The Times they are a changing
Within our agency there has been fierce debate today on the decision by the Times to offer a subscription based service for customers accessing their content online. The cost ranges from £1 per day or £2 per week.
We seem to be split straight down the middle, with half the office saying that it is a natural move for the Times and has been expected for some time. As we all know, the news agencies have been grappling for some time with the issue of revenue generation from its content as revenue generated by ad placement is not enough to sustain their profit margin.
However, the other half of the office are up in arms and, as i speak, are making juju dolls of the Times executive board. The strength of feeling around this subject is fascinating for me because i have a fairly pragmatic view on the subject.....really!
The Times has a particular type of audience that, at least i believe so anyway, will remain loyal to the brand and will see the subscription as being a nominal fee to access the content. Essentially, it serves to make the content more exclusive (will they try to incentivise the subscription by offering new content?) and those that don't want to pay will quite simply vote with their feet and abandon the brand for other news sites offering free for view content.
One thing is clear is that the news companies are in this together and i foresee many other news sites following the example of the TImes in the days ahead.....cynical maybe? i don't think so. I think that this type of "micro subscription" will be watched very closely by other brand marketers who are increasingly looking for new sources of revenue.
The Times they truly are a changing!
We seem to be split straight down the middle, with half the office saying that it is a natural move for the Times and has been expected for some time. As we all know, the news agencies have been grappling for some time with the issue of revenue generation from its content as revenue generated by ad placement is not enough to sustain their profit margin.
However, the other half of the office are up in arms and, as i speak, are making juju dolls of the Times executive board. The strength of feeling around this subject is fascinating for me because i have a fairly pragmatic view on the subject.....really!
The Times has a particular type of audience that, at least i believe so anyway, will remain loyal to the brand and will see the subscription as being a nominal fee to access the content. Essentially, it serves to make the content more exclusive (will they try to incentivise the subscription by offering new content?) and those that don't want to pay will quite simply vote with their feet and abandon the brand for other news sites offering free for view content.
One thing is clear is that the news companies are in this together and i foresee many other news sites following the example of the TImes in the days ahead.....cynical maybe? i don't think so. I think that this type of "micro subscription" will be watched very closely by other brand marketers who are increasingly looking for new sources of revenue.
The Times they truly are a changing!
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