up 50% of revenue even though subscription revenue did not grow.
| Revenue | First quarter | Next quarter |
|---|---|---|
| Advertising | $60,000 | $40,000 |
| Subscriptions | $40,000 | $40,000 |
| Total | $100,000 | $80,000 |
| Subscription share | 40% | 50% |
Mix changes can move the total in either direction
A larger subscription share can result from growing subscriptions, falling advertising revenue or both. Report the dollar amounts alongside percentages before calling a shift in mix progress.
Check that every revenue stream is counted
When a new stream appears, include it in total revenue before comparing shares. If events add $20,000 to a quarter with $80,000 from advertising and subscriptions, calculate each share against the full $100,000. For a comparison limited to advertising and subscriptions, label that narrower total and use it in both quarters.