Entertainment remains one of the most resilient categories in household spending, even as many Americans look for ways to cut back. From concerts and travel to dining out and streaming subscriptions, people continue to seek out experiences that bring joy, escape, and connection.
According to the U.S. Bureau of Economic Analysis, consumer spending on recreation services, including streaming, live events, and travel, grew by over 7% year-over-year in Q1 2025. This growth outpaced the overall increase in personal consumption, signaling strong demand for experience-based activities.
But strength in entertainment spending doesn’t mean consumers aren’t anxious. Inflation, recession fears, and rising prices are still top of mind. So, where do consumers draw the line, and what entertainment is worth the cost when budgets are tight?
New findings from Hub Entertainment Research show a notable increase in anxiety among consumers since late 2024, particularly about inflation and the risk of recession. This economic unease is prompting many viewers to reassess their spending on entertainment. Yet, unlike concerts, theme parks, and other one-time events, TV and streaming subscriptions appear relatively resistant to budget cuts and cancellations. Streaming’s staying power comes down to perceived value. Aside from vacations, TV and movie streaming rank above all other entertainment alternatives.
Price sensitivity for streaming subscriptions
Nearly nine in 10 viewers now say subscription prices are increasing more frequently. This sensitivity is prompting some to rethink their spending and consider switching to lower-cost, ad-supported tiers. More than half are willing to spend more on streaming if it allows them to reduce other discretionary entertainment costs.
Ad-supported models are generally becoming more appealing. The share of viewers who say they “can’t tolerate ads” continues to decline, dropping to just 11%, from 17% four years ago. Even among this ad-intolerant group, more are now saying they would prefer to save $4–5 per month by accepting ads, rather than pay for an ad-free experience.
Service aggregators play a key role in keeping subscribers engaged. Platforms like Amazon Prime Video, Roku, YouTube, and Apple TV help users manage their growing number of subscriptions. Half of all viewers now use an aggregator, and among 18- to 34-year-olds, that number jumps to 60%. Those who use aggregators are more likely to hold six or more subscriptions, while those without typically have just three or fewer.
Insert aggregator subscriptions chart
YouTube’s multiple products
YouTube is also an increasingly vital part of the media and entertainment ecosystem. Although many users still watch YouTube content on mobile devices, half of them now stream it regularly on television screens. YouTube’s suite of offerings, including its free, ad-supported content, outperforms both subscription and other free services in perceived value.
Despite its strong position, streaming is not immune to viewer pushback. While consumers rank it as one of the last things they’d cut, that sentiment hinges on continued value delivery. If prices rise too often or too steeply, even loyal subscribers may begin to reconsider.
Mark Loughney, Senior Consultant at Hub, notes that while consumers remain anxious about the economy, video subscriptions are among the last things they’re willing to cut. However, that’s only if streaming services don’t push prices too far.
In short, the data highlight a clear takeaway for both consumers and the industry: streaming remains a cornerstone of American entertainment spending. Its blend of variety, convenience, and value continues to resonate even in a tighter economic climate. Providers that keep prices in check, lean into flexible ad-supported tiers, and make discovery effortless stand to deepen that loyalty. With people’s concerns about the economy continuing to rise, the winners will be services that repeatedly prove one simple equation to viewers: more content, less friction, best value.
Live events can be a vital pillar of a media business’ revenue strategy. They provide unparalleled sponsorship opportunities, direct revenue through ticket sales, and the content can often be repackaged and repurposed elsewhere after the fact. As an example, Atlantic Media’s events wing now accounts for over 20% of the business’ overall revenue.
However live events are often an expression of the “soft power” of a media brand. They act as a statement of the company’s influence, whether through big name sponsors and celebrities that attend, or by effectively setting the agenda for the industry through insight and expertise. They are a demonstration of the media company’s relevance for both its audience and potential commercial partners, whether B2C or B2B.
It is no surprise, then, that events remain a priority for many media businesses. However, while they are a source of revenue unto themselves, they are also being employed to support other revenue streams, including subscriptions.
Events and subscription marketing
Live events – especially the flagship conferences and exhibitions held by consumer titles – are exclusive by nature. While their content is often repackaged in article or video form, there is a cachet in attending them in-person and rubbing shoulders with celebrities and peers.
That exclusive nature is therefore being used by savvy subscription- or membership-focused media businesses. Access to those events is desirable, and is being used in subscription marketing material throughout the funnel. The Guardian, for example, offers its members discounted tickets to events at its owned-and-operated live events space in London, a physical benefit in addition to its central message of supporting its journalism.
However, events can support subscription growth as well. Anna Bross, SVP Communications for The Atlantic explains that, “Access to our events is a selling point from the first welcome and onboarding for our subscribers. We also market subscriptions in tandem with our events: ‘become a subscriber to unlock the full breadth of our journalism’.”
“The Atlantic has focused on exclusive events benefits for subscribers, particularly for our flagship event The Atlantic Festival: things like early access to ticket sales; subscriber-only event moments; and discounts. We have also produced subscriber-only virtual events.”
Brad Greenawalt, Vice President of Subscriptions at Hearst Magazines, notes that the appeal of live events can be used throughout the funnel when it comes to converting readers. “We view live events as an opportunity across the funnel. It can be a great audience expansion opportunity, getting new audiences closer to the brand and experience, as well as a lower funnel strategy for more niche premium subscription events.
“Live events are a key selling point for our premium memberships and help drive subscriber conversion and retention.” He cites the UK’s ELLE Collective’s Beauty Masterclasses and GoodHousekeeping’s VIP membership Book Club conversations with authors as some of the events that work especially well for its subscription-oriented publications.
In line with the ongoing trend towards making access to journalists a selling point for subscriptions, live events are also being used and marketed as a way to speak to those journalists in-person. Every organization spoken to for this article mentioned that live events are being used to deepen engagement by way of connecting subscribers with the journalists whose content they consume.
Dow Jones’ VP, Leadership and Event Marketing Laura Verklin said that “Audiences used to be dependent on news organizations for access to information. Now that information is somewhat of a commodity but reliability is the differentiator. Our events allow us to foster a deep sense of trust and transparency with our audience by allowing them to engage and interact directly with reporters and editors while they’re on stage with global decision makers. It underscores the Journal’s editorial integrity and access to global leaders shaping our future.”
Superfans and creating touchpoints
The rule of thumb is that it is far easier (and, crucially, cheaper) to prevent a subscriber from churning than it is to convert a new reader to a subscriber. As a result, events are being considered as a major means of developing the relationship between publication and their readers to a degree where they will pay to support its mission.
More than half (63%) of audience members who complete post-event surveys for the Guardian, for example, say they are more likely to financially support the Guardian after attending one of its events.
A Guardian spokesperson explained that is due in part to using the live events to showcase the Guardian’s unique selling points during the event, which in turn supports those same messages in its membership marketing materials: “Our audiences appreciate the opportunity to ask their questions to our journalists and guests to feel closer to our journalism. It is also a great opportunity to showcase the human element of Guardian journalism in contrast to the rise of AI-generated content.”
Greenawalt also cites post-event feedback as being a significant source of audience information. The team uses the insights provided to tinker with and inform future events and other marketing strategies.
Bross explains that “Hyper-engaged subscribers are more likely to attend events. But those who attend events, whether hyper-engaged or not, are less likely to churn than those who do not attend events. Ultimately, we utilize our experiences to strengthen the perceived value of a subscription, deepen brand affinity with The Atlantic and give our subscribers unique access to our journalists and journalism.”
Creating events for new subscribers
However, that isn’t to say that events are aimed at or even solely marketed towards “superfans.” While these highly-engaged audience members are often the most lucrative for consumer brands, they are also touchpoints for new potential members. Publications are creating events with those new members in mind. The Guardian spokesperson explains that “It depends on the event. It is true that many of our supporters who frequently read the Guardian attend our events. Different speakers and topics also attract different audiences.”
That considered, curated approach is as important for information-based publications, which are predicated on appealing to very specific audiences. Verklin explains that “Exclusive access to our live events is a key differentiator when we market a subscription or membership to one of our C-Suite communities. These moments of in-person connection help deepen trust in the brand and create tangible value that differentiates a premium subscription from more transactional options.”
So as with trial memberships or limited access to some content on a timed basis, events are being created as a ‘lure’ for potential subscribers. Greenawalt says: “Although events draw in highly engaged members, we’ve also found success using it for our new audiences as well. Our newest membership, Veranda Gold Design Society, offered members the opportunity to go on an exclusive tour at the Kips Bay Decorator Show House in Palm Beach with Editor-in-Chief Steele Marcoux earlier this year.“
Event strategy and subscription marketing strategies, then, are becoming more intertwined. Each is being used to support the other, with discounted tickets or exclusive access being used to demonstrate the value of a subscription throughout the funnel.
The subscription media landscape continues to evolve, reshaping how consumers engage with digital content and how businesses strategize to maintain their market share. As digital media matures and price sensitivity increases, the market has responded with innovative pricing models and premium offerings.
The DCN Digital Media Subscription Tracking Report – Q1 2025 provides insights into these changes, offering year-over-year trends and brand-specific data exclusive to DCN members.
Here are key highlights from the latest report:
Steady market growth
Total digital subscriptions grew to an estimated 923 million in Q1 2025, up from 917 million in Q1 2024, signaling ongoing consumer demand across video, audio, and news platforms.
SVOD with ads gains share
Ad-supported streaming continues its upward trajectory. SVOD with ads increased its share to 28% of total digital subscriptions (up from 21% last year), while ad-free SVOD declined in share to 36% (down from 41%), reflecting a clear shift toward cost-conscious viewing options.
SVOD bundling expands its share
Consumer preference for bundled services continues to climb: 58% of SVOD subscribers now bundle services, up from 52% in Q1 2024. The average number of services per bundle increased significantly from 1.3 to 2.8, underscoring the growing share of bundled solutions in the marketplace.
News subscription shares shift
Digital newspaper subscriptions declined year over year to a 19% share of U.S. households (down from 22%), with 23% accessed through bundles.
Magazine and audio subscription share holds steady
Magazine subscriptions maintained a 29% share, with 21% of those also bundled. Digital audio subscriptions held steady at a 57% share of U.S. households, with 16% of those delivered via bundled offerings.
As the digital media ecosystem shifts toward bundled offerings and more flexible pricing models, staying aligned with these trends is vital. The Q1 2025 report offers deep insights to help DCN members navigate an increasingly dynamic market.
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The hype cycle is over for Podcasting. Now that reality has set in, it is exciting to see examples of publishers pushing the podcasting envelope – experimenting to drive innovation in the maturing market. Whether it’s using AI to expand to new audiences, or smart show bundling, there’s a lot of inspiration for those with their own podcasts or looking to launch.
Here are some impressive experiments and innovations in the podcast space:
AI translations
UK news publisher The Telegraph has been producing a podcast called Ukraine: The Latest daily since the start of the war. It has been downloaded over 100 million times since 2022, with episodes exploring military strategy, history, weaponry, economics, and more.
In February, to coincide with the third anniversary of the war in Ukraine, The Telegraph launched translated versions of the podcast in Ukrainian and Russian. This was made possible using an AI-powered voice cloning and translation model. This creates a “digital likeness” of the presenters, closely mimicking the rhythm and nuance of their voices.
“To be clear, this is AI helping to present our journalism, not produce it,” said Associate Editor and presenter Dominic Nicholls in an introductory video demonstrating the technology. The translations help reach those with restricted access to news on the war, as well as expats around the world.
The AI model was adapted by The Telegraph team in-house, before being refined by a native Ukrainian speaker fluent in Russian and English. The Telegraph emphasises that all episodes will be checked to ensure translation accuracy, as well as fine-tune speed and pacing.
Although there have been experiments with AI hosts and translation, this is the first example of a media company deploying it on this scale. For a daily podcast, especially one where the information need is so critical, this is a worthwhile investment that will help it reach the people it needs to.
High quality AI translations like this will be beyond the budgets of many publishers. But as the translational tools improve and become more accessible, using AI translation to reach new audiences is worth considering. Editorial oversight, however, is vital to maintain trust and quality.
One that stood out was the DMG Media’s launch of The Crime Desk. The publisher had seen success with true crime podcasts like The Trial of Lucy Letby. Now, it has brought all podcasts under ‘The Trial’ brand into one subscription bundle.
The Crime Desk offers subscribers ad-free bonus episodes on global trial cases. It also includes access to the archive of more than 200 episodes covering everything from the Holly Willoughby kidnap plot to the Diddy trial. Subscribers will also get new series released in their entirety. However, free listeners will only be able to access one episode a week. The launch offer is £1.99 a month, or £19.99 annually.
“There will always be a free trial to air – we’ve got to have a shop window. It’s arguably a public service as well,” the Daily Mail’s head of podcasts Jamie East told Press Gazette. A soft launch phase “had seen subscriptions well into the thousands, and at a similar conversion rate to the podcast industry standard of 5%.”
Building a paid bundle around groups of podcast topics is viable for publishers that produce a wide range of podcasts or with strengths in specific subject areas. However, East noted that although they’ve had success elsewhere, that doesn’t necessarily mean a paywall is viable. “You can only really launch a subscription model around a hit. There’s no point otherwise,” he told Press Gazette. “It needs to be pretty bedded in before you can do it, or achieve such huge scale that it’s a no-brainer. We’ve not quite reached that with any of the other verticals.”
Reusing popular print content
One unusual podcast launched last year is Your History, from The Times. The newspaper has published daily obituaries for over a century, many of famous people. The team realized that there was an opportunity to highlight some of the Times’ best writing, which happens here, as well as capitalize on audience curiosity in historical figures.
The twice-weekly podcast brings out”‘remarkable tales of lives well lived,” from musicians to politicians, scientists, and sporting legends across episodes averaging 10-15 minutes. Anna Temkin, deputy obituaries editor, presents the podcast.
This is an excellent example of taking existing content and transforming it into another medium. The obituaries pages of newspapers contain a wealth of fascinating life stories, especially when someone well-known dies. By simply reading out the obituary – a low tech and low cost solution – The Times makes this content accessible and relevant to a new audience who aren’t necessarily newspaper subscribers.
Podcasting has room for innovation
Reader revenue is an important strand for each of these publications. The Telegraph and The Times both have hard paywalls, and use podcasts as a top-of-funnel strategy to introduce listeners to their journalism. In these cases, applying strategies that help widen listenership through translation or opening up paywalled content is key.
Although the Daily Mail has some paywalled content, the majority is accessible to read for free. This allows the podcasts to build up a large audience.In this case, The Daily Mail has created a paid bundle around popular shows to monetize a smaller but more dedicated fan base.
The extent to which other publishers can use these tactics will depend on where podcasts sit strategically. If they’re a “shop window” to showcase journalism, it is worth exploring options to leverage podcasts to expand audiences. However, podcasts also have great power as a retention tool superserving a publisher’s most loyal readers. With continued experimentation and innovation, podcasts offer the potential to grow audiences and support, or even build, direct revenue. That’s not hype; that’s just smart strategy.
The 2025 DCN Next Summit kicked off in Miami April 22 with an energizing atmosphere as senior media executives from DCN’s member companies came together to discuss the biggest issues and opportunities impacting the future of media.
In his welcome, DCN CEO Jason Kint highlighted the challenging environment the media finds itself in. “Let’s be honest, the last 12 months have been volatile,” Kint said, “And the volatility isn’t just economic, it’s institutional. The forces testing our economy are also now testing our democratic norms, including a free and plural press itself. [We face] a direct challenge to the independence of the press and the principle that journalists, not governments, get to determine the language of truth.”
This, Kint said, is the new normal: accelerated pressure, relentless power grabs and heightened scrutiny all at once. “It’s messy, it’s uncomfortable, and it’s redefining the rules that we all play by.”
In the midst of this, Kint highlighted premium content still matters but what defines it is changing. “Growth is harder, but it is possible, especially as you strengthen your direct relationships with your audience and customers. Trust… is everything. It’s foundational and it must be defended. And, in times of vulnerability is when you build on it.”
While the topics of discussion both on stage and off were wide-ranging, three significant themes emerged: the importance and evolution of trust, the value of direct audience relationships, and new influencer dynamics impacting media brands.
Trust in a fragmented world
In an era where audience attention is fragmented across numerous platforms, trust is the core value exchange between a media brand and its audience. Katherine Maher, president and CEO of NPR, emphasized the importance of maintaining editorial independence and impartiality as essential components of trust.
Katherine Maher, president and CEO of NPR
She said, “Our editorial independence is paramount. People listen to NPR and they care about public media because they trust it and they know that it is independent. To my mind, if we cannot maintain that editorial integrity, we cannot serve our audiences the way we need to be served.”
This foundational trust faces new challenges. New research from DCN and Magid on Gen Z’s video consumption reveals a significant difference in trust levels between individual creators and brands, with individual creators generally being perceived as more trustworthy. The study, called “Decoding Video Content Engagement,” talked to 1,000 young people aged 13-40, to understand how they saw media brands. The results (available to DCN members) suggests that Gen Z’s understanding of what is trustworthy is evolving based on where they spend their time and energy.
“When you talk to Gen Z, it’s the individual that’s most valued. It’s the influencers, it’s the streamers,” Andrew Hare, SVP, head of quantitative research at Frank N. Magid Associates explained to attendees. Media companies face a significant challenge in building trust with Gen Z and Gen Y, and being seen as trustworthy, authentic and interesting, compared to individual creators, who are overwhelmingly trusted more by these generations.
Hare mentioned an opportunity for digital media companies to “collaborate and co-create with creators themselves to maybe even add some trust back to the brands.” He noted that digital media companies must focus on humanizing their brands, fostering direct relationships with audiences, and finding ways to be real and relatable while upholding their journalistic standards.
The evolving role of creators
Discussions at the summit frequently touched upon the evolving role of journalists in today’s media landscape and the rise of individual creators/influencers as a force in news. According to a November 2024 study by the Pew Research Center, 21% of U.S. adults now regularly get news from influencers. This figure rises to 37% among those under 30—an age group that is increasingly difficult for traditional outlets to reach.
Tiffany Sam Chow, SVP, strategy and business development at NBCU News
Tiffany Sam Chow, SVP, strategy and business development at NBCU News Group, pointed out that news anchors are becoming personalities on platforms like TikTok, which allows them to build individual connections with audiences. This shift changes the role of anchors from authoritative figures to relatable personalities, she explained.
Chow cites the example of Savannah Sellers on TikTok. “She does these behind the scenes where people can understand her as a person,” Chow explained. “People start following her on social as a person and then start following her on social as a news anchor.” As people engage with the on-air talent on a personal level, they begin following them as journalists, and in turn, engage with the NBC News and Today Show handles, Chow said.
Sam Felix, SVP, Strategic Partnerships & Business Development, at CNN echoed this shift. She noted CNN has also been thinking about how to drive that relationship between their on-air talent and audiences. “Part of our superpower is our ability to produce video at scale and this amazing talent. We have the right ingredients to engage with this audience. But we have to figure out (how) to pull back the curtain, get them sort of like closer, one-on-one, with this audience in a way that they seek us.”
In addition to their shows, CNN personalities produce multiple vertical videos per day, published on social channels and on CNN’s platform, Felix said. “Over the next several months, as you see the kind of next phase of CNN come out into the world, you’ll see that same type of production format be at the center of the content and our products, because it is resonating.”
MLB’s VP, Social Media and Innovation Cameron Gidari noted that some baseball creators are as popular, if not more so, than baseball players “kids are recognizing them!” Thus, their strategy involves empowering these creators. “We have a really robust crop of up and coming baseball creators,” Cameron. “They’re non-traditional media for a new age.”
MLB’s creator strategy involves helping empower creators, to help them grow, giving them access to events and sharing their content. “We went to help them grow because we know that they’re Baseball Tonight for the next generation, right?”
Building deeper connections with direct relationships
Publishers have long held direct relationships with audiences, built on trust and high-quality content. These relationships allow media companies to understand and anticipate audience needs. Strategic insights also inform monetization strategies like subscriptions, events and advertising.
In 2025, strengthening direct relationships with audiences has never been more critical. As media companies expand beyond traditional advertising into licensing and other D2C strategies, deepening audience connections is essential for sustainable growth.
Daniel Alegre, CEO, TelevisaUnivision
CEO Daniel Alegre credits his company’s success to TelevisaUnivision’s vast Spanish-language content catalog, built over 80 years, which helps nurture a direct, multi-platform relationship with audiences. TelevisaUnivision integrated its operations and created a single content strategy that serves linear TV in both the U.S. and Mexico and ViX, its streaming platform.
Alegre noted that the company continues to innovate in video content to engage new audiences. They are developing one-minute “micro telenovelas” specifically designed for mobile consumption. “These are essentially made for the phone, and can create new commercialization opportunities for subscription and advertising … We can also work on microtransactions,” he said.
At the Athletic, Publisher David Perpich explained that the company is exploring partnerships to leverage its content and audience, including a partnership with MGM which integrated betting coverage, and Stubhub which allowed users to purchase tickets within The Athletic’s content.
And in a move that is certain to be a fan favorite, MLB formed a “partnership with eBay where we have a collectibles vertical and you can buy on eBay,” he said. The focus of these initiatives is on “how do we create content that consumers would love but then let’s figure out the right business model on the other side to take advantage of it.”
Relationships are also changing between media companies, brands and advertisers, with a greater emphasis on direct relationships and mission alignment.
Shannon Watkins, CMO, Fiserv
Shannon Watkins, chief marketing officer at Fiserv, explained that Fiserv increasingly bypasses media agencies, instead partnering directly with media companies, viewing them as extensions of their own marketing team. This direct model allows Fiserv to keep strategy development in-house while collaborating with media partners to execute.
“It’s less about the dollars and cents and more about that symbiosis that you can have with your partner media or otherwise, where it is a true mission alignment because then the conversation moves beyond placements and dollars, but how can we grow together? And that’s what we’re looking for,” she said.
Persevering and pushing forward
As digital media companies grapple with the challenge of maintaining trust amid increased scrutiny and competition from more personalized, often more relatable creators, the importance of direct, authentic relationships with audiences has never been clearer. Media are learning to adapt to this shifting landscape, where collaboration with creators can help rebuild trust while still maintaining journalistic integrity.
Media companies must evolve to stay relevant. However, they must also safeguard the foundational values that have long underpinned their role in society, including press freedom. This Summit highlighted how they are persisting through challenges. As Kint pointed out, “We must keep pushing for fair value, for IP protection, for a level playing field, in equal competition. And above all we must defend the role of a free and plural press at a moment when institutions are being tested from every angle, even at the highest office in the land.”
While we’ve seen shifts in consumer behavior over the past few years, they are now happening at an accelerated pace, which impacts those in the media and video entertainment sectors. Younger consumers, in particular, are moving away from traditional pay TV subscriptions in favor of streaming services, social platforms, and gaming. The rise of short-form, algorithm-driven videos offers an endless supply of free content that keeps users engaged for hours. These platforms excel in curating and promoting personalized experiences through AI and recommendation algorithms.
Thus, it won’t come as a big surprise that social platforms now account for more than half of U.S. ad spending, which positions them as major competitors to traditional media outlets. According to Deloitte’s Digital Media Trends 2025 Report, social platforms have become the new center of gravity in media, capturing both consumer attention and advertising dollars.
The report highlights that younger generations, especially Gen Z and millennials, are likely to cancel their cable subscriptions, citing high costs and frustration with the volume of ads. With cable bills averaging $125 per month, the appeal of traditional TV services is fading. For younger viewers, free content on social media and affordable, ad-supported streaming services provides a more cost-effective alternative to pricey cable packages.
As a result, pay TV subscriptions are declining steadily, dropping from 63% to 49% of U.S. households over the past three years. SVOD services now offer a wider range of options, including live sports, which once was a driving force for much of the pay TV market. Additionally, many users turn to social media for news and sports highlights, further eroding the traditional TV audience. consumer media habits include
Advertising landscape
With advanced ad tech and data analytics, social platforms dominate the global ad market. Deloitte’s research shows that ads on social media are more likely to influence Gen Z and millennials than ads on traditional TV or streaming services. The younger generations appreciate the relevancy and personalization of social media advertising. By comparison, ads on traditional media feel more intrusive and less targeted, which diminishes their effectiveness.
For traditional media companies, these trends present a significant challenge. Studios and streaming services increasingly turn to ad-supported subscription tiers to lower costs and attract a wider audience. However, these services still face an uphill battle in attracting advertisers away from the social platforms that dominate the digital ad space. The advertising capabilities of social platforms are advanced, as they leverage sophisticated algorithms and AI to target specific audience segments with highly relevant ads.
Streaming services
While streaming video services offer consumers a wealth of content, they have their own set of challenges. Rising subscription costs are creating dissatisfaction among users. The research shows that 41% of consumers feel that the content available on SVOD services is no longer worth their price. This is particularly evident as streaming costs rise—on average, SVOD subscribers pay $69 per month, a 13% increase from the previous year. Many consumers, especially Gen Z and millennials, cancel services and jump from one streaming provider to the next in search of better value.
Moreover, the advertising-supported tiers of SVOD services have become a crucial part of many companies’ strategies to lower subscription costs while generating revenue. However, this model comes with trade-offs. While 54% of SVOD users say they subscribe to at least one ad-supported service, many express frustrations with the volume of ads. To compete, media companies must find a price point that works for consumers while balancing the needs of advertisers and content creators.
Content creator connection
Content creators have become a central force in the media landscape. Social platforms offer a new generation of influencers whose content drives engagement and shapes consumer behavior. For younger generations, creators are now as influential as traditional TV stars and movie actors. In fact, many consumers report feeling a stronger personal connection to their favorite creators than to the personalities they see on traditional TV. This trend is fueling the growth of social media platforms as major entertainment hubs.
This shift represents an opportunity to tap into the growing creator economy. By leveraging social media, media brands can engage audiences in new ways and tap into the influence and authenticity that creators bring to the table.
As social platforms and content creators continue to dominate the entertainment landscape, traditional media companies must reevaluate their content strategies and business models. The merging of social platforms, creators, and on-demand services is reshaping the media’s core. Media companies will need to adapt to the changing demands of consumers, who now expect more from their entertainment experiences.
For subscription-driven publishers, newsletters can be a valuable way of building relationships with potential paying readers. But it can be a challenge to effectively promote newsletters and justify the extra work required to create them. However, MIT Technology review has seen success with a portfolio of editorially-driven newsletters published across the week. Key to their growth strategy is effectively reusing the newsletter content online to drive sign-ups, and maximizing opportunities to promote the newsletters across all MIT activity.
“Once someone has signed up to our newsletters, they’re two or three times more likely to become a subscriber,” said Niall Firth, executive editor, newsroom at MIT Technology Review.
With newsletters forming a key part of the publication’s subscriber funnel, promotion and growth of these products is a priority. Here’s how MIT Technology review structures its newsletter portfolio and promotes sign-ups to begin building those vital reader relationships.
Using the editorial to go deeper
MIT Technology Review has a variety of editorial newsletters in their portfolio. The Download is a daily weekday newsletter that features short, snappy summaries of key stories. It also includes a quote of the day, links from around the internet, and a throwback to a feature story that was published during the last year.
MIT also offers a selection of weekly “beat” newsletters. AI newsletter The Algorithm publishes every Monday, led by AI and hardware reporter James O’Donnell. Energy and climate newsletter The Spark comes out every Wednesday, and The Checkup, focused on health and biotech news, is released on Thursdays. Editor in Chief Mat Honan then publishes The Debrief, an analysis of the biggest tech news story, every Friday.
In terms of editorial strategy, these newsletters begin with a full editorial piece of around 700 words, which can be used for scoops, analysis, or context around bigger stories. “These are written from scratch every week,” Firth explained. “[The writing] that goes in there is in there first, so if you sign up to a newsletter, you’ll get to read it before it appears anywhere else.”
The second half of these beat newsletters is used for other relevant links, news and bite-sized updates, as well as subscription upsells and event promotions.
Each beat newsletter is led by a named editor, as they find readers connect better with a person or expert. Editors are encouraged to be conversational. “They’re like your smart friend guiding you through [topics]. So, if something is complicated in the world of your beat, your reader can rely on them. They’re going to lay it all out to you and tell you what’s important, which bits you can ignore, what you should be aware of,” said Firth.
It also offers the opportunity to go behind the scenes in a way web-first articles don’t. Casey Crownhart, MIT Technology Review’s senior climate reporter and writer for The Spark newsletter was at the ARPA-E Energy Innovation Summit recently, a conference dedicated to energy technology. For the newsletter, she wrote about what it was like to be there, and the undercurrents around emerging technology and climate change. “The vibes were weird,” she reported, using a more explanatory and informal tone than would normally be used for an article.
Publishing newsletters as stories
One of the key drivers of MIT Technology’s newsletter growth strategy is effective use (and reuse) of the content. Although newsletter articles are written first and foremost for the inbox, they are then republished the following day as a story on MIT Technology’s website, with a note pointing out that newsletter subscribers saw the story first.
This achieves an often tricky balance between offering newsletter readers exclusive content. It offers an exclusive window to subscribers, yet allows MIT to promote articles to as wide a readership as possible.
“Once they’re on the site, they get treated and promoted like every other story,” Firth said. He also pointed out that sometimes these newsletter-first stories do as well as, or even better than, standard web-first pieces.
When newsletter articles are published online, they appear with multiple notes about originally being published as newsletters, with sign-up boxes to capture interested readers. This also provokes a bit of FOMO (fear of missing out), and highlights that the value of the newsletter is in being the first to get relevant news.
MIT’s newsletter-first strategy lets the editors go deeper on stories that have already been published, as well as smaller or more timely scoops. Firth explained that there may be a big story from earlier in the week with off-cuts or reporting that didn’t fit into the story, but can be used as a whole new story for the newsletter. “That does double-duty: It’s cool to read an interview with a researcher on a topic that only got a line in the main story but is worthy of a whole separate interview. But then it calls back to the main story, and all fits together,” he said.
Although newsletter stories contain multiple calls-to-action (CTAs) for the relevant newsletter, Firth also noted that contextual newsletter sign-up boxes are promoted on relevant stories throughout MIT Technology’s site. Energy stories will have a promotion for The Spark, AI stories for The Algorithm, and so on. This means site visitors are given visible and frequent opportunities to sign up to newsletters, even on a first visit.
Linking newsletter strategy with events
Another tactic which has seen success in driving audience growth is visible promotion of newsletters at MIT events. The publisher has a stable of large-scale conferences and focused gatherings, from their flagship EmTech emerging technologies summit to digital leadership “classroom,” Future Compute.
“At all of our events, we have these massive boards in the lobby of the event. They have QR codes for all the different newsletters, with a specific UTM so we know it came from that event for that newsletter,” Firth outlined.
He explained that both new event registrants or new subscribers to the brand get a dedicated email about the newsletters they can sign up to. For example, a registrant for their EmTech AI conference would also get an email from James O’Donnell, newsletter writer for The Algorithm, showcasing their weekly AI deep dive.
Relevant newsletters are also promoted at online events, including webinars and live streams.
Other growth tactics
Firth outlined a number of other strategies used to grow their newsletter audiences. MIT Technology Review has a hard paywall for around a third of the stories on the site. But for stories promoted on social media platforms, the team will offer access in return for signing up to a related newsletter.
“On Instagram, if we have a new big feature around AI, we do Instagram Stories where the ‘front page’ of the story would be the article, and the second page is a sign-up box to The Algorithm to get access to it,” said Firth.
The team has seen success using this tactic with some more surprising platforms like Reddit, too. Firth noted that Reddit attracts people who want to go particularly deep into various topics, rather than surface-level technology coverage; an audience their newsletters suit well.
Last year, the publisher experimented with exit intent popups – banners that appear when a user looks like they’re about to click off the page. Firth shared that these drove 4,000 new sign-ups over the test period last year. They are hoping to roll out a wider test of exit intent popups this year.
In October last year MIT launched a free six-week limited series newsletter, Intro to AI. Newsletter courses like this can be a good way of letting potential readers sample work without committing to a more regular newsletter. Each newsletter in the course takes the opportunity to promote the Algorithm.
Chief Executive Officer and publisher Elizabeth Bramson-Boudreau told A Media Operator that since launching, the course had attracted 17,000 subscribers with an average open rate of 57%. Now, the publisher is looking at other complementary areas to its regular beat newsletters, like healthcare.
MIT Technology review has also been experimenting with newsletter promotion swaps as part of its growth strategy. Axios and Semafor have been early partners for this, with newsletters exchanging ads for the other publication to attract interested audiences who are already engaged with newsletters.
Crucially, all newsletter promotions make it as simple as possible to sign up, with readers being asked for just their email address.
There’s no silver bullet or one tactic that will result in sustainable newsletter growth. MIT Technology Review’s approach is to ensure that beat newsletters are consistently promoted across relevant pieces online. Every opportunity is taken – from events to social stories – to funnel audiences into topical newsletters. It is this combined, holistic approach that fuels MIT’s success.
The transition away from traditional pay-TV is accelerating. In fact, traditional TV no longer dominates the video subscription market. By 2028, traditional pay TV’s share of video subscription revenues will decrease to just one-third. Meanwhile, digital pay-TV services, also known as virtual multichannel video programming distributors (vMVPDs), will increase their share from 13.2% in 2025 to 15.4% by 2028. These services, including YouTube TV, Fubo, and Sling TV, deliver linear TV content over the Internet, making them appeal to consumers seeking flexibility and lower costs than traditional pay TV.
Emarketer’s Digital Video and Trends report for Q1 2025 shows that streaming services are poised to achieve even greater growth, increasing their share of video subscription revenues by about eight percentage points by 2028. Notably, YouTube has become a significant player in the subscription business. While YouTube remains known for its free, ad-supported platform, its YouTube Premium and YouTube Music services collectively boast over 100 million subscribers. YouTube TV, which claimed 8 million U.S. subscribers in 2024, is also contributing significantly to the growth of digital pay TV.
Rising costs and consumer behavior
Although subscription revenues still dominate the streaming sector, rising prices are reshaping consumer behavior. In recent years, both traditional pay-TV and streaming services have raised prices, driven by inflation. However, streaming services have increased prices at a faster rate over the past two years, surpassing the cost growth of traditional pay TV. This price disparity has triggered consumer pushback, especially as streaming services introduce price hikes and clamp down on password sharing.
Streaming giants like Netflix, Hulu, and Disney+ employ strategies to boost profitability, including raising subscription costs and limiting account sharing. These actions, along with content cuts, have led to some consumer dissatisfaction. Despite these challenges, streaming services remain profitable on paper.
Among the streaming platforms, Hulu and Disney+ have made some of the largest price increases for their ad-free plans. While Apple TV+ stays relatively affordable, its library lags behind competitors. All the while, it has doubled its subscription price since launch.
Live sports drives subscription growth
Streaming services are capitalizing on the growing demand for live sports, which increasingly draws subscribers away from traditional TV. Major streaming platforms, such as NBCUniversal’s Peacock and Amazon Prime Video, continue to invest heavily in sports rights. This is further shifting the sports broadcasting landscape from traditional TV to streaming platforms. By 2027, digital sports viewership will surpass traditional TV viewership by 52 million viewers, signaling the ongoing transition in how consumers watch live sports.
YouTube TV’s growth and the digital pay-TV market
YouTube TV is seeing significant success among the growing digital pay-TV services. As traditional pay-TV continues to shed subscribers, YouTube TV is adding them at a steady pace. By 2026, it will become the largest pay-TV operator in the United States. Although YouTube TV is not yet profitable, it is an important player in the broader digital pay-TV market, now accounting for about one-fifth of total pay-TV subscription revenues.
The digital pay-TV market is also experiencing consolidation. In January 2025, Hulu + Live TV and Fubo TV announced a merger. Disney will hold a 70% stake in the new venture, with Fubo’s leadership overseeing operations. Although Hulu + Live TV and Fubo will remain separate offerings, this consolidation may lead to further streamlining of the digital pay-TV space.
Shifting streaming revenue streams: subscription vs. advertising
While subscriptions still represent the majority of revenue for streaming services, advertising is growing in importance. From 2023 to 2027, advertising’s share of total streaming revenues will increase by nearly four percentage points. This rise in ad spending reflects the growing significance of connected TV (CTV) platforms, a critical avenue for advertisers looking to reach consumers on streaming services.
In fact, CTV ad spending may exceed 15.8% year-over-year growth in 2025, outpacing the 10.6% growth forecast for U.S. streaming subscription revenues during the same period. However, both advertising and subscription revenues in traditional TV are in decline, though price increases for subscriptions help slow the rate of decline.
While this Emarketer report focuses on the U.S. market, it’s important to note that streaming services are also seeing significant growth worldwide. As of Q2 2024, nearly 60% of Netflix’s revenues come from outside of North America. While prices are lower in regions like Asia and South America than North America and Europe, the global growth potential for streaming services remains immense. Countries across North America, South America, Europe, and Asia-Pacific are seeing high levels of subscription penetration, with streaming services continuing to expand their reach internationally.
The video subscription landscape is undergoing a dramatic transformation. Traditional TV’s dominance is slipping as streaming services and digital pay-TV providers continue to capture an increasing market share. For media executives, this shift presents both challenges and opportunities.
Subscription revenue remains the primary source of growth for streaming services. Rising costs and consumer demand for more flexible, lower-cost options continue to shape the industry. At the same time, the increasing importance of advertising revenue, coupled with the global expansion of streaming platforms, offers new avenues for monetization. Staying ahead of these trends and adapting to the evolving market dynamics is key to maintaining a competitive edge in this rapidly changing ecosystem.
Gen Z gets a bad rap from the news industry. Whether it’s news avoidance, the refusal to pay, or the rise in following news influencers rather than media organizations, myriad issues make it challenging for publishers to build relationships with younger audiences. Yet young audiences will pay for products that add value to their lives.
The belief that younger audiences will engage – and even pay – for media products drove the foundation of Youthquake. Danuta Breguła, MD for Paid Products at Ringier Axel Springer Polska and Liesbeth Nizet, Head of Future Audiences Monetization at Mediahuis nv are the people behind the Substack publication that focuses on how publishers can connect with young people.
Crucially, it’s no longer the case that young people will simply “grow into” paying for news as they get older and have more disposable income. Nizet explained that this is a change that she’s seen over the 15 years she’s worked in journalism. “News is not a destination any more,” she observed. “[Young people] consume news between all the other cool things. That’s why platforms are really interesting for them, because they give you news, but also all the other stuff.”
Although the push to go directly to a news app or site may be lower, Nizet believes that younger audiences can be persuaded to pay for news. That belief drives her work every day at Mediahuis.
“You see that young people want to pay for a new skin in Fortnite, or something on Roblox, or a nice feature on Airbnb for example, because it inspires them, or triggers them,” she explained. “Why aren’t we able to find what triggers them [to pay] for something as important as independent journalism?”
Thinking beyond the article
One issue Nizet highlighted is that many news organizations still think in text and image. Even video on news sites is usually landscape with a clumsy play experience. “It’s not the experience that they have on other platforms, and there is really some space for us,” she emphasized.
Short-form video — in portrait for mobile viewing – is the preferred consumption format for 61% of Gen Z and young millennial consumers surveyed by the Reuters Institute. Short-form text was the next most popular (40%), with long-form text ranking third in young audiences’ preferences (32%).
One example is looking at explainer videos which perform well for creators and influencers. News brands are ideally placed to do well from these, but Nizet said that this requires journalists showing their faces. To engage young news audiences, “we need to show our vulnerability,” she outlined. “We need to show how much effort it is to create a really good article, that it’s not just some piece of content like an influencer unboxing something.”
Nizet pointed to Danish news publisher Zetland as an example of offering alternative formats. Zetland identified that many of its readers wanted to get an update on their commute, and didn’t necessarily want to be looking into their screens. They invested in building an audio app with journalists reading out their stories. Now, 80% of their audience consume the news that way, and 45% of their subscribers are in their 20s and 30s.
Building trust off-platform
As well as innovating around publishers’ own platform experiences, there is value in investing in a presence wherever younger people are, in order to build those relationships. French daily newsbrand Le Monde told Press Gazette that investing in content for primarily Snapchat, TikTok and YouTube had helped initiate relationships with new audiences, who they then saw become paying subscribers after two or three years.
Nizet noted that although the end goal of being visible on social media should be to tease audiences back to publishers’ own work, there is a bigger role at play. “We can show them [on social] what our journalism looks like, how trustworthy it is, how we show different perspectives, and how we make content that is relatable to their world,” she said. “That is what will make them pay for it.”
“They don’t want to pay for some instance that is preaching to them how they need to live their lives. That is often what we still have in traditional media: we are going to tell you how the world is, and how you should think. It worked for other generations, but it doesn’t work for [young people].”
Although younger audiences are more likely to turn to social media for news, they are also very distrustful of the information they find on it. A Gen Z Report from Oliver Wyman Forum & TNM found that Gen Z are almost twice as likely to fact-check news, but also that they trust people like them 2x as much as “mainstream” news outlets.
Another opportunity social platforms present publishers is the ability to engage and interact with young news audiences. This isn’t a new phenomenon, of course. Nizet noted that older generations also comment and read what others are saying with as much interest as the original content.
“We are not just senders, but we act like senders,” Nizet explained. “We see platforms as traffic drivers. But a platform can do so much more than just traffic building. It’s about building trust and engagement, and letting people get to know your journalism.”
Crucially, this requires a re-adjustment of who publishers assess as their competitors. “We’re not competing against [traditional] media any more,” Nizet pointed out. “We are competing against cat movies, and influencer drama… that is the real competition.”
There is a balance to be struck between investing in building audiences on platforms publishers have little control over, and showcasing work to build trust. Nizet draws a clear distinction in her work at Mediahuis. Off-platform is the hook, where the question should be how journalism can be showcased and trust can be build. On-platform is about the reward, the value, the exclusivity and the community.
Looking outside publishing for inspiration
However successful individual publishers might be at attracting younger audiences, Nizet believes that real change will come from looking outside the industry at what works in other areas. This is the focus of her and Breguła’s Youthquake newsletter, and a report on How publishers can grow with today’s youth.
“We really want to go beyond the obvious things. So for example how Taylor Swift or Red Bull can help us understand and monetize younger people,” Nizet said. “There’s also a link between content creators, influencers and news brands…which could offer you a totally different perspective as a journalist than what you are used to, and it can be so enriching.”
It’s a sentiment that Zetland CEO Tav Klitgaard echoed to The Publisher Podcast this week. “The product has to be much better,” he said, referring to news sites and apps. “You have to compete with Spotify and Instagram. You shouldn’t compete with a legacy print paper, and it seems like a lot of people in the media industry are still believing that’s [who] you need to compete with, which is just totally wrong. You need to compete with YouTube.”
A shift in thinking to engage young news audiences
Nizet is optimistic that publishers can build a relationship with younger audiences, even a paying one. She pointed out that there will always be a need for news, and that there is a lot of opportunity for those who can think outside the box.
Crucially, the answer to these challenges won’t come from the way publishers are used to doing things right now. “We need to shift how we think,” Nizet emphasized. “We don’t control the internet… but we can see how we can adapt to it in formats that [young people] like, and stories that they like and feel relatable.
“At some point, they will pay for it. I don’t mean when they are 30 or 35, I mean at the moment that they are feeling the value that we can offer them.”
Building a relationship where that value becomes evident to Gen Z is not a quick task. Strategies put in place now will take years to pay off, as with the example of Le Monde on social media. But it is a vital job that news publishers need to actively be planning for, if they want young audiences to pay for news in the future.
Subscriptions remain a vital revenue stream for most media companies, but the landscape is rapidly shifting. In response, publisher strategies also need to adapt and evolve.
The days of easy subscriber growth are over. To drive subscription growth, media companies must double-down on addressing core challenges such as churn, consumer fatigue, declining social referrals, and opportunities afforded by AI to sharpen their engagement strategies.
This will mean focusing on retention and maximizing lifetime value. Media organizations will also need to refine paywall strategies and offer flexible, engaging, experiences to ensure audiences keep coming back – and, ideally, keep paying for your content.
To better understand these trends, I reached out to four leading industry experts: Kevin Anderson, Peter Houston, Greg Piechota, and Madeleine White, and examined the latest insights from WAN-IFRA and the Reuters Institute for the Study of Journalism.
Here’s what you need to know.
Trend 1: Retention is king
“Publishers long ago converted the low-hanging fruit of their most engaged audiences to subscribers,” notes Kevin Anderson, Director Consulting Services at Pugpig. This is one reason why, as the latest Digital News report revealed, subscription growth has largely flattened.
Moreover, in an era of news avoidance and on-going declines in social media referrals, “the flow into the top of the conversion funnels is drying up,” Anderson adds. “Growth is getting harder to find.”
As a result, a focus on retention will a key priority for publishers in 2025. Afterall, as Greg Piechota, Researcher-In-Residence at the International News Media Association (INMA), reminds us, “you make more money with higher retention than with higher price.”
An emphasis on reducing churn and developing long-term customer relationships can be seen across the subscription economy. Recurly’s 2025 State of Subscriptions report found that return acquisitions account for 20% of new subscribers, underlining the value of retaining your audience.
Tactics to successfully do this include payment flexibility (e.g. weekly, monthly and annual plans), and the ability for users to pause a subscription, rather than cancel it.
Local newspapers like the Bangor Daily News in Maine, enable you to pause your print subscription when going on vacation. The New York Times offers something similar. Applying this principle to digital products may reduce cancellations and keep more consumers engaged long-term.
This matters because, as The Daily Beast discovered, subscribers are worth 18 times more than unknown users. And that figure grows to 169% when revenue from first-party data and advertising is taken into account across channels such as newsletters and apps.
Retention strategies therefore need to encompass your whole product stack. Newsletters, apps, podcasts and push notifications aren’t just pathways to conversion. They are a means to drive revenue and deepen audience loyalty across multiple touchpoints.
Trend 2: Harness AI to become truly audience-first
Media companies have talked about being “audience-first” for years, says Madeleine White. But a lot of this potential is unfulfilled, she contends. White, VP Marketing at Poool, and Editor In Chief and co-founder of The Audiencers, believes advancement in AI offers a means to finally deliver on this promise.
AI allows us to segment readers based on interests, engagement levels, and traffic sources. This means that media companies can move away from generic offerings to more personalized experiences that support subscription growth.
White points to TIME’s Person of the Year experience as a case in point. Through the use of Generative AI, audiences could consume the cover story through a range of formats. This included an audio version, a concise summary, an in-depth analysis, and the ability chat with an AI assistant about the winner, President Donald Trump.
“Instead of simply kind of creating this single form, the article becomes shapeless,” White says. “It can be transformed and controlled by each reader, which is basically what audience first, is all about.”
Through the use of Generative AI, audiences could consume the cover story through a range of formats.
Trend 3: AI-powered paywalls become commonplace
Dynamic AI-driven paywalls are nothing new. But they are growing in adoption and sophistication. And this evolution offers subscription growth.
As INMA’s Piechota explains, “publishers are using data and AI to tailor paywalls more precisely. This boosts conversion by predicting both each user’s and each article’s propensity to subscribe.”
Hearst USA is one such publisher adopting this more sophisticated approach. They worked with Mather Economics to create a machine learning model that uses 75 different variables to trigger actions designed to mitigate churn and engender long-term customer loyalty.
“The biggest challenges lie around putting this into practice,” White contends. Many “publishers are kind of trying to jump the gun and go straight to a very machine learned AI based model,” she says. She recommends a more incremental approach. Articles that provide unique value should sit behind a paywall, White suggests. More “commodity content” can be open to all, in order to get as much advertising revenue as possible.
Argentina’s Clarín, the Spanish-language newspaper with the largest number of digital subscribers in the world, is already adopting this approach. As outlined by Spanish journalist and consultant Ismael Nafría, hindering access to what Clarin calls “decisive articles” is essential to persuading audiences to subscribe. The publication seeks to publish 10 to 12 of these kinds of articles per day.
Trend 4: Bundling 2.0
I wrote about bundling strategies back in May 2023. Since then, a growing number of publishers have sought to innovate and expand their efforts in this space to fuel subscription growth. Piechota observes how companies aren’t just bundling their own products. They’re “increasingly partnering with other publishers, even competitors, to engage broader audiences.”
One such business, The New York Times, “is obviously the Queen of the bundle,” says Peter Houston, co-founder of Media Voices and the author of The Magazine Diaries.
The Gray Lady recently announced it has more than 11.4 million total subscribers. However, that hasn’t stopped it looking for subscription-rooted partnerships, at home and abroad.
Meanwhile, both Anderson and Piechota point to the success of the Norwegian publisher Amedia as a leader in this space. “Amedia is a super bundler,” says Piechota, “selling readers access to more than 100 brands with one price and app.” He notes that 75% of digital subscribers at Amedia upgraded to such a bundle; compared to 50% at the Times.
Trend 5: An emphasis on pricing and value
Media companies are increasingly vying for our time, as well as our wallets. “If Netflix puts its prices up, do you cancel Netflix, which you watch for hours every week, or the hobbyist magazine which you love but only read once a month?” asks Houston. Against this backdrop, the perceived value of your offer will define a consumer’s propensity to subscribe or keep a subscription.
The breadth and depth of content you offer is part of this equation. However, specialist content, which allows you to dig deeper, can also be a major draw. As Houston explains, “super-niche coverage will also become attractive to consumers who want less distraction and more of what they really care about.”
Tortoise Media’s Daily Sensemaker podcast Is a case in point. It hits multiple consumer needs via a daily 10-minute show exploring a single topic, designed “to make sense of the world.”
“Value adds” can also be part of this mix. Membership models have long leaned into this, with a mix of exclusives, events and discounts. Last week the podcast The Rest Is Politics US announced that founding members would be able to join recordings of new episodes live on YouTube. Everyone else gets to see (or hear) the show a day later.
Print might also be part of the equation. In October, The Atlantic revealed it would return to monthly editions of its print publication due to subscription growth and a return to profitability. The title had been published 10 times a year for 22 years running.
And after a four-year hiatus, Saveur magazine, a 30-year-old gourmet, food, wine, and travel publication, resumed print editions last spring. “We see our print product as the couture of our brand,” Editor in Chief and CEO Kat Craddocktold The Publisher Podcast. “It’s for the superfans.”
In short, subscribers want to feel they are getting their money’s worth, both in terms of content and experience. Delivering on both of these fronts is the sweet spot publishers will increasingly need to hit to drive subscription growth.
Assembling strategic pieces for subscription growth
The subscription landscape is beginning to undergo a major transformation, driven by the need to innovate, and the ability to harness AI and audience data to create more tailored and media-rich offerings. These factors combine to create opportunities for subscription growth.
INMA’s Greg Piechota highlights the key takeaway. “The common thread,” he says, “is a blend of differentiated journalism and engagement-driving products.” And this must be underpinned by “mastery in data analytics, and a willingness to experiment.”
Success in this arena is vital for the financial health of most media companies. A survey of 326 media leaders in 51 countries, as the Reuters Institute’s annual predictions report, found that 77% of respondents said subscriptions were “likely to be important or very important” for their company in 2025.
To succeed publishers must move “beyond long and discounted trials, and targeted price increases at renewal,” Piechota contends. Moreover, as Pugpig’s Anderson points out, although many publishers have been trying to increase the average revenue per user (often through premium bundles), that’s not an option that’s open to everyone.
As a result, in the coming year, expect to see a refinement of subscription tactics, with an emphasis on retention, personalization, and flexibility. These principles will cut across price structures, bundling strategies and wider engagement strategies.
“The bottom line for subscriptions is that people don’t want to waste money or time on them,” argues Media Voices’ Houston. “So many people have a bloated subscription stack and the reckoning is coming.”
With many outlets continuing to see a decline in monies from advertising and print, an emphasis on reader revenue will remain a strategic priority.
As Poool’s White emphasizes, that means it’s more important than ever to deploy user-focused, audience-first approaches. These models value loyalty and long-term relationships more than short-term conversions.
Continued subscription growth is possible for media companies that understand and incorporate these factors. By evolving their subscription growth strategies, they will be most likely to prosper in the year ahead and beyond.
The subscription media landscape continues to evolve, reshaping how consumers engage with digital content and how businesses strategize to maintain their market share. As digital media matures and price sensitivity increases, the market has responded with innovative pricing models and premium offerings.
The DCN Digital Media Subscription Tracking Report provides insights into these changes, offering year-over-year trends and brand-specific data exclusive to DCN members. Here are key highlights from the latest report:
Subscriptions Decline, Spending Rises: While the average household subscription count fell by 4% in Q4 2024, annual spending on digital subscriptions grew 7%, indicating a shift toward prioritizing high-value services.
Bundling Gains Popularity: 59% of SVOD subscribers opted for bundles in Q4 2024, up from 52% earlier in the year, as consumers seek value-driven solutions.
Ad-Supported Tiers Surge: Consumers increasingly choose ad-supported streaming services to cut costs. SVOD with ads saw a 14% increase, while no-ad services declined by 12%.
Top Performers in SVOD: Amazon Prime Video with ads quickly ascended to the top spot among users. Hulu with ads rose to third, Peacock with ads rose to fourth, while Disney+ Premium with no ads dropped to fifth place.
As the media subscription landscape continues to evolve, innovation in bundling and tiered options remains crucial. These findings underscore the resilience of premium digital content and the importance of staying attuned to evolving consumer needs.
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Apps are hot again. After the boom in investment in interactive publisher apps in the early 2010s failed to produce much in terms of audience growth or return on investment, many publishers quietly closed their apps, turning instead to putting content on social platforms and relying on responsive design for the mobile experience. But app strategy for media brands is shifting.
As the cost of producing apps comes down, coupled with the intense competition for attention on platforms, publishers are reconsidering their app-approach.
The intent is different this time, however. Rather than being a vehicle to drive discovery, publishers like the FT with lightweight offering FT Edit, the New York Times’ subscription-only NYT Audio app, and even start-ups like the Baltimore Banner are using their own apps to build deeper relationships with superfans.
New York Magazine is the latest publisher to take another look at apps. They previously launched one in 2013; a replica of the print magazine with interactive features, which was shut down a few years later.
Last month, they announced the launch of a new flagship mobile app. Notably, it includes all six of New York Magazine’s verticals as well: Intelligencer, The Cut, Vulture, The Strategist, Curbed, and Grub Street.
So what made an app an attractive proposition this time around, and what are their primary aims with it? “Over 70% of our readers read on mobile,” Priyanka Arya, SVP of consumer revenue at Vox Media said. “Mobile is the primary point of entry, and the primary reading experience for our subscribers and readers. So we wanted to create the best reading experience for those users.”
Arya also said that an app was one of the top features requested by subscribers, both through solicited and unsolicited feedback. As a result, the team decided to look at creating a mobile-first experience that would first and foremost serve subscribers.
Strategy: One app, six titles
The decision to have all six verticals within one app may seem unusual, but it reflects the subscription setup of New York Magazine. Rather than offer standalone subscriptions to each vertical, readers who wish to access Vulture or Curbed instead pay for a New York Magazine subscription which gets them access across all verticals.
Arya emphasized that having the verticals and the appropriate branding was important rather than pooling articles across the portfolio by topic, for example.
“We see very different behavior across our audience,” Arya said, explaining why they offered them all in one app. “There’s folks who really go deep into one vertical, there are folks who enjoy multiple and go across our portfolio, and we wanted to create an experience that served both users as well as enhanced discovery for those who may only be single-vertical readers.”
When users enter the app, there are a variety of different experiences they can have. If they’re very focused on one vertical, they can set it as their homepage and tailor the experience. But Arya said that they make an active effort to encourage people to read across the brands with toggle options for quick takes, deep divers and long reads. “We see folks who do read across verticals are among the highest engaged and highest retained,” she noted.
The app therefore also serves as a discovery vehicle for these other brands. Readers may have different levels of familiarity with other verticals when they subscribe. “We see through our newsletter efforts that there may be loyal Vulture readers or The Cut readers who are just going to those home pages, so they’re not experiencing everything that we’re putting in print or we’re putting in some of our other verticals,” Arya pointed out. “But they tend to really enjoy it when they do find [others].”
A premium reading experience
Rather than a bells-and-whistles experience, app users these days seek clean, fast-loading reading. But publishers still have to develop a strategy that differentiates their app experience from web browsing to encourage downloads.
The New York Magazine app has built in a number of features to offer a premium experience. As noted above, there are convenient toggles between brands, and the ability to set a homepage while easily navigating to other sites. The app also offers personalized notifications so readers can get alerts for what they most care about, and a better ad experience than on browser.
Perhaps the most compelling proposition of the app is curation. The app includes a ‘Great Stories’ section that pulls together a curation of timely stories and the best pieces from across the portfolio, selected by editors.
“Our feature stories that run in our print magazine and across the portfolio online are among our most popular no matter what interests you may have or vertical affinity you may have,” Arya explained. “That is a place that doesn’t exist on web that can really help you navigate through some of our best pieces and read what our editors are recommending.”
Helping users find the best stories without the help of algorithms is an increasingly appealing prospect. Because personalization was available for push notifications, the team were keen to have somewhere to showcase the best of their editorial across brands, with human curation.
A long-term play
For many publishers, return on investment (ROI) can be a stumbling point for apps. Although they’re cheaper than ever, they do still require upfront investment, often without the promise of short-term, or even medium-term returns.
For Arya, the app is a long-term investment. “What we’re hoping is by getting as many subscribers as we can to download and use the app, we can increase engagement and therefore retention,” she explained. “There’s a pretty lucrative argument around retention, which is always a longer term play, but a much more sustainable play.”
“Our top 20% engaged subscribers have a 30 to 40% higher retention rate than our average subscriber. That’s substantial. So our goal is to continue to move more people into higher engaged tiers.”
Retention increases are far from an overnight task. But a better retention outcome translates to a solid – and more sustainable – revenue outcome in the long term.
Although the New York Magazine app is primarily a retention play, Vox has a strategy for encouraging non-subscribers to download the app with the goal of converting them later. Users have to create an account up-front. Then they get a number of free articles before hitting the subscriber wall, similar to the web experience.
“We built the app with our subscribers in mind; a lot of the feature development was looking at those reader habits and building for them,” said Arya. “But we are encouraging readers who aren’t subscribers to download the app, and we do have a strategy to engage them within the app and ideally convert them.”
Promising early results
At the time of writing, the New York Magazine app is in the top #10 of the Magazines and Newspapers section of the app store. It also has very good ratings and feedback, and requests are already coming in from subscribers for features such as saving and favoriting articles. An Android version of the app is also in the works.
Crucially, Arya sees it as more important than ever that publishers focus on their own properties. “With algorithms changing and platforms constantly changing, betting on your direct traffic and your loyal audience is something that’s been really important to us, and I think should be for other publishers,” she emphasized.
