Readly is also developing its service in an attempt to make it more consumer friendly.

Other facts released by Readly include that 82 percent of the issue downloaded are current issues, with 18 percent back issues and that subscribers are spending an average of over 5 hours reading time per month. These people tend to subscribe to more than one stream of entertainment – many are using services such as Sky, Netflix, Spotify and Amazon Prime in parallel.”

Yet we now want to go beyond that core market to target what we call the Entertainment Junkie. 'For a magazine enthusiast, £9.99 a month for unlimited digital reading is an absolute no-brainer. We also have a wide range of magazines in our inventory which makes the service very attractive to the consumer when it is offered in an all-you-can-read payment model. “We have spent a lot of promotional money building our brand. Ranj Begley, Readly UK’s managing director, said: “We have managed to grow so quickly because of our scale and our single-minded focus on digital – things that most individual publishers find difficult to achieve on their own. Readly does not disclose overall UK subscription numbers, but said that subscriber numbers have nearly doubled between 20.

Readly, which launched in the UK in 2014, is now cutting its monthly subscription from £9.99 to £7.99 in an effort to woo more customers. Ma'We love competition': Readly chief exec welcomes Apple's expected arrival into digital subscription market

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