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Digitization Of Content –Where Is Publishing Heading?
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Tuesday, December 04, 2012:
According to a recent Harris Interactive poll, one in six Americans now uses an e-reader, and that number will grow as consumers become more comfortable with the use of technology. With the availability and growth in the number of ipads, iphones, tablets and other devices there has been an exponential rise in the digitization of content with successful authors by-passing traditional publishing and updating their content online. Since Millennials have grown up with new media and personal electronic devices like e-readers and tablets, they are highly drawn towards digital reading.
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The digital magazine publishing industry globally is estimated to be worth $150 billion with a lot of opportunities for technology providers. Post 2009, when ipads, iphones, tablets and other similar devices swarmed the market the duo, Mr. Vijayakumar Radhakrishnan and Mr. Girish Ramdas saw an opportunity to do something over and above the edge in the digital magazine industry. They launched their entrepreneurial baby – Magzter, a digital magazine store with an aim to make digital magazines accessible for magazine lovers globally across multiple platforms and also provide the publishers a gateway to reach out to a global audience.
Since last Thursday, Magzter has overtaken international favorites and long standing grossers like Angry Birds, NY Times for iPad, Clash of Clans, Frontline Commando, Quick Office Pro HD, Paradise Cove, FIFA 13, Need for Speed, Temple Run, Documents To Go, Poker by Zynga and Zinio by bringing its total number of global users to 4.5 million!
It is said to be the first Indian app to rank # 1 in the grossers list on the Apple App Store. Even in the number of daily downloads; Magzter has crossed other reading apps like Flipboard, Pulse, Zite and others. Magzter’s more recent inclusion is its presence on the Windows 8 App Store.
Magzter is a simple revenue sharing model which is based on cloud and has globally signed up with 1000+ magazines. It has a wide user base of 4 million subscribers and readers with an average of 1000 new users every day. It is estimated that more than 95% of readers worldwide are still reading on print, which essentially means that there is a huge market to tap and convert into e-reading. The rise in the number of smartphones, tablets, ipads and other such devices, and the increasing use of 3G has proved as a boon to Magzter.
In India, e-reading is still at a very nascent stage, however it is believed to take off in the upcoming years. Out of the 4 million users of Magzter, about 7 lakh users are from India and it is predicted that India will play a huge role in the digital magazine industry.
In order to gain a deeper perspective about the future of publishing and the digital revolution which Magzter aims to bring about, I would like to connect you with Mr. Girish Ramdas and Mr. Vijayakumar Radhakrishnan. They would be available to share their views on the following talk points:-
· The growing popularity of e—reading
· The rise in the number platforms available for digital reading
· The perspective of publishers and readers about digitization of content
· The future of publishing
· The journey of Magzter
· The latest corporate developments of Magzter
· The milestones achieved and the way forward
· Future expansion plans
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