One of the most important strategies to evaluate your publication’s circulation is that of tracking your digital magazine subscription. This blog deals with the relevance of digital subscriptions in the current market and some key aspects to consider when tracking its performance.
Why are digital magazine subscriptions important?
The panorama for paid digital circulation is promising based on recent researches in this area. According to an article, over the next five years, both magazines and newspapers will enjoy large gains in paid digital circulation. The article reports that based on findings from the PwC ‘Consumer magazines in North America collectively took in about $4 million last year in digital circulation revenues; by 2015, that will climb to $611 million’. Another article also points out that the Financial Times has reported that currently their digital subscribers outnumber those in print and their digital revenues account for half of all in sales.
A key aspect to track your digital magazine subscription is that of implementing a business model which can allow you to evaluate effectively the performance of your digital subscriptions as well as providing engaging offers to your audience. Techcrunch.com reports that the Financial Times has been implementing a Freemium model, mixing limited free content with tiers of wider content access for those willing to pay. Moreover, the Financial Times has also invested in an iOS-optimized web app and currently has 2.7 million users accessing the site through its web app – a combination of users registering for free, limited access and paying subscribers. Another important digital initiative implemented by the Financial Times is called GatekeeperIQ, which is a subscription-based service to track large, retailer investment platforms.
Tracking digital magazine subscriptions implies finding and implementing a business model which can allow you to make a good evaluation regularly. This information is vital to make the necessary changes to increase your digital subscription.
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By 3D Issue