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On Tuesday, five major publishers joined forces to develop open standards for a new digital storefront and other technologies that will allow consumers to read content on portable digital devices.
Conde Nast, Hearst, Meredith, News Corp., and Time want a reading application that can render the distinct look and feel of each publication. They also want a publishing platform optimized for multiple portable devices, operating systems and screen sizes, a digital magazine store, and advertising opportunities. “For the consumer, this digital initiative will provide access to an extraordinary selection of engaging content products, all customized for easy download on the device of their choice, including smartphones, e-readers and laptops,” said John Squires, the venture’s interim managing director. “Once purchased, this content will be unlocked for consumers to enjoy anywhere, anytime on any platform.” 360-Degree Benefits? The publishing partners have an audience of 144.6 million, according to Mediamark Research & Intelligence. Although the five publishing powerhouses are launching the venture, the group welcomes other publishers to get involved.
Much like the print magazine world, publishers will drive revenue from content sales, print subscriptions, and advertising fees. The yet-unnamed consortium pointed to clear benefits for advertisers and publishers. The venture, they said, will offer a cost-efficient, consumer-focused environment. Once the digital storefront launches, the group said, advertisers can leverage new ad formats that work with the planned interactive medium.
Beyond newspapers and magazines, publishers can also sell content from books, comic books, blogs and other media. The publisher group also noted benefits for the hardware, software and retail industries. The initiative, it said, will provide potential new revenue streams through an organized library of content with a common format and technical specifications. No Overnight iTunes It appears that the print behemoths are looking for new ways to cash in on the digital age amid declining print advertising sales. One…
Read more from the original source: Major Publishers Plan Digital Content Store for E-Readers
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