For publishers who rely on advertising dollars, COVID-19 has thrown a wrench in their revenue, according to journalism professor Damian Radcliffe. While one revenue stream is plummeting, new opportunities are abound with more people at home and online, and publishers strategizing on how to capitalize off of this change is the latest trend.
“At the same time as advertising has been falling through the floor, numerous outlets have reported record traffic during the pandemic, with audiences hungry for news and updates,” Radcliffe reports. And those spikes have resulted in subscriptions increases.
He told “What’s New in Publishing,” “The pandemic has arguably created an environment where consumers may be more receptive to subscribing, and where the reason for doing so can be more readily understood. It’s an opportunity that publishers need to capitalize on.”
Here is his insight on seven ways COVID-19 has impacted subscription strategies.