As a small independent publisher, this has been achieved on limited resources.
VRL Financial News was launched in 1993 with Leasing Life, a newsletter for the UK leasing sector. It grew into an international subscription-based business, and expanded into conferences and research reports. Now backed by VCTs, it has developed into an online information services business with 90%+ retention rates on its multi-seat licences, selling research reports to over 1000 customers in global financial services.
Andy Cook, Group Publisher, explains how VRL has moved from providing news and gossip in print to offering analysis and data online. Its readers and subscribers are senior managers in financial institutions, and VRL aims to help make their jobs easier; providing databases that can generate charts for internal presentations, directories & databases, and insight through industry interviews and analysis. The business model has shifted from individual subscriptions to multi-user company site licences at £30-40kpa.
VRL employs journalists in the UK to write industry interviews, analyse data and create analysis and reports. It outsources data compilation and directories to India. Care is taken to repurpose content wherever possible, for example topics discussed at round table events are compiled into research reports.
The focus on site licences has reduced VRL’s reliance on advertising revenue, although corporate advertisers are increasingly interested in sponsorship of round tables and other face to face events.
Andy Cook is taking part in a session on B2B media pioneers at the Specialist Media Show Conference on 25 May 2011, and delegates will have the opportunity to ask their own questions.
Could you be the next Media Pioneer? Contact me to nominate your innovative publishing business.
The Media Pioneer Awards were established by the organisers of the Specialist Media Show to celebrate innovative and entrepreneurial activity from specialist media across print, digital and events. Winners will be announced at the Specialist Media Show on 25 May 2011. Online registration has now opened; book your free place here.
