What keeps you up at night? - Revenue (3/5)
Unless you have discovered the elixir of life, you are probably finding it harder to generate revenue from both content and advertising in the digital age.
IBISWorld estimates that 20% of magazine industry revenue is provided by advertisers, including both digital and print advertising. With newspapers, it is slightly different as the image below shows.
The jury is still out on paying for content. According to Reuters only 3% of those surveyed in the UK had a paid for ongoing news subscription. The most commonly cited reasons for paying are to get access on mobile devices, because of a good deal or print/digital bundle, or because people like to consume news from a range of sources that includes paid-for providers. Breaking news and reporting on latest news had the most influence on deciding to pay for content with the comment
“If I am paying for it I would rather be the first to know”.
It is therefore crucial to get editorial and advertising material to the right people, through the right channels in a timely fashion. Creating content once is the key, whether it is destined for print, social, web or anywhere else for that matter as productivity is increased no end. Giving your team the opportunity to access and make changes to the publication via a web browser, regardless of location, means this process can happen right up to the last minute adding value to your audience by providing the latest news as it happens.
If this sounds beneficial to your business, please talk to PCS.