Making Headlines: The Daily Beast Cuts Subscription Costs, Raises Revenue

 

The Daily Beast is in the news for their subscription strategy — and the results they’ve achieved through their membership product, Beast Inside. In addition to using Piano to power the product, launched in 2018, The Daily Beast worked with Piano’s Strategic Services team to develop their strategy and optimize their performance post-launch.

“Over the past 15 months, the price of a Beast Inside membership has dropped 65 percent, to $35 per year or $4.99 per month. That offer is the fourth pricing combination that the Beast has tested since launch, but it delivers the best combination of conversion rate and retention; conversion rates on the $35 offer were five times higher than the rates on the membership’s initial price points of $100 per year or $9.99 per month,” Digiday contributor Max Willens writes (emphasis ours).

That price change helped more than double the number of new subscribers in the following month, with subsequent increases month-after-month since. And Piano optimization continues to drive results.

Find out how The Daily Beast increased its revenue forecasts for Beast Inside — and how they’re “on pace to beat those forecasts in 2019,” according to Daily Beast CEO Heather Dietrick. Read the article now.

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