BuzzFeed Video, 360-Degree Storytelling, Adobe’s Acquisition of Livefyre, Study on Subscription Rate Discounts, TFP’s Infographic Pick of the Week
Welcome to Technology for Publishing’s roundup of news and tips for media industry pros! This week, we’re sharing stories about BuzzFeed’s NewFronts presentation focused on its growing video empire, other NewFronts pitches from publishers betting big on virtual reality, Adobe’s purchase of audience engagement and commenting tool maker Livefyre, how deep magazine subscription discounts are affecting newsstand sales, and more.
- As BuzzFeed detailed at its NewFronts presentation on Monday, the company’s popular Tasty food channel is providing the model for its fast-growing video business, which now includes channels targeting crafters, mothers, kids, and others. Boasting more than 53 million likes since launching just a year ago, Tasty is now looking to bring on advertisers, Digiday reported, noting “its made-for-advertiser content has emerged as one of the bigger and easier avenues for growth.” With a multi-platform, multi-channel distribution strategy, BuzzFeed is expanding its ability to effectively cross-promote content, which is a very attractive feature for advertisers looking to reach ever-wider audiences.
- In other NewFronts news, Adweek reported publishers this year are focused on “immersive, visual storytelling” using virtual reality technology like Oculus Rift and Google Cardboard—especially given Facebook’s and YouTube’s push to build 360-degree videos into their platforms. The New York Times, AOL, and PopSugar are among those “betting brands are ready now to get on board,” it said, with all showcasing VR and 360-degree storytelling in their pitches to media buyers. Refinery29 also revealed VR plans during its presentation, announcing the launch of VR29 Studios. The new unit will produce at least one VR or 360-degree piece of content every week for the remainder of the year, the report said.
- Elsewhere, Adobe announced it’s buying Livefyre, the provider of a popular commenting system and other audience engagement tools used by big names like CNN, The Coca-Cola Co., and Major League Baseball. According to TechCrunch, Adobe plans to integrate LiveFyre with Adobe Enterprise Management and Adobe Marketing Cloud, with the goal being to “make user-generated content available across all eight digital marketing solutions.” Adobe’s statement added: “With this acquisition our customers will be able to unify the best social media content with branded experiences created in Adobe Creative Cloud and community-driven content in Adobe Behance and Adobe Stock.”
- And MagNet released a new two-year study showing deep discounts on magazine subscription rates—now sometimes more than 70%—are having a significant impact on newsstand sales. For example, it found newsstand sales declined between 3% and 5% when subscriptions were discounted 50% off the cover, while discounts between 50% and 70% (offered by the majority of monthly titles) saw declines around 11%. Those titles cutting subscription rates by more than 70% experienced an average 16% drop in newsstand sales. While noting overall findings stand to reason—why buy a magazine on the newsstand when you can get it substantially cheaper through a subscription?—the report said the study raises the question: Why are publications with subscription discount rates as high as 90% still on newsstands in the first place?
On the Technology for Publishing Blog
- TFP’s Infographic Pick of the Week: Courtesy of blogger Jane Friedman, we bring you an updated resource on the many paths to getting a book published, highlighting both traditional and alternative approaches.
- Monica Murphy’s most recent AEM Mobile Tip shows you how to create collections, add content to them, designate home collections, and more.
- ICYMI: In her latest article, TFP CEO Margot Knorr Mancini explores content platforms, offering recent coverage and resources to get you caught up on the fast growing trend.
Image: Digiday
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Posted by: Monica Sambataro
