Money Saving Expert deploys gen AI | Winning subscription strategies revealed
And The News Movement's Kamal Ahmed on their big move into audio
Good morning and welcome to your weekly Future of Media newsletter from Press Gazette on Thursday, 21 September, in association with Norkon, the company behind the live-blogging platform Live Center. Their e-book on delivering live sporting news and best practices is available to download.
Discount too much and your churn rates go through the roof.
Too little and you fail to acquire new subscribers.
Today Press Gazette reveals exclusive research profiling how 60 leading European news publishers lure in fresh online subscribers - which sheds new light on where that Goldilocks zone is for news subscription offers.
We also catch-up with editor-in-chief of Gen Z-focused social-first publisher The News Movement Kamal Ahmed. He now has a team of 60 and is moving into audio with the help of "prince of podcasts" Dino Sofos.
TNM’s mix of marketing services, ad revenue and events has convinced investors to promise an additional $10m in funding, CEO Will Lewis has separately revealed, with hopes the whole thing will wash its face financially by the end of 2024.
And editor-in-chief of Money Saving Expert Marcus Herbert has spoken to us about why, after 20 years of success doing basically the same thing, the title is tweaking its winning editorial formula with the help of generative AI.
It is using the technology to help readers better negotiate the site's vast archive to find the information they need (but it also warns them it may get things wrong).
MSE has never collected reader data beyond their email address so that it can send out its wildy-popular weekly newsletter. It makes all its cash via clicks through to the products it recommends.
But it is now looking into a more "signed in proposition" via development of its app.
New from Press Gazette:
Deepy, briefly but not too cheaply: Tactics used by 60 online publishers to bring in new subscribers
“A few years ago a lot of European publishers were offering free trials but only a few of them still do.”
The News Movement partners with Dino Sofos for move into audio
“We’re about creating original journalism that makes a difference and helps understanding, and the podcast will be able to build on that.”
Trust-focused Money Saving Expert builds AI chatbot but warns users it ‘may cock up’
“The way we’re looking at it is if an intelligent person had read every single article on MSE and could remember it, what answer would it give to your question? And it’s really interesting.”
Must-reads from Press Gazette you might have missed:
All our reports from our Future of Media Technology conference
Sky’s Stuart Ramsay on why he undertook his most dangerous mission yet
Radio Times at 100: Magazine still ‘highly profitable’ fuelled by subscriptions
Sunday Times journalist warns over ‘very upsetting’ Russell Brand follow-up coverage
From editor to CEO: Christian Broughton shares Independent’s global growth plan
John Ryley calls time on ‘supine’ royal reporting, Westminster gossip and GB News ads boycott
Promoted report
Sports seasons provide journalists and media companies with a golden opportunity to engage readers in new ways. Whether it's rugby, cricket, basketball or any type of races, covering live sports is a cornerstone of high-volume, popular journalism.
Sports fans – ranging from curious dabblers to die-hard devotees – consume live sports coverage across channels with kind of a zealous devotion.
Tapping into their passion can drive traffic, subscriptions and other monetization possibilities in the highly competitive world of live sports coverage.
This e-book explores:
The sports media landscape and getting the upper hand
How live blogging can play a key role in helping media companies score on their growth goals
Live-blogging benefits.
Our latest podcast
Is the future looking brighter for Future?
CEO of Future plc Jon Steinberg explains why he believes his company still has the right ingredients for success (whatever the stock market may currently seem to think).
He also talks about how he has tackled taking over from a highly successful predecessor, what he thinks about AI in publishing and how the company is just starting to generate revenue from digital subscriptions.
