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Are new subscriptions holding up in covid?


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Jonathan R

Covid has been tough on newsrooms with job cuts at Quartz and also cuts at The Atlantic as mentioned in previous posts. 

There seems to be one small bright spot. Various publications have said that subscriptions are up as people are prepared to pay for accurate and reliable news. Some have called it the "corona bump". But one big question hanging over the industry was whether these new subscribers would stick around. The answer, for the moment, seems to be yes. Digiday reports that subscriber retention is up at publications including the New York Times, Bloomberg and The Guardian. It said that:

Quote

For readers who subscribed in March, the first-month churn for monthly auto-renewing subscriptions dropped by 17% compared with the average churn in January and February, according to data across subscription platform Piano’s 300 global media companies. This is driven by Europe, where the first-month churn was down 34% overall.

Let's hope this trend continues as it seems that most publications are going to have to turn to subscriptions to sustain themselves rather than rely on advertising revenue. 

How is your newsroom/publication adjusting to these challenges?

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