13 Tips for Increasing Revenue Through Reprints and Content Licensing
Magazine publishers invest significant time, money and resources into producing quality content, both for print and online publication. However, once it publishes, that content does not necessarily cease to be valuable. Smart publishers also invest in repurposing their content for sale after it publishes, through reprints and licensing agreements, and as a result, can generate a greater return on their initial investment.
Reprint sales and content licensing professionals shared with Publishing Executive the following tips on how to maximize this aspect of your business and generate increased revenue.
Growing Your Reprint Business
1. Be proactive. Many publishers simply respond to reprint requests rather than actively soliciting sales. Instead of assigning reprint responsibilities to an entry-level staff member, as many publishers do, appoint a seasoned, dedicated sales professional who knows your products and will actively sell and follow up on potential customers.
2. Offer bundled reprint packages. While the demand for electronic reprints, or e-prints, has been increasing significantly, they are not replacing traditional reprints, according to several reprint services professionals. Therefore, many publishers are selling reprint packages that offer both print and electronic reprints. “One thing that helps … is bundled packages,” says Dan Fineberg, director of marketing for Lancaster, Pa.-based The YGS Group, a reprint provider to the publishing industry. “We’ll bundle, [for example,] hard-copy reprints with an electronic version and ancillary items, such as plaques or awards.”
3. When selling e-prints, restrict usage. Whereas print quantities are finite, in digital form, content can be distributed to a much larger audience. Reprint services are moving away from “unlocked” PDFs of articles, and are now switching to licensing deals that restrict the number of times a PDF can be posted, distributed and copied.
Brian Kolb, vice president of licensing and global branding for Wright’s Reprints, based in The Woodlands, Texas, says he will work with a customer to figure out what the intended use of a digital reprint will be, what will be contained in the PDF, and on how many URLs the content will appear. “The main variable is the end use—what’s the end-user trying to bring in, in terms of revenue,” he says (for example, what goal does a marketer have for the reprint?). He notes that sites are policed frequently to make sure the licensing agreement has been upheld.