Caixin’s Paid Subscribers Exceed 700,000 Among top 10 in the latest international ranking
In early December, the FIPP (the International Federation of Periodical Publishers) released its 2021 Global Digital Subscription Snapshot, in which Caixin ranked 10th with 700,000 paid subscribers.
As the first media outlet in China to put all of its online news behind a subscription paywall, Caixin has been shortlisted for three consecutive years, becoming the only Chinese media outlet to make the list. On the list, there are also a number of widely respected international media outlets with deep influence in global politics and economy, including The New York Times, The Wall Street Journal, Financial Times and Nikkei.com.
The FIPP is the world's largest newspaper association. Its purpose is to improve all aspects of the media content industry. As one of the most authoritative organizations in the media industry, the depth and professionalism of its reports have been widely noted. According to its latest report, the global periodical, magazine and media content industry are growing faster and faster, with the scale gradually expanding. Media companies around the world are constantly experimenting with and launching new solutions for paid content.
Meanwhile, the total number of subscribers to news and digital media is growing rapidly. Compared with the same period last year, the number of digital subscribers around the world in 2021exceeded 35.8 million, up 14.6%.
At the end of 2017, Caixin started its paid subscription mechanism. Based on the different needs of its readers, Caixin launched its Chinese subscription product Caixin Express, financial data information product Caixin Data Express and English subscription product Caixin Global Subscription Packages. In 2019, Caixin ranked 15th with 300,000 paid subscribers, the only Chinese media to be shortlisted. In 2020, Caixin ranked 10th, with 510,000 paid subscribers.
Hu Shuli, publisher of Caixin Media, said that readers' willingness to pay for high-quality news provided by professional news organizations reflects recognition of their value and trust in their professionalism. It’s the most efficient way to obtain news, and it represents support for newsmakers who consistently pursue high-quality content.
In the past decade, some media outlets in China have adopted paywalls as one of the most effective ways to transform their business models, and have made several attempts. Some media companies, including Southern Weekly, The Beijing News, Sanlian Lifeweek, CBNweekly and Jiemian News, successively lunched paid subscriptions in which readers can pay for selected content. Caixin, on the other hand, charges for all financial news, providing various packages based on different reader needs. The prices vary based on the different coverage.
Caixin's exploration into paid news has been widely supported and recognized by both readers and the industry. Caixin's efforts have been selected as one of the National Innovation Cases of In-depth Integrated Development of Press and Publishing in 2021. The list, released by China Press and Publishing Media Group Co. Ltd. on Oct. 19, aims to showcase the achievements of in-depth integration of news agencies, to play the role of demonstration and leadership of new models, new technologies and new platforms emerging in the process of in-depth integrated development, and to help different organizations in the industry to appreciate and learn from each other.
Meanwhile, Caixin Weekly and Caixin Express were named among the Top 100 Newspaper and Digital Media Brands by China Post in 2021. The list was released by China Post Group on Oct. 27, which is based on real postal distribution data. The evaluation process takes into account issue volume, brand influence, contribution to media integrated development, and other indicators. It aims to promote newspaper brands and enhance their influence on society.
Professor Zhang Lifen of Fudan University’s School of Journalism believes that Caixin, with more than 700,000 paid subscribers, is at the forefront of the media industry’s digital transformation. Caixin is also the only Chinese news outlet on the global paywall list. China’s financial media has a reputation for great credibility and the utmost professionalism. It is a significant part of public resources and national competitiveness, which is helpful to cultivate a good media ecosystem in line with international standards.
This year marks the fourth year since Caixin launched its paid subscription mechanism. Caixin Express and Caixin Data Express Lite are being upgraded, with brand new prices. Those who renew their subscriptions for the two products before the new prices go into effect will still receive the current prices.
Since it was established, Caixin Media has built up a business model of “News + Data,” relying on our professional team and great originality. We cover Chinese and English media, conferences, data and other products at multiple levels, providing accurate, comprehensive and in-depth financial coverage and information services for China's most influential audience. For more information, please visit www.caixin.com
For more information, please contact:
Ms. Ma Ling