Magzter, a cloud-based service (application) that enables readers to access magazines across tablets and mobile phones, is eyeing tie-ups with international comics publishers such as DC Comics and Marvel. Plans are afoot to introduce a full-fledged online bookstore too.
According to Girish Ramdas, CEO and co-founder, Magzter, the book store is expected to be introduced by September. The company is already in talks with major publishing houses such as Penguin, Harper Collins and Pearson in this regard.
“The book store would be in place by September. We are already in talks for including fiction, non-fiction and text books under the bookstore category,” he told
Apart from magazines, graphic novels and comics comprise the other category for Magzter. It has tie-ups for publishing content from Indian publishers such as “Tinkle” and Diamond Comics – makers of Chacha Chaudhury, Biloo and Pinki – amongst others.
“Discussions are also on with international comics publishers like DC and Marvel. Things are likely to materialise soon,” Ramdas said. Headquartered in New York, USA, Magzter was set up in 2011. It currently has global tie-ups with over 350 magazines in over 30 languages, which range from general interest categories that include India Today , Filmfare to business segment specific magazines like Asian Photography , AutoCar amongst others. Tie-ups also include international majors such as Newsweek , Cosmopolitan and so on.
It has over 1.2 crore users across 160 countries in the world.
Magzter, as an application, is available across iOS (Apple) – that include iPhones, iPads, iPod – and Android devices. It is also accessible on the Web.
Revenue Model
Under the existing revenue model, Magzter charges subscribers or readers, for content. For example, a user has to pay around Rs 110 for access to Readers’ Digest magazine. Proceeds are shared between Magzter and the publisher.
Publishers, however, are not charged for uploading their content on to the platform.
A user, who downloads a magazine, gets it automatically across five devices through his Magzter account.
“We hope to break even by next year,” Ramdas said.
Funding
According to him, the company is looking to raise around $10 million in its second round funding. “We are in discussion for raising the amount,” he said.
Magzter, had earlier in March 2012, raised around $ 3 million from Kalaari Capital, as round one funding.
abhishek.l@thehindu.co.in