Next Issue Media, a digital magazine newsstand backed by major publishers, has received $50 million in funding for marketing and platform development, reports Folio.
Next Issue Media currently serves digital magazine content like Spotify serves musical content. The subscription includes on-demand, all-you-can consume pricing.
According to the article from Folio, “A $9.95 monthly subscription provides access to 145 titles, mostly from the six publishers that back Next Issue—Time Inc., Condé Nast, Hearst, Meredith, News Corp. and Rogers Communications. A premium $14.99 monthly subscription adds in unlimited access to weekly magazines.“
The growth of Next Issue Media’s digital magazine catalog has been slow since it began recruiting titles in 2012. According to the article, this slow growth was intentional, allowing to adequately fill content gaps and get magazines with mass appeal.
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