Priceline.com and M2 Media Group to Partner on “Name Your Own Price” Magazine Service
M2 Media Group, a Stamford, Conn.-based magazine subscription agency, announced an exclusive relationship with Priceline.com to offer paid magazine subscriptions using Priceline.com’s Name Your Own Price trademark. The online service will be called MyPrice Magazines (www.MyPriceMagazines.com) and should launch in time for the 2006 holiday season. The service will enable consumers to bid on magazine subscriptions similar to how buyers purchase airline tickets and hotels on Priceline.com.
“Consumers are always looking for a good deal,” says Michael Frank, president of M2 Media Group. “MyPrice offers an appealing way to buy magazines at great prices from a trusted source. The model of MyPrice Magazines is unique to publishing and different from other major magazine subscription services. Moreover, it offers an attractive option for publishers as they continue to look for alternative means to sell subscriptions. Our controlled environment allows publishers to price test without discounting to the general public.”
“The industry has been waiting for a program that truly harnesses the power of the Internet to sell subscriptions,” says Charles Mast, consumer marketing director for Dennis Publishing, which will have its titles available through the new service. “This is an innovative idea that you can envision evolving into a significant source of paid subscriptions.”