CX was one the only fully paid circulation trade mags in the world until this month when we went digital free. It was a decision made some time ago and timed for the inflection point where advertising revenue fell below a trigger.
This sounds illogical. Wouldn’t we be chasing every dollar, especially readership money, to replace the missing money?
Here’s the thing. Reader revenue was only ever a low percentage of turnover. Advertising keeps us here and has kept me in the style to which I’ve become accustomed. It paid for the kids to get an education. It paid for all the divorces. There was money left over to reinvest.
CX has sunk a lot into platforms since 2010 – online, TV and social media. We now have a lot of channels in our network. But the old format of putting a paywall around the magazine content meant our reach was more limited. So we started a project called Future of Media, or FOM.
This month marks phase one of the FOM plan, with Digital Free now open and doing sensational business out at cxnetwork.com.au
This is where you register your details and in exchange you open up the trove of current and back issues for free online reading and downloading.
Phase two will happen very soon, and then FOM will become a rolling initiative. Media must change to survive, and change is constant.
Picture: Julius with Bob King