Magzter, the world’s largest digital magazine newsstand has started a new advertising platform for iOS and Android. Advertisers can now insert interactive advertisements in digital magazines to target potential customers. With this move, Magzter is targeting annual revenue of $100 million from advertising in next three years.
These new advertisements have audio and visual content and are full page adverts that can be interactive for users. Advertisers can choose preferred location, category and language to target adverts so that they have accurate target readers. Given that Magzter has magazines in over 30 categories in over 60 languages and user base in 175 countries, this is going to be a golden goose for advertisers. Advertisers can also add event reminders and location pointers in their advertisement.
“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%.”
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.”