A Quote by Zanny Minton Beddoes
Subscriptions is the bulk of our business; ads are nice to have on top of that.
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Print works! It works as a business proposition - our print readers [of the Mother Jones] not only provide revenue in the form of subs and ads, but they are a core part of our donor community; 10 percent give us a donation on top of their subscription; that's about the same rate as NPR gets from its listeners.
In our case, we focus on quality, and we have a very simple model. If we show fewer ads that are more targeted, those ads are worth more. So we're in this strange situation where we show a smaller number of ads and we make more money because we show better ads. And that's the secret of Google.
The subscriptions were working so well, and on top of that, we saw the success of Netflix and Spotify and thought, 'We can create a similar kind of experience for books.'
And what most people don't understand is the bulk of business in this country is small business.
All of the business of selling apps and selling subscriptions is extremely cruelly misunderstood, including by me.
I don't think anyone would object to Facebook selling ads or having ads directed at me, as long as people didn't think those ads were manipulated by personal data.
In our quest to tweet, like, and trend, we have forgotten that brands can be built through advertising. Ads can generate big ideas that can never be trumped by tactics. That is the magic of an ad, and that is what is missing from many ads today.
I was working in a family business-the fur business - and I hated it. I was reading the New York Times want ads, and I saw a photographer's assistant job in Vogue. Things went from there.
I love design in general, the creativity. Whether it is golf courses, my apparel line, ads we do or our business with AriZona, design is fun.
When you're reading a newspaper and you're seeing ads on the page, it's not kind of invasive. Like, it's on the page next to the article. You can look at it or not. You can turn the page when you're ready. On the internet, the ads - many of the ads - just are so controlling. They insist that you see them.
Movies you pay for - well, sometimes they throw some ads at the beginning now - but generally you pay for ads. And that business model - actually, much more ancient, paying for stuff - is much more straightforward in terms of the incentives of the people who are then giving you the stuff.
We're in the media business today. We're in the business of helping authors and publishers market their books to readers. And that's where we make our money. We sell book launch packages to authors and publishers and really help accelerate, build that early buzz that a book needs to succeed when it launches and accelerate that growth through ads on the site.
I saw that we needed to grow but our top line wasn't growing, so we had to find other ways to grow the business. We had to reshape our business and acquire share in a non conventional way. But most tech leaders don't come out of a business background. They really have a parochial point of view. All they know are the go-go years of Silicon Valley. That's the environment in which they were raised.
All business models have something challenging about them, but the problem with the attention merchant business model they have is they need to keep increasing the amount of ads they deliver to people and therefore make their product worse.
It's very fashionable to talk about human trafficking, in this fantastic A-C hall. It's very nice for discussion, discourse, making films and everything. But it is not nice to bring them to our homes. It's not nice to give them employment in our factories, our companies. It's not nice for our children to study with their children. There it ends. That's my biggest challenge.
There's definitely some sort of dissent brewing between record labels, publishing companies and artists [about the compensation they get from streaming services] Spotify is returning a HUGE amount of money [to the record labels]. If we continue growing at our current rate in terms of subscriptions and downloads, we'll overtake iTunes in terms of contributions to the recorded music business in under two years.
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