Consumers become more and more open to all types of digital subscriptions, as the transformation of the media industry continues. This is clear also when it comes to subscriptions of digital text services for newspapers, magazines and books. However, this market is still more fragmented in comparison with audio and video streaming. Global brands are not as dominant, which might very well be good news for several of the local media companies.
In Sweden, the digital audio pay market currently has a 61% household penetration and video a 49% penetration, as pointed at earlier (newsletter November 7). This is significantly higher than the digital text pay market with 27% household penetration. And noteworthy; the absence of global actors likely gives local media companies a better potential, at least compared to the video market.
Looking at the Nordics as a total, digital streaming subscriptions of audio and video combined reached an aggregated household penetration of close to 70% (fall 2018).
Last week, Swedish actor Readly, a digital magazine subscription service, entered the Dutch market as its eighth territory. In Sweden, Readly is the largest digital magazine service, while being among the top three digital text subscription services. Readly attains a 16% market share in Sweden during the third quarter of 2018, which equals roughly 150’ subscribers. The single actor with the largest market share in the digital text segment is Aftonbladet Plus.
Digital text subscription services market shares in Sweden Q3 2018 (%)
The major newspapers in Sweden (e.g. DN, SvD, GP) still rely on a majority of subscribers to the paper editions. This indicates a significant growth potential for digital text subscriptions. Interesting times are ahead.
Mediavision closely follows the digital transformation of the media industry all through the Nordics. An updated in-depth analysis of the Nordic video market is available, read more here.
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*Events where Mediavision will be presenting