Dow Jones
Careers at Dow Jones
Mission
Dow Jones’s mission is to explain the world and the world of business.
Founding story
Charles Dow had worked for many newspapers and had an interest in financial gossip. In 1882 he partnered with fellow reporters Edward Jones and Charles Bergstresser to launch financial news service Dow, Jones & Company in New York City. It distributed information via flyers and telegraphs. In 1885 he became a member of the NYSE, where he was able to obtain more news and tips.
In 1889 the firm introduced a financial newspaper, The Wall Street Journal (WSJ). Dow wrote most of the copy for its early issues while Jones acted as Managing Editor. Many of the initial articles were editorials and information Jones obtained at hotel bars. To get more material the men formed a deal with Clarence Barron, head of the Boston News Bureau, through which they would exchange news.
In 1899 Jones left the company. In 1902 Dow died of a heart attack, and Barron purchased the firm for $130,000. In 1928 Barron passed away and control of Dow, Jones & Company was transferred to his stepdaughters, Martha and Jane Bancroft. In 1929, the stock market crash caused the paper to experience heavy losses in circulation and advertising.
In 1932 the company dropped the comma from its name, becoming Dow Jones & Company. In 1938 its Vice President Casey Hogate decided to broaden the WSJ’s scope, providing general interest as well as financial news. The strategy worked and sales increased. The firm’s President Barney Kilgore then decided to publish the Monday edition of the paper on Sunday so news would be fresh.
At this point Dow Jones’ product suite included the Dow Jones News Service (in the U.S. and Canada); the WSJ, with editions in New York, Dallas, and San Francisco; Barron's, a weekly periodical; and a commodity news service. By 1961 it had a circulation of 800,000 and news-ticker clients in 48 of the 50 states. In 2007, it was purchased by News Corporation after an extended takeover bid.
Benefits at Dow Jones
Business model of Dow Jones
Customer Segments
Dow Jones has a segmented market business model, with customer groups that have slightly different needs. The company targets its offerings at consumers and businesses.
Value Proposition
Dow Jones offers two primary value propositions: accessibility and brand/status.
The company creates accessibility by providing a wide variety of options. It provides its information in multiple formats, including print, digital, mobile, and live events. It distributes this content through a wide range of mediums, including websites, mobile apps, tablets, eBook readers, newspapers, newswires, newsletters, proprietary databases, conferences, magazines, and video.
The company has established a powerful brand due to its success. It produces several leading publications and products, including the flagship Wall Street Journal, the largest newspaper in America by paid circulation; Barron’s, Factiva, MarketWatch, DJX, Financial News, Dow Jones Risk & Compliance, Dow Jones VentureSource, and Dow Jones Newswires. Factiva alone has a database with almost 33,000 premium news sources, including licensed publications.
Channels
Dow Jones’s main channel is its website for consumers and its direct sales team for businesses. The company promotes its offerings through its websites, social media pages, and advertising.
Customer Relationships
Dow Jones’s customer relationship is primarily of a self-service, automated nature. Customers utilize its products while having limited interaction with employees. That said, there is a personal assistance component in the form of phone and e-mail support.
Key Activities
Dow Jones’s business model entails designing, developing, and distributing its products to customers.
Key Partners
Dow Jones’s key partners are the content providers that provide information for its various platforms.
Key Resources
Dow Jones’s main resources are its human resources, who include the media professionals that design and develop its products, the sales employees that promote them, and the customer service personnel that provide support.
Cost Structure
Dow Jones has a cost-driven structure, aiming to minimize expenses through significant automation. Its biggest cost driver is operating expenses, a fixed cost. Other major drivers are in the areas of sales/marketing and administration, both fixed expenses.
Revenue Streams
Dow Jones has two revenue streams: revenues generated from circulation/subscription sales and revenues generated from sales of advertising space to third parties.
