Media companies have figured out that in order to sustain a healthy business model, it’s all about distributing their unique, niched-out content through various channels. This includes print, digital, webinars, videos, podcasts, social media and more.
As niche publishers, how do you best manage the process to drive these various audiences that consume your content? Do you provide value to each audience on each channel so they believe your product or service is the one for them?
Jeff Litvack, Adweek’s CEO, shared his insights with our niche publishing audience at our Super Niche event in 2018. Here are three audience development trends he recommended for 2019 — check your progress!
The implications of “think mobile first” in terms of ad offerings, training, selling, product and hiring are significant.
The value to most publishers is meager. Based on a survey of Digital Content Next members – including NYT, Bloomberg and ESPN –platform partnerships accounted for just 14% of total publisher revenues. And of that 14%, 89% was from advertising sold directly by the members. Remaining 2% came from licensing fees, production fees and subscription or transaction revenue sharing.
Check out these social media facts:
The New York Times has successfully changed the focus of their distribution in a big way.
The NYT has determined new subscribers have a particularly high lifetime value:
The NYT now has 13 million subscriptions to 50 email newsletters. After showing such strong subscription growth, the NYT now has a total subscription goal of 10MM by 2025 (MarketWatch, February 2019.)
Editor’s note: This post has been updated from the 2018 original.
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More about Jeff Litvack: Jeff Litvack is the CEO and a member of the board at Adweek. He is a digital media native who leverages his 25 years of operational, strategic and financial expertise to help media companies and private equity firms in sourcing, evaluating, and transforming acquisitions.
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