Thank goodness for Fridays with Friday Five, your go-to for the latest industry news and trends! Today, we’re chatting about The Washington Post’s non-endorsement backlash, a 2024 revival in print, legal challenges surrounding the FTC’s “Click-to-Cancel” rule, winning paywall strategies at the Boston Globe, and new benefits for NYT Games subscribers that are sure to keep them playing.
Jeff Bezos defends blocking Washington Post from endorsing a candidate—'complaining is not a strategy’
After owner Jeff Bezos blocked the Washington Post’s endorsement of Vice President Kamala Harris, the Post faced a wave of backlash, including over 200,000 subscription cancellations and high-profile resignations. This move breaks a long-standing tradition of endorsing presidential candidates. While Bezos defends it as a commitment to editorial independence, he also admits that the decision was inadequately planned. Read more on Fortune.
Print Magazines have a revival in 2024 with high-end readers
This year, print magazines are seeing a resurgence driven by high-end readers who value print’s quality, exclusivity, and immersive reading experience compared to digital media. In response, publishers are emphasizing luxury, in-depth storytelling, and nostalgia. This shift reflects a trend among readers who appreciate print as a break from the fast-paced digital landscape, enjoying it as a medium for thoughtful, curated content. Read more on Bloomberg.
New FTC subscription cancellation rule under fire from business groups
The Federal Trade Commission’s (FTC) new “Click to Cancel” rule mandates that companies with subscription services simplify cancellation processes and increase transparency, addressing consumer frustrations with misleading or difficult cancellation procedures. Set to take effect within 180 days, the rule has prompted lawsuits from industry groups representing cable, advertising, and security sectors, which argue that it is overly strict and burdensome. Read more on USA Today.
The key decisions that saved the Boston Globe
Chief commercial officer Kayvan Salmanpour outlines several strategies that have helped the Boston Globe avoid financial struggles, emphasizing a transition to a reader-revenue model, premium paywall, and six-month trial subscriptions as keys to their success. Though they had anticipated losing up to 40% of subscribers with these moves, they only saw 3%, underscoring the approach’s effectiveness. Read more on PressGazette.
NYT introduces Connections archive to Games Subscribers
The New York Times (NYT) game “Connections” is a free, daily word puzzle where players identify the “connection” among four sets of four words each. Now, as a new perk for Games subscribers, NYT offers access to an archive of over 450 puzzles, with progress tracking and performance stats. Currently available on mobile and desktop, the archive will soon be accessible on the NYT Games app as well. They hope this move will create a more engaging experience for subscribers and enhance brand value. Read more on InPublishing.