As newspapers refocus their business models to encompass multiple platforms, and look for revenue alternatives to advertising, there is a lot of interest in new technologies at the Newspaper Association of America mediaXchange this week in Orlando, Florida. More than 650 industry executives have gathered at the event to share audience and revenue development strategies that generate growth in print and online.
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Among the new technologies generating interest is LicenseStream, ImageSpan's automated licensing, publishing and royalty processing platform. Executives from newspapers and other media organizations are recognizing that LicenseStream can monetize their digital content in a way that helps them fully realize its value, especially as consumers look for ever-increasing access to readily available and highly diversified content.
Marquee publishers and media companies, including the Chicago Tribune and the McEvoy Group – a publisher whose brand media properties include SPIN magazine
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ImageSpan's Candice Murray demonstrates how LicenseStream works at NAA mediaXchange
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– already have begun working with ImageSpan’s LicenseStream to develop new markets, direct customer relationships and drive incremental revenues via the joint solution.
Hype around iPAD (and other eReaders)
There also is plenty of buzz at mediaXchange about emerging hardware distribution platforms that media companies are adopting to help drive revenues. In particular, there’s a lot of hype focused on the iPAD as companies test it and other e-readers (including the Kindle and similar tablets) as well as devices such as the Samsung Go netbook.
As a result, everyone’s favorite parlor game at mediaXchange is speculating about the magic price point that will bridge the gap between what current subscription models charge and the new, lower-cost subscription models tied to such tablets and similar devices. For example, The New York Times annual print subscription fee is about $785. By contrast, The New York Times’ monthly subscription on the Kindle is now $19.99 – up from the initial teaser offer of $13.99. In addition, publishers including The New York Times are testing bundle offers where the price of a device is discounted in exchange for a subscriber commitment of a year or two.
Platform Strategy vs. Device Strategy
Based on comments we’ve heard at the show, publishers are still trying to understand whether to pursue a platform strategy vs. a device strategy. Ideally, newspapers should be able to publish content once for use across all devices in a way that is optimal for the newspaper's bottom line as well as for the consumer. However, each device sports its own key features and capabilities, and pursuing an individual product strategy for each device will not scale up to cost-effectively meet or take advantage of mass market demand for content.
Why Does This Matter to LicenseStream Subscribers?
Demand for content will continue to grow exponentially as newspapers, magazines and other media companies form business relationships with companies that are creating new conduits to the consumer – whether it’s Apple’s iPAD, Amazon’s Kindle or Barnes & Noble’s nook. That means the ability for media outlets such as the Chicago Tribune or SPIN magazine to search for and easily license digital content is more important than ever. Just as important is the need of the photographer or videographer to be fairly compensated for the original content he or she creates.
ImageSpan and its partners already provide the tools to make your digital content license-ready, to publish it to the Web and to major search engines in a way that protects it, and to help you monitor, manage and monetize unauthorized usage of it. In addition, ImageSpan and its partners make it easier for potential purchasers of your content – including major newspapers, magazines and book publishers – to drive the revenues they need during this time of great change.
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