Publishers Discuss Latest Trends at Medientage Munchen
Publishers are currently making the transition from physical publications to a more digital service.
This has thrown up many challenges for companies in the industry, including how to monetise the content itself.
Some have decided to give their content away for free, relying solely on advertisements, but the days of this method seem to be coming to an end as firms begin to introduce paywalls on their websites.
Medientage Munchen took place last week in Germany and many industry players within the publishing and media sector attended to talk about the various trends occurring in the marketplace.
Some 50 German publishers have now set up a paywall for their content, placing it behind a barrier that in most cases closes shut after a certain amount of articles are read. This metered access method allows consumers to see what they are paying for before they subscribe.
Many newspaper companies at Medientage Munchen are optimistic with their content’s ability to generate money and there are several companies experimenting with the various business models available to them.
Some of the publishers who attended have made a conscious choice to transmit their print subscription to digital business models, which is being done to counteract the decline in physical-based media.
Opinions on metered access and freemium models were divided at the event. For example, while Springer’s Die Welt newspaper has decided to use the internet for a successful metered platform, bild.de relies on a freemium model. The latter aims to make the most of free content and continue to make money with advertising.
One thing many agreed on was the quality of the content behind paywalls, which needs to be of the highest standard. Everyone agreed that paywalls only make sense if the customer values the content and cannot get it anywhere else on the web for free. Exclusivity has become a prerequisite for the success of paid content.
Medientage Munchen took place between October 16th and 18th and certainly offered plenty of food for thought.