As publishers shift their business models to digital, many are finding that it\u2019s not as easy as putting up a paywall or creating a subscribers-only, PDF-like experience. Particularly in the magazine industry, publishers are learning that they need to get more creative as they diversify their offerings. The model that so many magazine publishers have followed \u2013 putting their print publication online in a close-to-the-original experience \u2013 hasn\u2019t yielded substantial growth. The formats don\u2019t translate well to mobile devices, and since third-parties are typically used to create the digital experiences, publishers don\u2019t gain the benefits of first-party data they could use to inform monetisation strategies.<\/p>\n
Magazine publishers need to think outside the box and beyond the paywall in order to diversify their offerings and build new revenue streams. Print isn\u2019t dead, but it has plateaued, and digital is where the growth is. However, publishers can\u2019t think of digital as the only option, either. The idea is to deliver content to users when, where and how they want it \u2013 while still growing revenue. That will require diversification.<\/p>\n
The type of diversification varies greatly from publisher to publisher, but the key is to think creatively and openly about what could work, and not be limited by \u201clegacy\u201d thinking. While there are some publishers following the more traditional path of ad and affiliate revenue or pay-to-play content, these are not the only options \u2013 not by a long shot \u2013 and many publishers are looking far ahead. There is life beyond the paywall, and some brave players are forging new roads. Here are a few innovative ideas we\u2019ve already seen for diversification:<\/p>\n
Also in lockstep with brand and subscriber values, Runner\u2019s World released a run tracking app that includes editorial advice and tips on running, along with local weather reports and more helpful content. There is a free version of the app, but the publication also offers a subscription for premium content, including extended training plans.<\/p>\n
In a different take on retail, Cond\u00e9 Nast has a growing branded subscription box service for publications including Brides, Cond\u00e9 Nast Traveler and Teen Vogue. Boxes in the \u201cslim but profitable<\/a><\/u>\u201d operation range in prices, but generally include a variety of premium trial-sized items for the subscriber to sample.<\/p>\n\n