David Carey, president of magazine publisher Hearst Corp, expects the company will have more than 1 million paying digital subscribers by the end of 2012.
“We do expect in 2012 at some point to be able to have more than a million on e-subscriptions,” he said on stage at Reuter’s Global Media Summit Wednesday.
Carey disclosed that nearly 400,000 tablet owners have subscribed to the digital editions of magazines such as Cosmopolitan, Esquire and Good Housekeeping so far. Many of Hearst’s titles are available on the iPad, Nook Color and, more recently, the Kindle Fire. Subscriptions are growing by 10 to 15% per month, he added.
Unlike other magazine publishers such as Conde Nast, Hearst does not offer print subscribers free access to the digital editions of its magazines. Prices vary depending on the device. Esquire, for instance, costs $8.00 per year on the iPad — the same price as print — and $24 per month on the Nook Color. It’s not known to what degree those digital subscriptions are cannibalizing print sales.
He also said the company has been moderately successful in getting iPad subscribers to share their personal information. Between 60 and 65% of iPad subscribers opt to share their data — critical information for its ad sales team. Apple refuses to share subscriber information with publishers.
In other Hearst news, the company announced Wednesday morning it was adding blogger collectives to the sites of many of its titles, beginning with Redbook
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