Digital monetization strategies with live coverage
As a live-blogging software that enables journalists and reporters to cover breaking news in real time, a substantial part of Live Center is how the tool supports news outlets’ monetization strategies. Here is how newspapers can explore digital monetization strategies through live coverage.
1. Advertisement
Live feeds, which are continuously updated with real-time information on breaking news or event coverage, are a dynamic way to engage readers.
Placing in-feed ads offer the following benefits:
- Increased revenue on the back of an engaged audience drawn to real-time content
- Place targeted ads that match the relevance of your live blog (housing or banking ads on financial live blogs, sport ads on sport live blogs, and so on).
Target advertisement example in a sports live blog.
2. Affiliate revenue
Retailers can partner with news sites with the aim to reach a wider audience for the deals they want to promote. This could take shape of a live coverage of seasonal or e-commerce deals, like The Verge does with Amazon Prime Day, in which news outlets can drive traffic to, and gain significant affiliate revenue from curated live blogs.
Other publishers such as GQ and Vogue go one step further and offer a dedicated space with “recommendations” and a marketplace for readers to shop items, which results in “50% of GQ’s audience engage[ing] with content on GQ Recommends” (source: INMA)
Preview of The Verge (left) and GQ (right)
3. Betting
With the rise of sports betting, news outlets can capitalize on real-time live sports coverage by integrating their live blog with data providers of betting odds. The seamless integration allows to display odds and informed predictions alongside live commentary. This not only enhances readers’ dwelling time on the page, but also drives traffic to betting sites, generating affiliate revenue.
4. Driving registration
Live blogs as a freemium model have proven to be highly effective in attracting a broader audience and encouraging them to register to participate in two-way dialogues. Features like live Q&As, polls, and comment sections allow readers to participate directly in the content or to ask questions to journalists. This interactivity fosters a sense of community and belonging, which can motivate readers to register to fully engage with the content.
“We don’t simply want to tell readers facts about what is happening, we want to nurture a conversation with them, and explain to them why this story is important and how it affects them. We do this in several ways across all of our platforms, and Live Center serves as our most direct communication channel with our readers.” – La Presse
5. Subscriptions
More than just a tool to deliver real-time updates, live blogs are a strategic asset for introducing readers to in-depth content. While some publishers add links to podcasts or to gated articles in the live feeds, others prompt their audience to take action and download their app. Here are some examples of how Sky and The NZ Herald insert call-to-actions within or around their live blog feeds.
Live coverage offers a dynamic way to engage readers and opens up numerous avenues for monetization. From affiliate revenue and targeted advertisements to audience engagement and subscription conversion, there are multiple ways to leverage live blogs and continuously refine reader conversion and revenue strategies.
Want to explore this further? Get in touch with our experts today for a demo of Live Center!