5 innovated business models for the publishing industry
In the last decade, we have seen how digital publishing has revolutionized the industry. Beyond the transformation from a printed catalog to an eBook format, nowadays, we see new publishers’ business models and and innovative projects that use technology to offer excited and customized experiences to the reader.
We present you the five innovated business models that you can also take advantage of:
Every time more internet users have an approach to their favorite content through subscriptions. Big news portals like The New Yorker o Reforma in Mexico offer monthly plans. Publishing houses can also provide subscriptions for all its catalog and taking advantage of this business opportunity.
One of the most important tendencies about content is customization. Lost my name is a publisher project that started in 2014 and had sold more than 3 million copies of its children’s stories. Each copy is made by order and had the initial of each reader. This is, without a doubt, a unique experience for parents and children.
Today, the reading moment has to be a one-of-a-kind moment, connecting with readers through technology like audio, video, geolocation, etc.
Users are so powerful. But when it’s about to boost the content that they love, this power is even more significant. Swoon Readers is an active readers community and also a publishing house. Here, reading lovers can vote, comment, and share their handwritten. Those that take more votes are published with an “Approved by readers” insignia.
Users are having more and more control of what read, consume and recommend. They want to have different options and the possibility of choosing between them. For example, they can access a whole catalog, take a subscription plan, or access just one magazine or newspaper article. There are platforms like Relatos Revueltos, a web that let every reader create their own anthology by selecting stories from a vast authors’ database.
If you want to take advantage of the freemium business model, you must offer free content from your platform. This publication’s importance is that it has to work as an entrance to the rest of your store. To make this happen, you can create discount coupons.
As you can see, there are a lot of new business models that you can choose thanks to the digital publication of your catalog. Look up the options that you can add to your current offer to have an approach to your new readers and take advantage of electronic publications.