Will online magazine subscriptions save publishers?

The publishing industry has hit a 'perfect storm' of declining circulations, free online classifieds and ravaged share values as the internet radically transforms the media landscape. Many magazines and newspapers worldwide are frantically struggling to survive by testing various payment models.

With perhaps the exception of Le Monde, which has successfully trialled a free-to-view website but with all articles rapidly archived in a paid-for library, no publisher has really managed to get the formula right.

With investors getting twitchy and publishers share values down nearly 80% over the last year, the scramble for a sustainable model is reaching fever pitch.

Yet, whilst publishers stare down the barrel of a gun, many are losing sight of just what an enviable they are in. Yes, their titles might be losing money but their brands are still held in great esteem and are often the first port of call for web surfers looking for trusted content.

Even better, whilst hard print sales might be down, online traffic is soaring. The Mail online, the UK's most popular newspaper website attracted nearly 30 million unique users in July alone. The Mail is not alone with the Guardian and Telegraph achieving similar figures.

And here's the rub. Nearly 70% of the Mail online's traffic originates overseas. In fact nearly half of the Evening Standard's online audience comes from abroad. What were previously UK titles have now become established global brands with terrific worldwide reach.

The big question is how to monetise content and harness publishers' global appeal? With the advertising model clearly a busted flush – the Guardian's Carolyn McCall simply states that "an over-supply of inventory has decimated yields" – only online subscriptions can now save magazines and newspapers.

And this is where it gets interesting. Online page-turning magazines (digital editions/ebooks) are able to replicate the printed versions yet offer an enhanced user experience through the use of embedded rich media, subscriptions clubs and live forums and even offline viewing via downloads.

Even better, using global currency converters, digital editions now offer payment options from a single issue to multiple issues on a worldwide basis.

Like all crisis points, solutions are at hand that whilst currently hidden will become clearly visible a few years down the road. YUDU Media firmly believes that offering a paid-for subscription model using digital editions will be the way forward for many titles and that their global appeal and reach could usher in a new era of enhanced profitability.