Mumbai, Maharashtra, India
Magzter targets $100 million in the next 3 years globally
Magzter also announces ad strategic partnership with SPH Magazines, Singapore
Magzter, the world’s largest digital magazine newsstand today launched a new advertising platform in its iOS and Android mobile apps. Magzter has over 7,700 magazines and over 28.5 million users around the world. In what could be called as a pioneering and innovative move, Magzter now enables advertisers to reach out to millions of potential customers by showcasing interactive advertisements inside the most sought after digital magazines. Magzter also announced its strategic tie-up with SPH, Singapore for this advertising business and SPH will be representing Magzter for Singapore and South East Asia.. SPH Singapore is among world’s leading publishers and No. 1 in Singapore. With over 1800 Indian publications from all leading publishing houses on Magzter, this would be a lucrative opportunity for publishing houses to monetise their online assets further. Globally, Magzter is targeting an annual revenue of $ 100 million from advertising within next three years.
Unlike normal banner advertisements that are displayed on websites, interactive advertisements can have audio-visual content in them and they can have many other interactions apart from taking the user to advertiser’s landing page. The ads are full page swipeable advertisements and non intrusive to users and continues to give best magazine reading experience. An interactive advertisement could range from playing a video to adding a floating element to it. Other exciting ways to create interactive advertisements include the usage of swipe interactions, event reminders and location pointers. Even mini games can be inserted as advertisements in between the pages of best-selling magazines. Currently, Magzter is offering full-page interactive HTML5 advertisements to ensure that the advertisements are responsive and automatically fit across all iOS and Android devices.
“At Magzter, we are extremely happy to introduce interactive advertisements in our Apple and Android apps. This is the first time anywhere in the World such ads are being made available inside digital magazines. The digital advertising industry still has a lot of untapped potential and the arrival of immersive and contextual advertisements on Magzter inside digital magazines is a definitive step in raising the bar. We are hoping to receive tremendous response from advertisers all over the World” – Girish Ramdas, CEO, Magzter Inc.
“This will revolutionize the digital advertising industry soon.” says Vijay Radhakrishnan, Co-founder and President, Magzter Inc.. Explaining further, he mentioned, “As our interactive advertisements appear in between the pages of a magazine, readers are most likely to get influenced by them since the advertisements are carefully chosen based on the location of the user and the category of the magazine. For instance, when a young woman is reading a fashion magazine on Magzter and she comes across an interactive advertisement to purchase a product she likes from the magazine, she is expected to go for it. Click throughs of our ad inventory is anywhere between 15-30% . This is way high than standard CTR on the Web which would be less than 1%.”
The advertisers can choose their preferred location, category and language to target their ads, so that they can extend their reach to the niche group of readers. This not only gives them the freedom to choose even a small region where they need more visibility, but also gives them the power to make a bigger impact within a controlled budget. With Magzter having magazines across over 30 categories in over 60 languages and users from over 175 countries, the advertisers can choose the magazines and locations that best suit their needs.
Joseph Lee, Managing Director, SPH Magazines explained further, “Our advertising partnership with Magzter is a significant move for us as advertising revenue is a key driver for our growth. We are also excited to represent Magzter in Singapore region to get advertisers onboard. Magzter has developed an excellent advertising platform for digital magazines and we were privileged to use it for the last 3 months. The results are extremely encouraging and our advertisers are very excited to see their interactive ads on our magazines. We have many of our titles playing ads through Magzter’s ad system.”