LONDON 4th February 2015
Some bright news for the publishing industry has been revealed today as digital publishing experts Exact Editions have unveiled record growth figures for institutional sales on the platform.
The Exact Editions model specialises in offering IP authenticated access to the web and app editions of magazines and newspapers, to a variety of organisations, including universities, libraries, businesses, and government departments. Such a subscription gives an entire network of users access to the web and app edition of a publication, as well as a fully searchable archive.
Institutional subscriptions offer significant benefits to publishers with each subscription priced at a premium compared to a standard individual subscription, due to the additional technical capabilities and the wider audience reached. With reliable high renewal rate of such subscriptions, publishers can count on a high and reliable source of revenue at little extra cost to themselves.
In the year up to 31st December 2014, the number of Exact Editions sales to institutions rose by 48% when compared with the previous year. Combine this with the revenue from such subscriptions increasing by 78% and an increasingly rosy picture becomes apparent for publishers selling to institutions on the Exact Editions platform.
Not only did the number of Exact Editions institutional sales increase in 2014 compared with 2013, but the value of each subscription also grown significantly. Exact Editions has moved to a tiered pricing structure so that the subscriptions are cheaper for small colleges and scaled for larger universities, this flexible pricing is fairer and matches market needs. The increase in value of each subscription demonstrates the high number of large universities that take out institutional subscriptions.
With all of this information, a picture of increased sales, more revenue, higher value sales, and high renewal rates becomes quickly apparent. This may be just the tonic that the publishing industry needs to beat the winter blues.
Daryl Rayner, Managing Director of Exact Editions:
“Exact Editions are extremely proud of the strong performance of out institutional subscriptions service. This provides a valuable service to universities and businesses, while offering a lucrative revenue stream for our publishing partners.”