In this article we offer the 3 best strategies and practices to monetize publisher content. Here are the best publishers monetization models and business strategies for 2022 and beyond.
In 2022, the publishing industry has reinvented the wheel of what it means to monetize publisher content. With the rise and constant adaptation of the internet, publishers are now able to deliver content faster and more efficiently. Throughout the past twenty years, the internet has been the primary platform used by publishers to monetize their content. Many have shifted their production model, backing off printed publication in favor of the new, streamlined digital model.
Now any publisher can monetize using a direct business-to-consumer selling model. Alongside this, publishers have also been offering free content to entice users to eventually buy a subscription or pay to pass through a paywall to read more. With the advent of both of these strategies advertising continues to play a large factor in monetization overall. Often, publishers employ targeted advertisements to pick up the revenue slack on the free content they offer. This way, they ensure returns even if a consumer does not choose to pay for more content.
The current trend among some of the most successful publishers outlets is to use a combination of freely produced material with advertisements attached and selling a subscription model. This trend comes from the increased need for publishers to engage in multiple revenue streams. The majority of publishers that have seen success in monetizing their content report using the hybrid model and offer a certain amount of premium content. The key to maximizing profits is to be seen as a company that has a unique but accessible take on publisher content while maintaining some level of exclusivity in their product. Premium content has been the best option for achieving this.
Publisher Monetization Models
Publishers have begun to wise up to the fact that traditional digital content monetization approaches are no longer the best strategies to use for turning a profit. The pressure from the last fews decades has caused a large shift in the publishing industry. Not to mention, with the pandemic pushing more and more people online, publishing had no choice but to follow the new digital market and adapt. Therefore, the key to successfully monetizing publisher content is to have a solid strategy based on current best practices and stay nimble and prepared for change.
Now, there are countless tools publishers can use to monetize their content. Hiring freelance experts to write content, outsourcing to users for branding boosts, automating their content, and publishers now have a wealth of digital analytics they can use to optimize their content to perform at its highest capacity. Below are the newest and most effective trends in publisher content monetization. Each of these business models are optimized for digital publishers. From news publishing, to digital content and even streaming video, these models offer something for every digital publisher.
Drawing from the emerging trends towards monetization, we take a look at the various aspects of online publishing business model opportunities and how they can be combined into viable business models.
1. Premium Content
Premium content has reached the top of the publishing food chain. The demand from audiences for high quality and reliable content is higher than ever. If publishers are willing to do the legwork, there is money to be made from producing high-quality content. When publishers adopt this model, they can make the most money from restricting access to this content. Publishers can place their content behind paywalls and subscriptions. This can be beneficial for obtaining a reliable revenue source. Advertisers are also likely to place ads on premium content sites since the web traffic is normally higher and the content is unique.
It is important to note that producing content in-house is the foundation for the publisher monetization model. While the content is unique, the staff costs can be high. Especially when publishers are looking to produce reliable content, the hiring cost for expert writers can lead to sticker shock. Due to the upfront costs, it can be difficult to see returns quickly. Most sites need to wait at least eighteen months before seeing revenue from premium content.
2. Subscriptions
With premium content in high demand, media outlets need to be certain they can meet the cost of producing this content and still come away with revenue. In order to profit from this type of content news media outlets have turned to installing subscriptions.
In essence, subscriptions have a user pay a given amount to receive access for a certain period of time before charging again. Many digital publishers have seen success with a subscription model. Notable presses include the NY Times who brought in 7.5 million subscribers in 2020. What’s more is that the NY Times jumped to 8.5 million subscribers in 2021 and brought in $50 million in revenue from digital subscribers alone.
3. Paywalls and Tiered Access
Paywalls are similar to subscriptions in that they require a fee to access. However, they differ in that paywalls are often a one time access fee per article a user is trying to view. That being said, not all paywalls require users to pay with money. Some encourage readers to whitelist or bookmark a page for further use. Digital publishers can even allow free access to a particular article if a user provides their email address. The purpose of this is to later send promotional emails to encourage a particular reader to come back for more content. Even more, the price of an article can be personal data exchange, and even free advertisement for the press. Tiered access helps to support a paywall model in that users can pay more to access more. They are a great compliment to paywall implementation. A user can pay to pass one paywall and then make further purchases to go deeper into a site.
Partner & Grow with Invisibly
Many publishers have found success by staying up to date on trending monetization models. Furthermore, publishers can expect to see increased success by incorporating multiple revenue streams into their sites. This adds extra security as they experiment with different revenue strategies. Knowing exactly how to monetize news websites is crucial to publisher and business success. The options above, should give news publishers a head start in monetizing their content. For more publishing trends and premium content information, head to Invisibly’s blog page to discover more.
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