‘Netflix of Newspapers’ Looks to Ramp Up Growth
A powerful platform that allows readers unlimited access to more than 5,000 premium newspapers and magazines from all over the world has emerged as one of the fastest-growing companies in British Columbia and is now looking towards key international markets for its next phase of growth.
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PressReader, the biggest newspaper and magazine platform in the world, was founded in 1999 as NewspaperDirect and rebranded as PressReader in 2013. It started with a simple idea – software that allowed you to receive a printed copy of your home newspaper when you travelled. PressReader not only survived but thrived, and in many cases led the publishing industry’s shift to digital, building a profitable and successful business with publishers even as other industry giants failed in their efforts to do the same.
The company is now dubbed the ‘Netflix of newspapers’ and has the biggest number of titles of any newspaper and magazine streaming service. It has achieved this by building direct relationships with thousands of publishers worldwide, each of whom distribute their full-version content through PressReader’s platform the moment it goes to print.
With the PressReader app on any device, readers can access thousands of titles without having to register individually with each publication – or pay for content with individual titles. Available titles include the Washington Post, The Guardian, USA Today, Newsweek, Bloomberg Businessweek, Vogue, GQ, and thousands more. PressReader now has more than 30 million users worldwide and reaches some 300 million people through its network of business partners.
“Over the last year we’ve seen enormous growth in our user base and our business partnerships, and we’ve added more than 1,500 titles in the past 12 months alone,” said PressReader’s Chief Commercial Officer Igor Smirnoff.
“What’s exciting about where we are now at PressReader is we’re able to partner with so many different types of organizations: media companies, device manufacturers, governments, travel industry companies, technology companies, publishers, retail and hospitality companies, businesses of all shapes and sizes. We’re constantly amazed by the ideas that come up when we partner with these organizations.”
The Richmond, B.C.-based company is now setting its sights on the next stage of its growth as it prepares to launch partnerships with additional hotel chains, transport companies and major restaurant chains in the UK and Europe in 2016.
PressReader was a part of the B.C. delegation, organized by the Ministry of International Trade, that attended the Mobile World Congress show in Barcelona in February 2016, where the company was able to meet with prospective clients one on one.
The company has also worked with the Ministry of International Trade to facilitate its business development in foreign markets and drive visibility of the platform around the world. It is this visibility that helped the company secure a major partnership deal with China International Book Trading Corporation (CIBTC), a subsidiary of the China International Publishing Group (CIPG). This deal made the largest digital collection of Chinese newspapers and magazines available for the world to read on the PressReader platform.
PressReader is just one of the many thriving companies that make up British Columbia’s vibrant technology sector. Companies located here can take advantage of the wealth of talent, the competitive tax regime and proximity to U.S. technology centres.
The Ministry of International Trade helps investors and buyers work with British Columbia businesses to grow in key markets around the world. We offer contacts and support through a growing network of Trade and Investment Representatives offices, as well as our established services in Vancouver.
Posted on: July 20, 2016