-
It is estimated that there is a combined bag of digital subscribers to newspapers of almost one million.
-
This strategy became popular with the Covid-19 pandemic.
-
In Spain, the leading media in paywall subscriptions are El País, El Mundo and La Vanguardia.
The digital world has established a new economy in the world, where not only content creators, influencers, or companies are monetizing, but also traditional media are generating income from their information. Recently, Time Magazine reported that it will remove paid content from its website to return to its free information.
The current situation where everyone is generating content and information on social networks has led the media sector to make changes to their business model, and especially in the way they relate to their readers.
That is why from time to time, digital subscriptions emerged, which stand as one of the main strategies with which to generate income and monetize content.
In terms of marketing we can define that digital subscriptions are a form of business that has grown in recent years, since this type is not like the traditional ones where a customer visits a physical or online store to purchase a product or service and then It will take some time for me to buy again.
In the media industry, this phenomenon has been seen in most countries and according to data from the Digital News Report Spain 2022 report from the University of Navarra, 31 percent of people chose to jointly subscribe to a media package printed or digital, which represents an increase of eight points.
In the same report, prepared by researchers from the Faculty of Communication of the University of Navarra, based on a survey carried out by YouGov in collaboration with the Reuters Institute of the University of Oxford, it reflects how the era of free is behind us for the main news groups in the world.
Time magazine abandons paywalls
As part of a new Time magazine strategy, it decided to remove its paywall, so that certain content will be free and open.
This information was confirmed by the American media, which confirmed, its executive director, Jessica Sibley, that it will eliminate this restriction from June 1, which forced users to pay a subscription to access certain content.
This information comes, within the framework of the celebration of the 100 years of the American magazine. Let’s remember that the media company had been applying this subscription strategy for 12 years, so they currently have 250,000 digital subscribers, in addition to the 1.3 million print subscribers who receive the magazine physically.
“This will be an opportunity to reach more audiences around the world, which are younger and more diverse,” he said in an interview with local media.
Likewise, the directive confirmed that it is a change that does not affect the editorial content, “so they will continue to deal with the same topics and rely heavily on some key focus areas such as climate, sustainability, medical care and politics.”
In that same order, they explained that so that they are not affected by this new path, a new strong job will be done on the digital content with advertising that will be available on their website, their mobile application and on social networks.
“We know that in the media, we are always looking for new models and we continue with our journey of innovation and digital transformation. Which includes understanding consumer behavior and making sure we’re moving in the right direction with regards to how consumers are interacting with content,” he said.
For its part, the outlet will maintain the paid subscription in printed format and the sale of the magazine in digital format through electronic stores.
In a completely digital age, many companies are monetizing in various ways, but this movement by one of the most important media outlets in the world can lead other communication companies to make their information available for free, in order to reach new audiences. generations.
Now read:
Tom Ford says goodbye to the world of fashion
WPP Reports Strong Financial Results in Q1 2023 and Fiscal Year 2022
How much will Rosalía charge for a concert in the Zócalo?
