How Coronavirus helped The Massive Problem go digital
When the pandemic broke out, The Big Issue lost 80% of its revenue overnight. When the magazine's vendors are finally selling on the street again, CR examines how a combination of quick thinking and creativity helped them stay afloat during the crisis
It was a hurricane for The Big Issue. On March 20, just a few days before the UK government announced a nationwide ban following the pandemic, it decided to take its sellers off the road indefinitely. The immediate effects could not have been more dramatic. With vendor sales making up most of the organization's business model, overnight revenue was reduced by 80%, while vulnerable people who rely on selling the magazine for a living were forced to quit keep away from the street.
The Big Issue team knew that the decisions they made in the days and weeks that followed would be critical to the future of the organization. "We knew that the block would come, so we worked really cooperatively and quickly as a team and followed our gut instinct," said Zoe Hayward, group marketing and communications director. “To make decisions and respond quickly to the things that we had to do, we had to do it because we had to survive, and we not only had to survive for ourselves, but also support the providers that we support now and now we have to support in the future. "
Within a few days, the team had redefined the Big Issue business model for our new reality. An appeal fund was launched to generate public financial support. 50% of the proceeds went directly to the sellers themselves. Shortly afterwards, a new subscription business was launched that would allow consumers to continue buying the magazine while the sellers could not sell it. The three-month subscription was £ 32.50 and also included the option to download a digital edition of the magazine through Zinio.