With the increase of smartphones in India, more and more people are consuming news digitally than ever before. Most of them are ready to pay for premium quality news, says the study carried by Google and market analysis firm Kantar
Google-Kantar jointly released the research study-- 'The Indian News Consumer: Willingness to Pay and Key Drivers'-- at the Google News Summit in New Delhi.
It revealed that around 67 per cent of subscribers cited "reliable content" as a primary factor in their decision to subscribe.
It also noted that 'news in the preferred language' is a highly valued content element across various Indian language groups, including Hindi (67 per cent), Bengali (75 per cent), Tamil (63 per cent), and Gujarati (79 per cent).
It also revealed that Kannada and Tamil speakers are relatively more receptive to subscriptions. And, two out of three Hindi speakers prioritize news in their preferred language.
“The Indian digital news market is experiencing dynamic growth, driven by increasing internet penetration and an expanding ecosystem of local language publishers. Understanding the nuances of reader revenue models is crucial for the sustainability and growth of digital news. As part of our on-going efforts to support the news ecosystem, this research provides valuable insights into reader preferences and behaviours, empowering publishers to make informed decisions about their monetization strategies and build stronger connections with their audiences," said Durga Raghunath, Head of India News Partnerships, Google India.
The study also offers insights for news publishers to prioritise transparent pricing, simplification, and flexibility. By offering clear pricing, easy cancellation, and sufficient free trials can build trust, demonstrate value and drive conversions with the readers.
"While users value ad-free experiences, affordability is an important consideration. Consider a hybrid model offering a small subscription fee with limited ads. Invest in robust newsletters to cultivate a loyal audience and provide additional value," the Google-Kantar study noted.
The study noted that most of the Indic language publications are finding it difficult to build a proper subscription model. Google urged the regional news companies to invest in building a dedicated team to develop a user-friendly subscription model with cost-effective pricing to improve their revenue through digital news content.
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