In recent years, The Economist, a leading global news and analysis outlet, has increasingly leaned into audio content to diversify its offerings. A significant part of this initiative is Economist Podcasts+, a subscription-based podcast service launched in late 2023. The service is designed to complement The Economist‘s traditional editorial content while economistplus.com more in-depth, exclusive audio experiences for subscribers. Here’s a closer look at EconomistPlus, its offerings, and its strategic goals.
The Rise of Economist Podcasts+
Economist Podcasts+ is an ambitious effort to expand The Economist’s reach in the rapidly growing podcasting industry. Podcasts have become an essential medium for delivering content to global audiences, with The Economist tapping into this trend by providing exclusive and extended content through the new service. The podcast service debuted in late 2023, priced at $4.90 per month or $49 per year, and offers premium audio content to its listeners【20†source】【21†source】.
Existing The Economist digital subscribers get complimentary access to Economist Podcasts+, adding value to their current subscriptions. This move is part of the publication’s broader strategy to increase the quantity and diversity of content available to its paying audience. Notably, podcasts are fast becoming one of the most successful platforms for The Economist, with its podcast audience having doubled in just three years to 5 million unique monthly listeners【20†source】.
Exclusive Shows and Content
One of the standout features of Economist Podcasts+ is its exclusive shows. The service includes Boss Class, a limited series hosted by Andrew Palmer that dives into the future of management, featuring interviews with CEOs, anthropologists, and other business experts. The service also includes The Weekend Intelligence, a weekend edition of the weekday podcast The Intelligence, providing deeper reporting and storytelling for those who want more of the week’s major topics【21†source】.
The platform’s content aims to align with The Economist‘s editorial strengths—global news, business, and cultural analysis—while offering a fresh, more immersive way of consuming these topics. The unique podcasts are intended to engage listeners who may not necessarily want the full Economist subscription but are looking for in-depth content through audio【21†source】.
Part of a Larger Strategy
The launch of Economist Podcasts+ fits into The Economist‘s larger subscription strategy, which has traditionally focused on paid content. While some of the company’s podcasts remain free, the decision to move others behind a paywall signals an evolution in how media outlets monetize their content. This is part of a broader trend in the publishing industry where podcasts are increasingly seen as a premium offering.
As The Economist‘s global audience shifts toward younger and more diverse demographics, podcasts have become an invaluable tool for attracting these new listeners. Podcast consumers tend to be younger, with a higher percentage of female listeners compared to the magazine’s traditional audience. By expanding its podcast offerings, The Economist aims to broaden its customer base, reaching listeners who may not have been interested in its traditional subscription model【20†source】【21†source】.
Additionally, Economist Podcasts+ offers a way to bolster the company’s digital subscription model. While the service is available as a standalone product, it is also marketed as an enhancement for existing subscribers, who gain access to exclusive audio content without any extra cost. This aligns with the broader strategy of enhancing value for subscribers, a model that has proven successful with other Economist products like newsletters and subscriber-only events【21†source】.
The Impact of Paid Podcasts
Paid podcasts are still relatively rare, and The Economist’s move to introduce a subscription-based podcast service has garnered attention across the media industry. The company’s approach allows listeners to pay directly for podcasts without being forced to use third-party platforms like Spotify or Apple. This offers a seamless experience for users who can listen on their preferred platforms, ensuring that the customer experience is not disrupted【21†source】.
The strategy also allows The Economist to further solidify its position as a leader in the paid journalism space. This is particularly important as the media industry moves away from reliance on ad revenue and toward a more direct relationship with its paying audience. The ultimate goal is not only to grow paid podcast subscriptions but also to attract new subscribers to the core Economist brand【21†source】.
Looking Ahead: The Future of Economist Podcasts+
As the subscription-based podcasting model evolves, The Economist is keeping a close eye on the success of Economist Podcasts+. The company is also integrating free, promotional content from its premium shows into its daily flagship podcast, The Intelligence, to entice listeners to explore the paid offerings. The long-term success of Economist Podcasts+ will not solely be measured by paid subscribers but by how it helps grow the overall audience base, particularly by reaching new groups that the company has struggled to engage in the past【21†source】.
In conclusion, Economist Podcasts+ is an exciting development in the landscape of paid digital media. By expanding its reach into the podcasting space, The Economist is offering its audience a new way to engage with its rich journalistic content while ensuring that it remains at the forefront of the subscription-based media model. The service’s success will be a key test of how traditional publishers can diversify their offerings and create sustainable revenue streams in the age of digital content.
