How magazine publishers should approach reader revenue
In this videocast, Pete and Tyler discuss how magazine publishers can grow paid subscriptions and maintain digital ad revenue at the same time.
Highlights
- Magazine publishers can grow both their ad revenue and grow their audience
- Remove popups and other annoying obstructions that drive your readers away
- Setup a free registration to collect casual reader emails addresses
- Your paid subscription will grow alongside your reader email collection
The discussion between Pete and Tyler revolves around the importance of magazine publishers focusing on nurturing reader revenue to grow their audience and overall revenue. Pete shares his experience at the NICHE Media conference where he discovered that only a small percentage of publishers were actively pursuing reader revenue. He challenges the idea of solely relying on advertising income and emphasizes the need to prioritize reader revenue to ensure survival and growth.
Pete suggests several strategies for magazine publishers to adopt. First, he recommends building a loyal and engaged audience by understanding readers’ interests and preferences and delivering valuable content. He emphasizes the importance of offering a positive reader experience on digital platforms and avoiding intrusive elements such as pop-ups, ad blockers, and other annoyances.
Pete highlights the significance of transitioning magazine content to a web-based format that is easily accessible and shareable. He emphasizes the benefits of letting Google index the content and allowing readers to share articles on social media, thereby greatly increasing website traffic and visibility.
Another key strategy discussed is implementing a free registration process to capture casual readers’ information and nurture them through targeted messaging. By gradually introducing paid subscription options, publishers can convert registered readers into paid subscribers over time.
Pete concludes by explaining the positive outcomes of adopting these strategies. He notes that website traffic can significantly increase, email lists can grow, digital subscription revenue can become a major income stream, and advertisers can benefit from a larger and more engaged audience.
Overall, Pete emphasizes the importance of magazine publishers embracing reader revenue as a crucial component of their growth and financial sustainability.
