The New York Times is in the early stages of developing a digital subscription product for families called NYT Kids, executives tell Axios.
“"Beyond the subscription revenue itself, it's also a chance to actually start talking to people earlier in their lives before they might be ready for a New York Times product," says Perpich.”
The Q3 2020 Digital Publishers Revenue Index (DPRI) from the Association of Online Publishers (AOP) and Deloitte, shows that the shift to subscription revenue amongst UK publishers has gained serious momentum. A majority of digital publishers witnessed positive revenue growth, on the back of high subscription levels.
“The latest figures, released this week, have found that between Q3 2019 and Q3 2020, subscription revenue amongst publishers included in the AOP’s survey (comprising 14 B2C publishers and four B2B publishers) increased by more than 51%.”
The British political and cultural magazine now has more subscribers than at any point in the past 40 years.
“This growth is a trend we expect to continue – our target is to hit 50,000 subscribers over the next few years – and we will continue to launch new products for our subscribers and engaged readers.”
Bloomberg Media is expecting to bring in at least $100 million in subscription revenue in 2021, following a 135% revenue increase in 2020, according to an internal memo sent to staff from the CEO.
“Prior to the launch of its consumer digital subscription business three years ago, Bloomberg LP made pretty much all of its subscription money from enterprise subscriptions to the Bloomberg Terminal, a data and content platform for financial professionals.”
British regional publisher Newsquest, which runs 160 local news websites, has seen a surge in its digital subscription business, without a "significant constraint" on traffic, after introducing a metered paywall across 70 of its sites in April and May.
“Local news sites in the UK command huge engaged audiences and have become the online destination for people who want trusted news, information and insights about what’s going on in their community.”
Swedish media analysts Mediavision notes that the growth of paid newsletters that invest in quality journalism - with Substack as the main name - may mean increased competition for the media houses.
“We know that people are willing to pay for high quality journalism, but does that necessarily mean spending money on a subscription to a traditional newspaper? Perhaps not – newsletter subscriptions might be the new kid on the block.”
Many publishers are looking at The Times and try to copy some strategies, and there are lessons that can be applied even to a smaller newsroom, but it is unreasonable to expect anyone to replicate Times' success at the same scale and timeframe, writes TheFix in an analysis.
“Each quarter, FIPP puts together a Global Digital Subscriptions Snapshot. Looking at the table with subscriber counts for the fourth quarter it is obvious The New York Times has a lead as if playing in another league, it’s 7,5 million subscribers are followed by The Washington Post with less than half of that.”
Local outlet The Journal, covering Yonkers, New York, moved away from a focus on crime and corruption towards a more people-focused reporting, and thus managed to build trust and cultivate new, diverse audiences — growing subscriptions along the way.
“Our percentage of low-use subscribers declined from 33% to 22%, while our percentage of highly engaged subscribers grew from 32% to 38%.”