August 25, 2016 | Danielle Chatterton
Digital Media is still struggling with revenue despite an increase in numbers of paying readers. In recent years, the Guardian has experienced huge losses despite recording a growing number of readers across their digital platforms.
The opposite to The Times, who are reportedly experiencing growth in profit, despite a relatively small number of subscribers. Most of that profit is down to their paywall with digital subscription totalling 182,000 readers across The Times and The Sunday Times, with subscription fees of around £6 per week.
From 5th September, The Daily Mirror is going to start charging for access to its weekday tablet edition, which has been free since launch in 2012.
In a letter to tablet readers Mirror group editor Lloyd Embley said: “The news industry is facing unprecedented challenges, but in this momentous year, I firmly believe properly resourced, independent journalism you can trust is more important than ever. Our new charge works out at just 23p a day. I hope you agree this still represents great value for our award-winning exclusives, agenda-setting columnists and unrivalled team of experts.”
All media outlets are competing fiercely but there is still a massive movement of new media trying to snatch readers by enticing them with free content. Reassuringly though, it appears, paid media is still of great relevance and substance with readers advocating that they will pay for the media that suits them best. This generates a requirement for a heavier focus on content.
For Publishers this introduces the need to evaluate which additional services actually enhance the reader experience. The Financial Times for example, makes most of its money from content, essentially flipping the modern newspaper business model on its head. More behavioural and demographic insights that come with membership plans and paywalls, helps newspapers move towards more valuable engagement metrics like time spent.
Read our ‘Subscription Models’ White Paper to discover the various types of models available and how they can assist in driving revenue.