Time Magazine App Costs Too Much?
Monday, April 5, 2010
MediaMemo has brought attention 
to the fact that some media outlets, like Time Magazine, are charging big money for little its iPad apps. Bringing up the question is $4.99 a week to much to pay for Time Magazine's app?
Some would say it is, considering if one were to purchase Time Magazine at a local newsstand, it would cost roughly the same amount. Not to mention, a lot of users get there apps free off the Web, and would be outraged to have to pay $4.99 a week for one app.
Others would justify that the price is not to much, because of all the extra features the app provides to users over the print edition of Time. Meaning, users are actually getting more for their money.
Time, Inc. refutes that the price is to much with the logic that the price of the app will eventually be lowered, but it cannot be lowered, if the app is already priced low. Also, Time, Inc. will eventually offer discounted subscriptions to the app that will be much cheaper than the week to week paid price.
That is all well and good, what Time, Inc. plans to do about its prices, but what about other media outlets who have very high priced apps? Will they follow suit with Time, Inc. and eventually lower prices and offer discounted subscriptions? OR will they continue to have high prices because there is no regulation on how much they can charge for an app?
2 comments:
The first time any product hits the market it is generally at a higher price to make up for its cost of production. In the short term I think media companies can get away with this since the average consumer doesn't own an iPad. In the long run, however, these companies should definitely consider lowering prices or offering discounts.
I definitely would not pay for an app that much but I agree with Courtney that eventually the prices will go down when people realize they don't want to pay that much for these apps.
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