Many newspapers and magazines suffered significant financial loss once they made the move to electronic publications. At first, many chose not to offer digital publications at all, but they had no choice but to ultimately make the move or otherwise lose business to their competitors.
The solution for many was to offer paid digital publications so that they did not entirely erase a source of revenue generated from those who used to subscribe to print publications.
While this seemed logical, most publications had to abandon or restructure their paid digital subscriptions. If not, they ran the risk of losing their readers to free digital publications. The financial loss from paid print and digital subscriptions was detrimental for many, and many publications went out of business. All suffered significant financial strain.
With the introduction of online advertisements, most publishers began to regain the revenue they had lost. However, some of the major players decided not to abandon the idea of paid digital subscriptions altogether. While most offer their publication for free online, those who invest in paid digital descriptions have access to exclusive news—and exclusive perks.
According to a recent study conducted by Quartz, 37% of executives around the globe continue to pay for digital subscriptions. The industries and business executives most likely to pay for digital news are:
- Financial 47%
- Consulting 40%
- Media And Advertising 40%
- Tech 40%
The publications most likely to secure a higher level of paid digital subscriptions are nationally and globally recognized publishers. One of the many benefits to paying for digital news is that they most often have less internal ads allowing readers faster access to the news they most desire.