New evidence that subscription website models are valuable
We’ve discussed it before. Online consumers are willing to pay for content online, especially if it’s premium content.
The days of assuming everything online should be free may not be fully over, but the mindset has changed a bit as 65% of US Internet users have paid for some form of online content.
This new data comes from a new study from the Pew Internet & Life Project.
The findings include:
-33% of Internet users reported purchasing digital music online
-21% of Internet users reported purchasing apps for cell phones or tablet devices
-18% of Internet users reported purchasing digital newspapers, magazines, journal articles or reports
-11% of Internet users reported purchasing subscriptions to members-only premium content from websites that have other free material on it
Find out the CMS features that publishers require to manage an online publishing business. Download a FREE copy of 7 Ways Haven Wordpress Goes Beyond Wordpress, and discover the features all publishers should have access to for a bigger audience, greater revenue, and higher profits.
The report found that the majority of users (23%)are paying for a subscription service, opposed to individual downloads or streaming access (16% and 8% respectively).
Finally, the study found that those who are paying for content spend about $10 on average per month.
Subscription website business models may really be the Holy Grail of the online publishing industry.
In 2011, online publishers should focus on continuing to create great premium content while considering some of these statistics above for selling the content.
For more on these findings, take a look at the study from the Pew Internet & Life Project.