Facebook's France Subscription Accelerator program, designed to boost digital subscriptions, has helped French and Belgian media outlets generate more than 8.5 million euros ($10 million) in customer lifetime value from March to early fall, the company said in a statement on Thursday
MOSCOW (Pakistan Point News / Sputnik - 03rd December, 2020) Facebook's France Subscription Accelerator program, designed to boost digital subscriptions, has helped French and Belgian media outlets generate more than 8.5 million Euros ($10 million) in customer lifetime value from March to early fall, the company said in a statement on Thursday.
CLV is a measure designed to predict a total sum of money that a customer is expected to spend on certain goods during their projected lifetime. According to Facebook, the training of 11 regional daily press publishers, including 10 French outlets and one Belgian publication, had lasted for three months before they embarked on implementing a nine-month grant initiative since March, a period of the coronavirus challenges.
"Despite the ongoing pressure of the COVID-19 pandemic, this group of publishers generated: more than 25,000 new paying subscribers; over 300,000 new newsletter subscribers; roughly ��8.5 million in customer lifetime value (CLV)," the statement read.
The publishers involved included French Groupe EBRA, Groupe Centre France, Groupe La Depeche, Groupe Sud Ouest, Le Courrier Picard, La Nouvelle Republique, La Provence, La Voix du Nord, Ouest-France, Paris-Normandie and Belgium-based Sudpresse.
According to Facebook, the France Subscription Accelerator project is a part of the company's 270-million-euro-worth strategy to support media worldwide and a part of a 2-million-euro package of investments in the region. It was funded by the International Center for Journalists.
