Offer subscription discounts for a trial period to grow subscribers

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 11, 2021, 1:10 PM GMT+0

100 million or 8% of 1.3 billion English speakers globally are predicted to opt for news subscription.

According to International Media Association’s (INMA) report, 128 news publishers worldwide added an average of 58% new subscribers in 2020, as more people sought trustworthy news amid COVID-19. The New York Times with 7.13 million subscribers in Q2 2021 is the top publisher with the most digital subscribers.

The Washington Post and The Wall Street Journal reported having 3 million and 2.7 million digital subscribers in 2021. However, because a large portion of subscription growth is due to casual, occasional and picky customers, the next growth period will be more difficult, notes the report.

Publishers will have to convert light readers into heavy users. The non-news category reported 46% growth in Q2 2021. Publishers that offered discounted trials were better able to covert and retain subscribers.

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