Publisher Le Monde's Plan to Increase English-Speaking Subscribers

In early April, the 78-year-old French news publisher Le Monde announced the launch of its first-ever English-language product, a key component of its ambitious plan to reach 1 million total digital subscribers by 2025. The publisher recently surpassed 450,000 digital subscribers, but its goal to more than double that figure in three years will require significant growth from outside of France. Le Monde estimates that fully 25% of its eventual 1 million digital subscribers could come from international readers, with more than half of that number––roughly 150,000 people––paying for the English-language edition, said chief executive Louis Dreyfus. One week after launching its English-language product, Le Monde had generated 1,000 new digital subscribers. By the end of the year, it hopes to raise that number to 30,000. The U.S. represents a crucial part of the Le Monde strategy: It is the fourth-largest market for Le Monde journalism already, with its 700,000 monthly readers trailing only France, Belgium and Canada––all countries with a sizable French-speaking populace. “We wanted diversification, knowing that our digital subscriptions were showing strong growth,” Dreyfus said. “So we built a product for international markets that will not compete with market leaders, but would allow us to seduce a small chunk of their portfolio.” As Le Monde plots its expansion into the U.S., its efforts could inform how other publishers craft their digital subscription strategy. In particular, a growing number of news organizations, ranging from the inveterate New York Times to the upstart Semafor, have announced their intentions to target international audiences. The successes and missteps of Le Monde could offer a valuable case study in the new world of a media business without borders. What Le Monde sees in America By 2025, Le Monde plans for its English-language product to reach 10 million monthly readers. And with the largest population of English speakers on the planet, the U.S. figures prominently into those calculations. Helpfully for Le Monde, the market for digital subscriptions is more mature in the U.S. than in Europe, Dreyfus said. In 2020, the publisher generated 25% of its revenue from digital subscriptions, but 46% of its revenue through print subscriptions and newsstand sales, according to data compiled by Enders Analysis. Le Monde also views digital subscriptions as a winner-take-all proposition, a mindset that encouraged the publisher to push into English-speaking countries and plant the Le Monde flag. Further compelling its expansion, the publisher says it could hit its subscriber ceiling soon––it claims to have cornered 70% of the French market––and sees audiences abroad as the natural next step for widening its funnel. Still, in part due to the relative maturity of the U.S. market, the competition for digital subscriptions is more fierce, said Alice Pickthall, senior research analyst at Enders Analysis. “Le Monde is market leading in its primary geography, with expertise in driving digital subscriptions,” Pickthall said. “However, the English-speaking market for quality news is well-served.” Converting U.S. readers with French journalism So far, reporting surrounding French politics has performed particularly well since the launch of the English-language edition one month ago, Dreyfus said. The timing of the launch was no coincidence: Le Monde knew that the close contest for the French presidency, between incumbent Emmanual Macron and challenger Marine Le Pen, would draw international interest. It planned the launch of its English-language product to coincide with the election. Once the election fervor subsides, Le Monde anticipates that two kinds of content will resonate with Americans. First, the publisher hopes to act as a lens through which Americans can see the European perspective on global events. Second, it aims to capitalize on the abiding American interest in French culture, including fashion, food, wine and lifestyle. How Le Monde translates its reporting The publisher has allocated €3 million, or $3.1 million, per year to grow its English-language edition, and two-thirds of that cost goes toward translation efforts, Dreyfus said. Le Monde will produce no original reporting for its English-language edition. Instead, it has built a system, using artificial intelligence, a professional translation service and a team of Los Angeles-based English-speaking editors, that enables the fast, accurate and affordable translation of its reporting. Virtually all Le Monde reporting will be translated into English, except for stories that would be irrelevant to audiences, such as a local financial instrument adjusting its rates, Dreyfus explained. On top of the standard challenges in converting readers to subscribers, Le Monde will also have to deal with a lack of brand recognition in the U.S.: Only 9% of Americans are familiar with the publisher, according to a 2021 study. That lack of awareness could be one of its primary hurdles, said Dan Rua, chief executive of the visitor management software Admiral. “Brand affinity plays a huge role in conversion rates, so they will have to apply investment to that topic,” Rua said. “You can’t ask someone to marry you on the first date.”

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How Le Monde Plans to Net 150,000 English-Speaking Subscribers by 2025

The U.S. is the largest non-French market for the publisher

Mark Stenberg

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Mark Stenberg