The service, Maghound, will launch this coming September. Dave Ventresca, President of Maghound, described his new venture at a conference in Chicago last week:
Maghound.com allows consumers to choose titles from a variety of publishers for a mix-and-match “subscriptions” where they pay one monthly fee and have the ability to switch titles at any time. Unlike traditional subscriptions, members aren’t locked in their memberships and can cancel whenever they wish. Ventresca says that Maghound.com offers “flexibility, choice, control and personalization.”
“There has been this major paradigm shift in the way consumers shop, pay for and manage the services they choose,” Ventresca said. “And this shift has occurred everywhere except for magazines. We still sell on a fixed-term subscription or by single copy with no innovation. And [Maghound] is hoping to change that.”
Early testing shows that the Maghound model is attracting a younger, affluent and educated demographic, the magazine industry's dream consumer.
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