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“Preparing itself for a radically different future”: How publishers are emerging from the Covid-19 crisis

What's New in Publishing 26 Jun 2020 08:11

“The impact of Covid-19 on publishing has brought with it an existential crisis for many. It has also brought innovation and resilience.”

FIPP’s first Covid-19 report, ‘Publishing during a pandemic: mapping a path through the coronavirus crisis,’ looked into how publishers around the world were initially affected by, and responded to the COVID-19 crisis. 

It has now published an update subtitled ‘Emerging from the Covid-19 crisis.’ This version “looks beyond the immediate doom and gloom to how the industry stood up to the challenge and is preparing itself for a radically different future.”  

The way industries respond to a crisis determines how they will respond to a disaster in the future. The impact of Covid-19 on publishing has brought with it an existential crisis for many. It has also brought innovation and resilience.

Publishing during a pandemic: Emerging from the Covid-19 crisis

Many publishers have been affected by declining ad revenues and print sales. However, these trends had been present before the crisis, and appear to have been accelerated by it.

“A clear understanding of the reader’s need”

The journey to convert users from visiting a website to becoming an active and continued subscriber is most critical, according to York Walterscheid, MD, CeleraOne. He told FIPP President and CEO, James Hewes that publishers need to build segments and target readers with these (content) segments as individually as possible to improve conversion and retention. And all of this needs to happen in real time. “It’s not about building a paywall and asking for payment. 

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Nick SargentFIPPBeth TomkiwTrusted Media BrandsFIPP
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