Who’s won?
The Spectator, for their innovative and experimental approach to digital editions, online paid content, e-books and mobile apps.
And why?
Ben Greenish (pictured), MD, wanted to capitalise on the growth of the Spectator site, which was now attracting 350k UU a month. It had become a major forum for conservative political debate but this huge new audience wasn’t translating into any form of additional content based revenue. While print subscriptions remained solid, newsstand sales were slipping and it was logical to assume that some of these customers were wising up to the fact that the website included both unique debate and also free access to the complete content of the weekly Spectator.
Greenish was keen to separate the two businesses and build a pay wall around the 180 year magazine’s content to drive value back into the more costly created content.
New lower priced digital alternatives were produced for what was an upmarket and technically savvy audience. He took an approach of experimenting with a range of different ways for customers to receive the Spectator: a page turning digital edition priced at £67pa, a Kindle version priced at $5/month, and most recently an iphone app at 59p a week created with Exact Editions. Across all these formats, the Spectator has gained over 2000 new subscribers, with interestingly print subscriptions unaffected. One pleasing upside has been a 5% increase in newsstand sale corresponding exactly with the introduction of the pay wall.
Whilst the Coffee House forums remain free and are now financed largely through sponsorship, and the online version of the magazine is behind a pay wall, overall web traffic has returned to pre pay wall levels. Greenish is keen to continue his policy of experimentation; he has an upgraded i-phone app in development, and also has plans to develop a premium priced subs club with benefits such as offers on wine and travel.
Ben Greenish comments: “we believe that the people who sign up for an app, digital edition or Kindle version of the Spectator are good prospects for subscribers in future if we can make them the right offer”
Ben will be taking part in a panel discussion at the conference in the Specialist Media Show – so you can ask him yourself how the strategy is working for the Spectator.
