Industry News
NEWS AND UPDATES FROM THE MEDIA INDUSTRY
Should Non-Compete Clauses Be Banned?
The Federal Trade Commission (FTC) has proposed a rule prohibiting non-compete clauses. If enacted, U.S. workers would have more choice about what jobs – and salaries – they accept. They could more easily take positions aligning with their current skills, work for rival companies, or start their own companies with less fear of being sued by former employers.
The FTC estimates the proposed rule could increase wages by $300 billion a year and impact 30 million Americans. It’s believed that as many as 50 percent of people in high-skilled and high-tech jobs have non-compete clauses in their contracts. The proposed changes are supported by consumer and labor groups – and opposed by organizations representing business interests, including the U.S. Chamber of Commerce, which argue that noncompete clauses protect investment in employees and sensitive business information. Read more of the Vox story here.
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Are longer promotional periods for new subscriptions short-sighted?
Many publishers offered aggressive Cyber Monday promotional deals, betting that months of low-cost or essentially free subscriptions will convert down the road. But longer promotional periods may also make it difficult to accurately predict how many new subscribers will stay when promotional offers expire -- and what price they’ll be willing to pay. Among the findings in a Toolkits survey of the 100 most popular subscription sites for U.S. consumers:
- The average promotional period offered to new subscribers on November 28 (Cyber Monday) was 165 days, 14% longer than the 145-day average offered on November 10.
- The average subscription price available to new subscribers dipped 17% on Cyber Monday to reach $0.079 per day.
- On Cyber Monday, 48% of publishers offered new subscriptions of various lengths for a commitment of $1 or less.
Read the complete Toolkits story here.
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A Surprise Rise in News Subscriptions
Contrary to widely held expectations, the boom in subscriptions to local news publications in the U.S. during the height of the pandemic hasn't abated, according to the Medill Subscriber Engagement Index. Despite many COVID-related restrictions ending and inflation impacting consumer spending, subscriptions have continued to rise at small, medium, and large newspapers even though page views and unique visitors to local news sites have declined. Industry experts say digital marketing is key to acquiring new subscribers, but caution that retaining them requires providing differentiated and curated content.
Go here to read more of the Medill findings.
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