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Publishers, What’s Your Next Step?

Wright's Media

When you take a look at your business model, it is likely that subscriptions, ad sales, and events make the largest contribution to your income. And it appears these sources of revenue will continue to perform - global spending on media is forecast to rise at a compound annual rate of 5.1 percent during the next five years.

So whether you are looking at subscriptions, ad sales, or event income, it takes a significant investment of time and assets to successfully implement a strategy to monetize each channel.

But even a bulletproof strategy won’t guarantee that your publication will rake in millions from new print and digital subscriptions during the next quarter. It will be an ongoing effort – requiring much blood, sweat, and probably a few tears to make it happen.

It’s the same with ad sales. We are seeing big changes in the way publishers create and sell their advertising solutions, with content marketing playing an increasingly important role for brands. Native ad spend is expected to reach $21 billion in 2018 and has opened the door to more advertising opportunities while providing added exposure for your advertisers.

Events also require a large, up-front investment. From speakers to sponsors, putting together a successful and (most importantly) profitable event is not easy. To increase your margin every year, you must understand the changing factors that bring your audiences to town, and why they continue to attend.

So let’s say that your subscriptions, ad sales and events are still packing them in. What else can you do?

The answer is quite simple - content licensing.

Some publishers are squeamish about content licensing due to the uncertainty of your breakeven point. We agree that this is an important consideration. But what if your breakeven calculation was easy? When you contract this effort to a trusted third party, the revenue possibilities are substantial and you are profitable on the first sale.

To be successful at content licensing, your brand has to already have earned trust with your audience. And guess what? This has already been accomplished through the energy and resources you spent to increase subscriptions, ad sales and sponsor popular events – these efforts create a valuable, trusted brand. Don’t discount what it took to get to where you are, as it is an ongoing investment that will continue to pay dividends year after year.

If you decided to launch a content licensing effort using existing staff or new hires, it would likely take months to roll out. And as mentioned earlier, your breakeven point would be a mystery. But because you have invested in the other three channels, the foundation has already been laid. You are leaving money on the table if you don’t put such a strategy into motion.

When deciding if content licensing is the best next step for your brand, simply look at the current revenue generated from subscriptions, ad sales and events. If you see continued growth, your brand has value. This means content licensing will provide a brand new revenue stream, while simultaneously boosting brand equity.

That’s your next step.

 

Wright's Media

  • 2407 Timberloch Place, Suite B
  • Phone: 877.652.5295
  • E-Mail: bkolb@wrightsmedia.com
  • Website: http://www.wrightsmedia.com/
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