Hearst Projects Over A Million Digital Subscribers For 2012
After an apparently successful push to harness the moneymaking power of digital and mobile-friendly content, David Carey, president of magazine publisher Hearst Corporation, expects the company will have more than 1 million paying digital subscribers by the end of 2012.
At Reuters’ Global Media Summit last week Carey announced that nearly 400,000 smart phone and tablet owners have subscribed to the digital editions of popular magazines such as Cosmopolitan, Esquire and Good Housekeeping, with subscriptions growing at in the range of 10 to 15% per month.
This is great news for the print-world, which has been struggling to compete with an almost infinite amount of free content online. Loosely adapting the model laid down by print tycoon The Wall Street Journal (which was one of the first newspapers to charge for digital subscriptions), Carey and Hearst Corp is paving the way and potentially reviving what was previously ruled out as an obsolete industry.