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Thursday 20th August: Celebrating digital success at TIME
Good morning! Today's Media Roundup is brought to you by Esther.
TIME magazine's digital revenues in the second quarter surpassed its print revenues "for the first time in our brand's history", according to a staff memo sent by TIME president Keith Grossman.
Now before any of you sceptics wonder if that's because print has dropped, it's not! Print subscription revenue actually increased by +6%, and digital revenues grew 58% year-on-year.
The note Grossman sent round (which you can read here) set out the company's focus areas for the third quarter; namely establishing multiple, recurring revenue streams, evolving TIME's video and streaming strategy, increasing B2B deal sizes, and launching a B2C app for consumers. It's also started testing a digital subscription for its TIME for Kids brand ahead of a wider rollout in September.
We love good news, and we like it even more when they take the time to break down how they got there.
Apple News+ was deeply flawed from the start. Is there really a future for publishers on the platform? — voices.media
New from us: “The bottom line with Apple and their relationship with the publishing business is that it’s a tiny part of their revenue. If their publishing initiatives all feel like a bit of an afterthought, that’s probably because they are.”
'They're here to stay': Condé Nast's virtual events upfront working to convince sponsors that new remote platforms have real value — digiday.com
Condé held an hour-long Virtual Events Upfront showcase this week to outline what advertisers can expect from the company's portfolio of brands (and 200 planned virtual events) for the rest of the year. It's aimed at pushing advertisers beyond one-off event partnerships and getting them to buy across events and brands.
Some more good publishing news! British music journalism publication New Musical Express (NME) has increased its presence in Asia Pacific after launching into South East Asia. NME was bought by Bandlab Technologies in APAC last year. Its Asia headquarters will be in Singapore, with journalists across Singapore, Malaysia and the Philippines.
Today's throwback:
Quartz has passed 20,000 paying members this week, so today we're taking you way back to 2016 with a vintage episode (when we were new to podcasting!). Simon Davies of Quartz tells us how the international business-focused news outlet builds innovation and product development into the workflow.
We love what we do, and we know it's a privilege to have you as a subscriber to the newsletter and podcast. But we'd love it more if we could be caffeinated while we do it - if you can spare some money to buy us a coffee, we'll love you more too.