As FIPP’s Digital Subscription Snapshot shows, publishers are determined to make reader revenue models work. Research shows that readers are becoming more comfortable with paying for content, yet, research also shows that only a small number of readers pay for content at all. A 2017report suggested while people did pay for ongoing subscriptions, it was actually more common for people to pay for one-off single-edition purchases, donations and print and digital bundles. In this interview, I spoke with FIPP to discuss why, a few years later, this still rings true.
- We now see what I would call the new reality of publishing – revenue might be plateauing and that there might be limitations of subscription models.
- Publishers should look into low-friction models, to make it easy for people to become first-time subscribers.
- In order to have success with reader revenue models, we need to offer ease of use and accessibility. We have to make it simple and fast for them to succeed.
- You need low-friction models to get non paying users to pay perhaps for the first time ever or to give you some money even when they already have a subscription with someone else.
- Every time someone says, ‘yeah, I will buy this article for 50 cents and pay later,’ you build trust and value with every click.
- Consumers will pay for subscriptions to very few things that they really value, and magazine media offers exactly that type of trusted, authoritative content that their audiences really value. They just have to make it easier to onboard readers and convert them into paying subscribers.