The Online Publisher Association released a report this week based on its interviews with 12 media professionals at digital subscription publications, and while none of the findings are game-changing, the main points are worth repeating here:
- Digital subscriptions do NOT cannibalize print, and overall, have a positive impact on bottom lines.
- Digital subscribers tend to be younger than print subscribers, but a growing segment. In other words, while the average age for first-time subscribers has not changed, the percentage of first time subscribers that are digital is growing. With the millennial generation, digital subscriptions will likely be a consumer expectation, not a perk.
- Publishers are looking to develop expertise in digital marketing (particularly social media), platform partnerships and behavioral data analysis.
- Behavioral data analysis is also being used to reduce churn and increase retention. However, many publications are cognizant of the need to balance data-driven delivery and exposing customers to new content.
- Subscription data has given most publications an edge in advertising sales and contributed to a lift in CPMs.
- One of the biggest obstacles remains discovery in the digital world. So the digital subscriber acquisition funnel is constantly being tweaked and needs massive improvement on an industry-level.