Publishing and Media Expo: expert opinion

After launching, acquiring, running, and selling media businesses across print, events and digital; Carolyn Morgan is a well-known commentator in the magazine publishing industry.

In the run up to Publishing and Media Expo, we spoke to Carolyn to find out what she’s expecting from the show; and how she sees the industry evolving.

1. Your focus is on the transition of magazine publishing to digital channels. What are you seeing that really works at the moment?

A number of publishers are doing well in a different ways. Over the past year, we’ve seen a number of magazines launching digital only titles, many on a weekly frequency rather than monthly. Some of these have been huge successes and others less so; however what interests me most is the way publishers are starting to experiment and break away from the simple digital replica.

2. How does this differ between B2B and B2C publishers?

Some business publishers are starting to abandon print completely as their readership read almost solely on digital devices in the workplace. The consumer market are some years behind, simply because some of their customers are still happy reading print versions of their magazines. What consumer publishers are finding though, is that their digital publications are helping to open up new international markets, which were hard to reach through print.

Research shows that weekly digital magazines are read more intensely than monthly magazines, and a number of monthly magazines are releasing their digital content in weekly editions, to increase engagement, rather than expecting readers to wait until the end of the month. Others are adding real-time updates from their website to their digital publication.

3. And the question everyone asks … how long until everything is digital?

I actually surveyed a group of publishers on this a couple of years ago and B2C publishers then thought they had around 10 years left, publishing in print; B2B publishers were guessing 2 – 5 years – this appears to have been an accurate estimate.

4. The UK’s only Multi-platform publishing event. How long do you think we’ll be referring to ‘multi-platform’ for; rather than assuming everything works on a number of devices?

The term multi-platform, meaning print plus digital, is still relevant today as publishers are at different stages of digital development. A gardening publisher may have a more conservative audience and will take longer to reach the same stage of digital development, as say a B2B publisher.

It’s also important to remember that multi-platform refers not just to the magazine, but to the media brand as a whole. There are magazine brands which have been totally driven by social media, and use feedback and responses on these platforms to develop the concept for the magazine. Media brands sit at the centre, as an authority and expert in a topic, and the brand can communicate with their audience on any platform. Magazines have moved away from simply pushing content out to their audiences on a number of platforms; they now have a two-way dialogue and the “platform” itself can refer to social media, live or online events and e-newsletters as well as print, web and mobile.

5. What do you think we’ll be hearing about at Publishing and Media Expo this year?

Stories about how people are doing things. There’ll be less speculation about the future and ‘mobile device usage’ charts, and more information about what is actually happening and how publishers are experimenting.

There will be talks explaining how to get advertisers to support digital content; as much as they do the printed page. Advertisers expect to spend less on digital, so publishers fear losing that extra revenue. I expect we’ll hear how publishers have successfully tackled this.

Follow @carolynrmorgan for updates from the show; and @yudu media for our commentaries.

Publishing 360: The Future for Magazines

Publishing 360: A conference created by, and for the Irish magazine publishers.

This Wednesday the 24th our CEO Richard will join a panel of publishing big dogs to discus the latest trends in the magazine industry at the Publishing 360 The Future for Magazines digital forum. The conference will examine the integration of print and online strategies; revenue growth through product development; the re-definition and re-skilling of publishing roles; the balance between consumer and B2B strategies; the changing relationship with the audience and finding the best way or combination of ways to deliver content among the many options (a lot to cover between the hours of 8am – 1pm, impressive stuff).

Our CEO Richard Stephenson will take to the stage at 10.50 to examine the route to app success, discussing how publishing brands must extend themselves rather than merely produce an iteration of what they do in print as readers now expect the app to do something else that broadens their experience of the brand.

The event takes place this Wednesday 24th of April 8am – 1pm at the Clyde Court Hotel, Dublin. To find out more and to book a place click here.

 

Dual Subscriptions

Why use Dual Subscriptions?

Publishers sometimes view Apple’s App Store as a rather mixed blessing.

On the plus side, the iPad is seeing tremendous usage as a reading device, particularly for publications with rich content: full colour pages, highly designed layouts, embedded multimedia assets all play to the device’s strength and provide an unparalleled reading experience. And the App Store is the single biggest distribution channel for iPad content.

The App Store then took a further jump forward with the addition of Apple’s Newsstand. That brings together magazines and newspapers in one place within the Store, making it easier for users to browse through for interesting reading material and encouraging them to begin consuming that content regularly. Initial reports show the Newsstand has got off to a stunningly successful start: the New York Times received an immediate seven-fold increase in app downloads; Future Publishing reported a 750% increase in digital sales; Conde Nast saw subscription sales climb 268%.

The catch is the conditions Apple attaches. All sales through Newsstand and the App Store are subject to Apple’s 30% cut of the revenue; and the only information about the subscribers that the publishers receive is that which the subscribers agree to share. Since subscriber data is important for securing advertising, this weakens publishers’ income stream from that direction as well.

But marketing a publication without the App Store can be a lonely business. The Financial Times has famously taken this approach, but there’s been a striking lack of imitators following the trail thus blazed. Most publications simply don’t have the luxury of cutting themselves off from such a critical distribution channel.

The solution for most publishers is to sell through as many distribution channels as possible. However, this can’t be done piecemeal. Users who have paid for content once feel entitled to access regardless of the platform. A reader who has bought an online subscription to a title then finds that to read it on their iPad they need to make a separate purchase is more likely to leave angry reviews than to pay again.

The YUDU publishing platform solves this problem, with a feature called dual subscriptions. When an existing subscriber opens an app with this feature enabled, the user can provide login credentials and the app immediately grants them access to the content they’re entitled to.

Dual subscriptions workflow

How does it work?

To the user it’s as seamless and simple as logging in to get access. Behind the scenes the software has a complex three way communication task to organise, between the publisher’s website, the central YUDU platform, and the iTunes store.

Firstly, on signing up a new subscriber, the publisher’s website needs to provide their details to the YUDU platform. The smoothest way to do that is by sending the information over our web services API, although some companies prefer to use periodic bulk uploads of subscriber data instead. Another option is to use a third-party fulfilment house to handle the subscriptions and set up an integration between them and YUDU; the publisher can then take themselves out of the nitty-gritty of subscriber sign-up entirely.

When the user logs into the app, the device securely transmits their authentication credentials to the YUDU platform, which checks the credentials against its record of existing subscribers. Where the publisher has arranged an integration with a third party subscription fulfilment company, the platform can instead pass the authentication request on to an API provided by that company, to confirm the subscriber’s identity that way. If the subscriber is recognised, the platform grants them access to their owned content.

Conversely, when the user makes a purchase through the App Store, this is in the first place a transaction between the user’s device and iTunes. However, the software then reports the purchase back to the central platform, so that it knows allow that user to access the content in question. The platform needs to perform an additional exchange with iTunes to verify that the purchase is genuine. And that – apart from a couple of other checks to ensure users can’t spoof their way into content they’re not allowed to access – is that.

Making a bundle

A fairly typical figure quoted by one of our clients recently was that they were getting 62% of their sales through the App Store, and the remaining 38% through their website. That in itself is a compelling argument to not neglect either sales channel – both are important. But by allowing subscription sales outside Apple’s ecosystem, the dual subscriptions system also opens the door to selling bundles of content.

Apple’s Newsstand allows sale of title subscriptions and of single issues, but doesn’t provide a way to sell access to multiple titles at once. However, sales through a website aren’t subject to the same limitations. Publishers with multiple titles can set up multi-title subscription bundles, even where each title uses a separate app, and subscribers can gain access to all of them with a single purchase.

Discount codes are another option with huge potential – iTunes doesn’t support them, but publishers’ websites can.

And of course, whenever a sale takes place through the publisher’s own website, the publisher receives all the subscriber’s details.