How did Magzter grow to become a global platform for print magazines? Co-founder & President Vijayakumar Radhakrishnan describes the journey.
How did Magzter come about?
Mr. Girish Ramdas, CEO and Co-founder of Magzter and I, have had a wide range of experience from running an IT services company to managing a media company which also had a print magazine. In 2009, when the tablet and smartphone industry was booming complimented by mobile app eco-system, we saw an opportunity to bring our print magazine to the digital world especially on tablets and smartphones. So we launched a mobile app for our print magazine "Galatta Cinema" and soon realised the opportunity to share Indian content with the world and to make content sales borderless.
During this process, we understood the enormous efforts that we are putting in to take our magazine to the digital world and came up with an idea of creating a global platform which can be used by all magazine publishers across the globe to publish digital magazines and start monetising the content without any financial investment. This entire concept drove us to launch Magzter and we spent 18 months developing our product.
How did you make it grow to become a global platform?
The core business objective of Magzter is to sell content to global consumers. Another interesting fact is that most magazine readers read magazines from various geographies based on the content, genre and interest. So making international content and local content available through Magzter is very important as customers are constantly looking for variety in content. Also, we have always had the vision of building a product for the global audience rather than just making it available to certain geographies. Magzter is the ideal product to fulfill their dream.
What is the current popularity level of Magzter?
Today Magzter is the #1 choice for many magazine publishers in various geographies. If you take geographies like India, Singapore, Malaysia, Thailand and other Asian countries and also countries like South Africa, Magzter has the biggest market share and is working with all the top publishers in those regions to provide them with end to end digital solutions. In countries like US/UK and Europe, Magzter is the preferred Newsstand for more of the top publishers as we provide the publishing companies with real time sales report, customer contact information etc which is very unique to Magzter.
How popular is your app in the Asia Pacific region?
We are the top grossing app in many countries in APAC on the Apple store and this shows how popular we are in the region. We have established Magzter as a trusted digital partner and will continue to innovate many new technology tools to help magazine companies transform to the needs of new age content consumption.
How do you plan to take it to the next level globally?
Magzter has a significant market share globally and with the technology offerings, robust business model and more than 11 million app downloads within 24 months, we are very confident of making a significant impact in the digital publishing industry. We are extremely publisher friendly and value our publishers' feedback. We always look forward to releasing new versions of our product which helps us stay ahead and positions us as the most preferred digital solutions partner and 1 newsstand.
Do you have any specific plans for the Asia Pacific region?
For APAC, we want to transform the way the content is getting published digitally. We have publishers who are publishing through us the print version of their magazines. Our objective is to help them build interactive content through our platform without the need to invest money but just time. This will change the way the content is created, published and consumed.
Also from consumer standpoint, more awareness will be built towards digital reading. Magzter will take all efforts to create consumer awareness by working with various tablet and phone manufacturers and bring content through them to reach consumers.v