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Recommendations Extend and synchronize access The Future of Newspapers and Magazines in the Digital Era

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Recommendations Extend and synchronize access across multiple platforms.“The future of journalism belongs to the bold, and the companies that The appetite for digital content continues to grow as new technologiesprosper will be those that find new and better ways to meet the needs improve both convenience and the reading experience. Tablet reading inof their viewers, listeners, and readers.” particular has taken off, fueled by steadily rising iPad adoption. Magazine and newspaper publishers must find ways of serving up content to anRupert Murdoch before the US Federal Trade Commission ever-growing number of screens, ensuring the ability to synch reading across devices. Successful content offerings will follow the Netflix exampleNumerous newspaper and magazine publishers face a grim financial and show customers the same company through every channel or deviceoutlook due to dwindling subscribers and advertising revenue. Years of they own, but also optimize for each platform to deliver the best possiblediscounted subscriptions and free websites have accustomed consumers experience.to pay little or nothing for content, leading to lackluster responses to paidsubscriptions. Publishers need to innovate like never before to reach With so many devices on the market, media companies must planprospects and supplement advertising revenue with payments from users. investments carefully, starting with browser-based website optimization.Below are a few of the recommendations for action based on the results of Using the open web and HTML5 can help publishers maintain theirthis research: independence from Apple and Google. And those looking to create subscriptions bundling print, web, smartphone, and tablet access will find sites linked to developer-friendly ecommerce systems more flexible thanGet intimately familiar with prospects and in-app payment systems anyway.customers. Still, app stores can help users discover content. With the iPad expected to take 80% of the market this year iOS is a priority, but publishers shouldMany people, particularly younger adults, show willingness to pay for digital be cautious not to overinvest in applications. Since apps cost upwards ofmagazine and newspaper content, but most have not yet started doing $60,000, publishers must be certain expected benefits will outweigh buildso. Analog formats ported over to the digital realm have failed to create costs. Any app, whether free or paid, must offer consumers an incrediblycustomers. A sophisticated, multidimensional understanding of target high value proposition to inspire usage; even popular apps only reachaudiences is needed to craft user experiences and offerings that will attract hundreds of thousands of users rather than millions. Building re-usablepaying customers. User research, surveys, and analytics can help identify content elements to feed both the mobile web and multiple apps is a smartwho the best prospects are, what content and features they most value, way to go.which types of services or products they would pay for, what price pointsthey find attractive, and when they are likely to buy. Not only should publishers be cautious about build costs, but they should also be aware of in-app subscription terms that vary wildly in regardGaining a better understanding of how prospects value content in specific to customer data ownership, revenue share, and licensing restrictions.contexts will lead media companies to choose the right monetization Because they differ so much, publishers should take care to examine eachstrategies to acquire and retain customers, and help justify investments service independently.in content and functions based on their needs. The goal should not justbe to accumulate a bigger audience; publications must also foster a moreengaged audience to sustain themselves over the long haul.14 The Future of Newspapers and Magazines in the Digital Era www.elasticpath.com

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