Chief executive Nick Hugh announces the media group’s business strategy for the next four and a half years.
The Telegraph’s ‘10-1-23’ vision underlines the newsbrand’s commitment to achieving its target of 1 million paying subscribers from a pool of 10 million registered users by the end of 2023. This will allow the paper to become “financially sustainable” in the future – even without advertising income.
In an effort to drive revenue, the paper has put certain parts of its website behind a paywall and designated it as premium content, which costs £2 per week. The superior version – that includes the digital version of the paper – costs £6 per week.
Nick Hugh, chief executive of Telegraph Media Group said: “If you get to 1 million subscribers and your ARPU (average revenue per user) is healthy enough – you have to expect it to be comfortably in triple figures – then you almost entirely replace what you used to have in the past.”
Hugh added: “If you get to that point then, even if there weren’t any of the other revenue streams, you are in a good spot.”
This latest news comes after the paper achieved its goal of 3 million registered users, ahead of schedule.
Source: The Drum