To remain transparent about our experiment in reader-supported web-journalism (subscribe [tinypass_offer text=”here”]!), here’s a graph from the last two months, once the meter was in place, and the original flood of subscriptions subsided from long-time Dishheads. What does it tell us?
The “conversion rate” in blue is defined as the number of sold subs divided by the number of unique viewers in any given week. The “user reach” in red is simply the number of unique readers who encounter our meter message asking them to subscribe to continue full access to the Dish.
You can see that the number of readers hitting the meter is pretty consistent, once it kicked in (March, basically) without the early distortion of the numbers by the flood of early start-up money. And the percentage of those deciding to sign up has varied from 1.6 percent to 3.8 percent since then. The average since March 10 has been 2.8 percent – a little higher than the industry average. The bumps may have been driven by news events. The second bump was right around our 24/7 coverage of the Boston bombings.
Weekly sales for the last ten weeks look like this:
The sharp drop at the end if just a function of this being Monday, the first of a new week. That’s an average of over $6,000 a week overall. In the second half, this has stabilized to around $4,000 a week. We have no idea if this will continue, but the numbers now seem to be going up and down a little within the same ballpark. If it does continue exactly like this, we should reach a final gross revenue total of around $800,000. If it fades, think more like $750,000. There are now 23,000 or so readers who have used up their read-ons. If you’re one of them, you could instantly nearly double the subscription numbers for this blog for just [tinypass_offer text=”$1.99 a month or $19.99 a year”].
Subscribe [tinypass_offer text=”here”]! And make it happen!