Readbug – a subscription-based content innovation – has launched on Seedrs, helping print media become more accessible to everyone with a mobile device.
“Today’s readers want accessibility, immediacy and convenience, [but] print publishing has struggled to deliver against new and emerging digital platforms,” the company said on Seedrs. “The problem isn’t the content, it’s the delivery method.”
It has suggested the answer to this is offering consumers high quality, specially optimised content from some of the world’s leading publishers in a format suited for mobile devices.
“Our members can read the absolute best in fashion, music, film, travel and lifestyle from the likes of Dazed, Sight & Sound, Huck, Oh Comely and many more,” Readbug continued.
“Users can flick from cover-to-cover, select their favourite titles, scroll through their personalised article stream, share stories and read the best magazines wherever they want, however you want for a monthly subscription.”
Users of the app don’t have to pay a per-download fee, nor do they have to pay every time they want to read just one article from a magazine or newspaper. With Readbug, they pay a monthly fee that gives them access to thousands of articles they can choose based on their interests.
Other products such as Spotify have proven that subscription-based, all-you-can-eat models work and are attractive to consumers, making this an obvious way to get more people reading content that is only usually available to people buying physical publications.
The Readbug app will be available on Apple devices, with more than 60 publishers behind the idea. It has also sealed a number of commercial partnership deals with The Hospital Club and five universities around the country.
Readbug is appealing for £500,016 on Seedrs in exchange for 12.5 per cent equity. It hopes to spend the money on operations, developing the product, marketing, overheads and contingencies.
“During the next 12 months we plan on refining our marketing and growth strategy and gaining critical user traction. We plan to onboard a minimum of 100 publishers, expanding our library of titles,” Readbug finished.
