Content recycling awakes sleeping money
I would not have shortlisted the New Yorker years ago as becoming a frontrunnng innovative multi-platform publisher by now. But they really are.
What they understand a lot better than other publishing houses is the degree in which they can re-use ‘old’ content, content they produced years ago. The state of mind in those companies as far as old issues concerns, is that ‘published’ means ‘over’, ‘done’, ‘out-of-date’, or good for wrapping the fish. The New Yorker proves different.
To start with: they use ten platforms for their content and products, and have a smart business model to make the user pay some good money for it, without feeling ripped of. Not even close. If you manage to create the feeling that a paying customer gets good value for money with old content, then you must be doing something fairly right.
Many publishers have the feeling that recycling content has everything to do with offering the same content in the same manner as before. But this is not what the New yorker shows us, e.g. is to have a weekly meeting to create a staff’s pick of the best articles from the past, which are read out loud for the podcast section. What follows is a new subscription addendum for a small extra price. So that’s how you make money!
We cannot mention every model that enriches the New Yorker moneymaking module due to lack of space, but please have a look the cartoon bank that their editor Bob Mankoff created and is reselling cartoons that have been published earlier. The artists are receiving one- to two-third of the price they are sold for. In this model the New Yorker is the curator that has the load of credibility on the required quality level through their brand position, before searching the engine.
With a staff that is so well-informed about the New York agenda it is a short cut to the event-app that they produced years ago. And just before the NYC new film festival will be starting, an interview with a leading star from last years edition, is republished, accompanied by the advertisement for the upcoming event. Ka-ching!
I sincerely hope that that every publisher will have a real good look at the way the New yorker has put together an A-class strategy for content monetization. This can not only make good money for you, but as well revalidate what you produce right now and get your eye on quality again, instead of cheap production. Look what it brought the New Yorker and learn.