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This is another good’n from our very own P Houston, looking at the reasons why publishers need to be investing time and resources in marketing for growing reader revenue. There are obvious commercial benefits from doing that, but what’s particularly interesting here is that there are hidden challenges from doing so that might get glossed over or sublimated when publishers are looking to commit those resources.
The piece quotes Matt Broad of subscription service Piano as saying: “If there’s a single most important factor in successfully marketing a subscription program, it’s having a top leader in the newsroom and someone on the business side engaged and in agreement that subscriptions are the priority.”
Now that’s easier said than done when money is tight and you’re looking for any and all sources of revenue you can. Luckily, as has become patently obvious over the past few years, you can make subscriptions the priority without sacrificing other revenue streams like advertising, events or – whisper it – NFTs.
TIME was 100 last week, and we took the chance to speak to its Editor In Chief and CEO Edward Felsenthal about how the publication made it to its centenary. He tells us about the tradition of innovation at TIME, building trust with global audiences, and how legacy is not a bad word in magazines.
I just feel it in my water. There’s another pivot to video coming and Facebook is going to be at the forefront of it. Think about it: we’ve seen a lot of publishers investing in TikTok content and by all accounts that’s going well. So if Meta come to those same publishers and say: “Psst, hey. There’s big money in these Reels” I hope to god we have the fortitude to turn them down.
We love dissenting voices here at Media Voices! Sometimes if we get too many people agreeing with us we start fights among ourselves just for the kick of it. So for Peter’s benefit, here is a rebuttal to a discussion we have in today’s new podcast about where there might actually be some danger to journalists from generative AI.
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