The Spinoff last week sent up a distress flare whose red glare lit up not only a ship in peril but sent a clear message that seaworthiness cannot be judged on popularity.
In an open letter on its platform, The Spinoff’s founder, chief executive, and editor stated that the gap between the number of people who enjoy what The Spinoff does, and the number prepared to pay for it, was too large. The letter followed the worst monthly financial decline in its 10-year history, with the platform later revealing its revenue was down by a third in September.
The organisation founded by Duncan Greive appeals to a uniquely wide audience – from Gen-zers to Baby Boomers whose cultural interests are not frozen in the 60s. Its financial situation, however, has forced it to make significant staff cuts, freeze all freelance editorial commissions, put two of its newsletters to sleep, and even pause its popular Friday Poem.
The letter made a plea for donations, and mirrored what New Zealand Geographic publisher James Frankham did a few weeks ago. There was, however, one significant difference: Frankham was soliciting subscriptions while The Spinoff asked for donations.
And last weekend James Frankham told supporters that his magazine is now less than 500 away from reaching its sustainability target of 10,000 subscribers (if you haven’t done so already, put your hand in your pocket).
Subscriptions seek an ongoing commitment and can be either habit-forming or self-renewing. They have a certainty that extends beyond donations, through which a donor can feel they have ‘done their bit’ with a one-off few dollars.
I can understand The Spinoff’s reluctance to go down a paywalled path. A sizeable proportion of its audience have never paid for news and don’t see why they should start now. Their view – and their experience – is that subscriptions are for movies and other forms of entertainment.
To paywall The Spinoff would therefore come at considerable risk. However, it may well be time for Duncan Greive to open a conversation on the matter with his audience. He and his management team have been open with the public on their financial plight and their call for support. Unless an avalanche of money comes their way through donations, they should poll their users on the question of a paywall. While I sincerely hope it doesn’t come to this, it could be a simple choice: Paywall or nothing Continue reading “Spinoff distress flare signals all in peril on media sea”
