In the news: Subscriptions were up in 2020. Will gains be fleeting or long-term?

Last year, publishers saw significant gains in subscription revenue, reports Sara Guaglione of Digiday.com: “Subscription revenue for publishers grew 16%, according to a study by subscription management platform Zuora; around a fifth (21%) of American adults now pay for at least one online news outlet in the U.S., according to the Reuters Institute Digital News Report 2021.” It’s good news for a chaotic pandemic year that brought myriad staffing, workflow, and logistical challenges.

The question is whether or not the subscription gains are pandemic-specific or enduring. “Retention rates are holding steady -- for now,” Guaglione says. “But to ensure that they can keep the customers they’ve won over the past 18 months, publishers are hiring more people focused on keeping and bringing in subscribers and also investing more in content across multiple formats to add to the value of a subscription.” Read more about how specific publishers are attracting, and keeping, subscribers here.

Also Notable

Improving News Accessibility

How can news publishers reach vision- and hearing-impaired consumers? Katya Bandouil of Poynter.org examines the issue this week. Among those publications leading the way, she says, is the Texas Tribune: “Off-platform editor Regina Mack said that their newsroom uses alternative text and called on other organizations to follow suit.... Alternative text is a written description of what is shown in an image. It can also help assistive technology, such as screen reading tools, to interpret images.” Other tools that can help readers with special needs include captions and transcripts. But, ultimately, Bandouil advises publishers to reach out to affected readers and ask what would make news content more accessible to them. Read more here.

Should You Consider Programmatic Advertising?

As programmatic advertising takes root in the publishing industry, many publishers are considering taking the jump. In a recent piece, The Fix (part of What’s New in Publishing) examines how programmatic can drive revenue and what criteria a publication needs to come on board. There are advantages, The Fix says, including more revenue from less effort, but also distinct disadvantages: “The auction is fully automated, but both publishers and advertisers need dedicated staff for process control and optimization.” Read more here.

Fashion Magazines Try NFTs

Are non-fungible tokens (NFTs) the next lucrative revenue stream for fashion magazines? Vogue is about to find out. Maghan McDowell of VogueBusiness.com explores Vogue Singapore’s foray into non-fungible tokens in its September 2021 issue. “NFTs offer a potential revenue stream for magazines, while the positioning gives readers a chance to evaluate exclusive, digital items of value,” McDowell says. “NFT and fashion magazine tie-ups can help translate the value of non-fungible tokens for the fashion crowd as well as give print media a new angle of relevance.” Vogue Singapore’s September issue has 15 NFTs for sale. Read more here.

How Magazines Are Cutting Costs

Earlier this month, Beth Braverman of Foliomag.com took a look at how magazines are cutting print costs, increasing automation, and realigning staff to meet the industry’s changing needs. “Holding down costs means taking a look at expenses across the board, from little things like office supplies and catered lunches to big ones like printing and postage....” she writes. “The trend toward fewer, higher quality issues carries on, as publishers continue implementing frequency reductions in print magazines.” But it isn’t just about cutting overhead costs, Braverman says. “The most painful cost-cutting strategy for most publishers, of course, is staff reductions.... Even magazine companies that aren’t implementing layoffs are looking closely at staff positions for ways to meet changing demands without increasing headcount.” Read more here.

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