After launching Magzter GOLD, their “all-you-can-read” Netflix-like digital magazine service earlier this year, Magzter has announce that their GOLD subscriber base has increased by 200% every month.
Magzter, the largest and fastest-growing digital magazine store and newsstand in the world, with more than 27 million users globally, today announced that Magzter GOLD, the company’s ‘all-you-can-read’ digital magazine subscription service, grew its subscriber base by 200% every month since launching in January. Magzter has dropped its subscription price to $7.99 per month to promote adoption during the 2015 holidays
In the past few months, Magzter GOLD has also added 500 new magazine titles, taking the total inventory for the service to over 3,000. Titles include Bloomberg BusinessWeek, Entrepreneur, The Atlantic, Maxim, ESPN The Magazine, Inc., Fast Company, and Men’s Fitness.
“Since launching Magzter GOLD in late-January, the service’s subscription base has increased by 1,800 percent, and we’ve seen a 55 percent increase in the number of paid magazine pages read,” said Girish Ramdas, CEO & Co-Founder of Magzter. “These growth numbers have exceeded our expectations and validate the ‘Netflix’-style subscription for digital magazines as a model with unlimited potential.”
Magzter GOLD will also be dropping its monthly subscription price from $9.99 a month to $7.99 a month to further drive customer adoption and grow its subscription base during the holidays. In addition, Magzter GOLD announced several new features designed to drive content discoverability and overall engagement. These features include:
- Family Sharing: Users can now share their subscription with up to four members of their family.
- Clipping/Sharing of articles— Users may select any part of a magazine and clip the article in order to share it across social media channels.
- Filtering Magazines—Users can filter magazines by language, age, content rating etc., for better content discoverability.
“Our goal in launching Magzter GOLD was to provide our 27 million users with an affordable way to discover and consume as much magazine content as possible through the ‘all you can read’ model,” said Vijay Radhakrishnan, President & Co-Founder of Magzter. “We’re encouraged by the growth of readership under the age of 30. In the last 6 months we have seen 30% growth with these new age readers. We also see a huge adoption of Magzter Gold model in countries like US, UK, India including some Asian countries. To drive further growth and ensure our leadership status, we will lower our subscription price and add new features in time for the holiday season.”