Highlights from FIPP London 2016
Over the last 30 years, there has been a real struggle for publishers trying to monetize their content. Audiences have been jumping from platform to platform in their efforts to consume their favourite content, the truth is, publishers have struggled to keep up.
From print to desktop and now mobile, quality content is available 24/7, publishers have to provide not only the best content but also the best user experience to keep up with the competition.
Food for thought:
- Between 2005 and 2014, publishers lost $30b in advertising.
- 40% of users in the US and the UK use ad-block software, people want the content but not the banners that pay for it. “Go out and pay for it yourself then?” you might suggest, alas no, Newspaper weekday circulation has fallen 19% since 2004 and shows no sign of improvement.
With challenges such as these there are always opportunities, for example, when executed properly, ad revenue can be the win you have been looking for – think about this for a second – mobile ads Generated 80% of Facebook’s $5.6b ad revenue in Q4 – 2015…. 80%
In 2012, digital content accounted for a measly $275m in revenue, move forward to 2017 and it is predicted that this number will have rocketed to $1.4b.
There are formats of digital media for which people are not willing to pay, and not willing to even see adverts on, but the good news for traditional journalists and content writers, if you create something of quality and depth, people are getting around to the idea that not everything online is free. People will happily pay for quality, for example, the Financial Times and the Economist’s online publications. People pay for these for the quality of the content and also because they provide multiple choice UX experiences, you can read the same article regardless of the screen size you are looking at.
So how does this new modern content consumer pay for things? There is no newspaper stand attendee anymore, no cash exchange, there is an app for all of that. They don’t even queue to pay cash at Starbucks, even a chai latte in the morning is click and collect (bet you can’t tell who orchestrates that?).
Most people are subscribed to their music and video content after all.
Nobody likes friction.
With mobile there are several seamless payment methods, mobile billing can help publishers not only acquire new users but they can also use this information to retarget users in a highly successful manner, leading to great sales and retention figures.
With 4x higher conversion rates to debit/credit cards, mobile billing provides a seamless and frictionless payment method for mobile content.
In the UK, digital content spend for 2015 was £4.7bn and one growing sector was epublishing which is still in in its infancy as a paid model. The future is bright.
It is already apparent that this is an area which not only is proving itself to be stronger and stronger as time ticks on, the predictions for e-publishing in mobile is one of our predicted growth points over the coming years.
This as mentioned, might not be for everyone, but if you are looking for a seamless and enjoyable format for your readers to access your quality content, then mobile really is the way to go.
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