Magzter to start selling advertising inside its digital newsstand application
The digital newsstand company Magzter said this week that it will begin selling advertising inside its application and hopes that advertising will eventually account for a majority of its revenue. The company is current supported by the revenue split it gets from paid subscriptions from its magazine, news and book publishing partners.
The move will make the Magzter website and apps more of a destination site.
“We want to become a reading destination like what YouTube is for videos and Google is for search,” Girish Ramdas, CEO of Magzter, told The Economic Times of India.
Magzter is based in Chennai, India and New York City. Magzter launched its first digital newsstand app for Apple’s iOS platform in 2011 and added retina support for the iPad in April of 2012. In July, an update allowed for the support of HTML5 interactive magazine pages.
Like its counterpart Zinio, Magzter is looking to grow revenue in a tough environment where all the major platform owners – Apple, Google, Amazon – maintain their own digital newsstands.