Deloitte Global predicts that half of adults in developed countries have at least two digital media subscriptions, and by the end of 2020, that average will have doubled to four.
Driven by the rise of online video and audio streaming services, the media consumers worldwide increasingly subscribe to online news, too.
In total, it is estimated about 350 million subscribers would have activated 580 million subscriptions by the end of 2018. Twenty million of them would have been news subscriptions.
Frustrated with challenges in monetisation of their content with advertising, many news publishers have started to charge consumers for access, and some of them found a great success, for example, The New York Times in the United States, or the Financial Times in the United Kingdom, or Amedia in Norway.
INMA is leading the news industry’s conversation on subscriptions with its signature Media Subscription Summit of which the second edition is convening on March 21-22, 2019, at Stockholm’s Hilton Slussen. The summit’s theme is “Innovating Around Consumers.”
The programme is built around the three key questions that the INMA membership network is asking: How to start a paywall? How to grow the media subscriptions after early victories? And what innovation is next in reader revenue?
In early 2018, at the first media subscriptions summit in London we talked about the first victories. Later in the year, at a consumer engagement summit in Miami we talked about how to get control over churn and keep readers engaged. This spring in 2019, we meet in Stockholm to focus on growth: how to break the ceiling?
Video and audio streaming companies run the world’s most popular media subscriptions, and they shape user expectations from news subscriptions, too. In this session, we want to learn best practices on data-driven product management from digital media industry leaders. Why does Amazon, Netflix and Spotify convert at 45% and more, while everybody in news gets 2%-3%?
Having converted most of the news brand fans and heavy users, publishers often face a challenge: how to grow reader revenue even further? One way is to sell more products to the existing customer base. Another way is to take paid offering to the mainstream market and start charging light and medium users. Based on original research and analysis, INMA will share exclusive insights and advice: what might be the next big thing in reader revenue?
Whatever a strategy, culture will eat it for breakfast, as Peter Drucker famously wrote. Consider news media journeys: from print-focused to primarily digital, from advertising-based to subscription-first, from product-oriented to customer-centric. In this session, we will learn from the news subscriptions leaders how they make it all work together: strategy objectives, talent, skills, culture?
Questions we will address:
After decades of chasing any audiences in print and online, news publishers have been reimagining its products and retooling its marketing tactics to attract and retain the paying consumers. In this case-study driven session, publishers from all over the world and all sizes will share their discoveries on what works best.
To attract new segments of consumers, some news publishers expand their bundles beyond news, and even develop new content-driven products such as newsletters, podcasts, verticals and apps. At the same time, some publishers enjoy a success with selling group media subscriptions to institutions and corporations, getting a boost to their numbers and revenue. In this session, we will explore the best practices in new content product and new customer development.
A number of journalism startups try to break to the market by unbreaking the news. Some of them address a broad market while others address a niche. Some focus on quality content, some on engagement. All of them wish to redefine what is news, and they are passionate about reader revenue.
Saving you time and effort, we summarise the biggest lessons of the summit’s first day in a bunch of witty insights put together into a convenient PowerPoint. Take it home, be a hero.
In 2018 in London, the news subscriptions leaders such as Wall Street Journal or Dagens Nyheter of Sweden shared their success stories and inspired many participants such as La Vox de Galicia in Spain. For this session, we invite our past speakers and participants to share an update: What has happened to their growth since then? What is new that they work on? And what is on the horizon?
For years, the subscription-first news publishers have been focused on converting the most profitable customers, and have been monetising the rest with advertising. Although only 2%-3% of all visitors subscribe, annual revenue per subscriber can be even 100 times higher than ARPU of a free visitor. In this session, we invite the industry movers and shakers to share their perspectives: how to get more people to pay, and how to improve revenue per user for non-subscribers?
While revenue from digital subscriptions is fast growing, news publishers still make a lot of money with display advertising, sponsorships and branded content. Is there a conflict between these two business models, or perhaps a synergy? In this session, we will break down issues as targeting vs. reach, user experience vs. advertising inventory, and learn about how to make balanced products on top of it.
Saving you time and effort, we summarise the biggest lessons of the summit in a bunch of witty insights put together into a convenient PowerPoint. Take it home, be a hero.
You can’t manage what you can’t measure. News publishers all over the world reimagine their key performance indicators and sometimes choose to follow “North Star” metrics. They share data across organisations with unique dashboards for their executives, marketers, and editors. In this first and only exhibition, we will look into the best practices of in-house and vendor analytics tools and allow everybody to play with them.