MittMedia, Sweden
A 25% higher price drove 40% revenue growth and an 88% surge in subscriptions.
Challenge
With 28 newspapers and 19 news websites in the middle/north of Sweden, MittMedia is the largest local media group in the country. The group contacted Priceagent in late 2017 while drafting a new strategy for digital advertising and for its digital subscription businesses, as it transitions from print to digital.
Solution & Results
We measured willingness to pay for MittMedia’s digital subscriptions and identified the price to set for maximum total digital revenues (advertising and reader revenue combined). Our price recommendation was actually 25% higher than what the group had originally planned for. We also identified the value drivers to help attract new users and hence start renew the group’s customer base.
Results
Total local digital revenues increased by 40% in the first quarter 2018 compared to the same period the previous year, in particular for digital subscriptions and digital ads. The total number of paying customers has also increased, driven by a spectacular growth of digital subscriptions (+88% from March 2017 to April 2018).
“The whole process was quick and flexible. The report Priceagent provided has proven invaluable to our pricing strategy. The team is responsive and was able to accomodate all our requirements.”
Malin Petré, Digital Revenue Manager, Mittmedia
