Paywalls are the last Bailouts for content industries attempting to maintain solvency on the internet. News and media organizations of all sorts, from hard news, specialty publications, audio and video industries are discovering that content surrounded by advertising may have kept the printing presses running, but the internet isn’t buying.
Paying for content on the internet is like trying to get folks to pay for air. Here is a hint on that uphill battle, We are already paying a subscription to our Internet Service Provider. With that we have the run of the internet seeing what we can find, on our schedule, and can converse or even become a publisher ourselves) The internet is not an exclusive monologue broadcast medium. Speaking Truth to Power is not confined to Editorial Conference rooms, nor does it require a staff of hundreds. An internet connection and a keyboard gives a guy in a trailer park the same chance that a mega corporation has of reaching an audience.
There are a number of publications that are web subscription only and are still in business, notably the Wall Street Journal, whose focus is on financial news that is vital to its readership. There are others but share a common set of factors. They are niche publications, provide information that is relevant, timely and authoritative.
News Print publications are taking the largest beatings due to the changing nature of searching, accessing and interacting with news. An exclusive story used to have shelf life measured in days, now it is measured in minutes for the slower stories. News organizations shot themselves by going online without a paywall from day one. These organizations devalued their offerings with the first steps on the internet without a subscription service. Nor have they made a good case for subscriptions since.
Variety is the latest entrant into the Paywall Bailout Lottery. Variety is a trade publication that reports on the arts in film, television, theater, and music. It was arguably the premier publication in its field. There are however hundreds of niche sites that focus on these areas. Like all publications that are struggling, they have to offer something extra to get you to sign up. Variety’s solution:
One fee now provides access to all Variety products, including the print editions of Daily Variety and weekly Variety, as well as Variety.com and Digital Variety. Currently, the introductory subscription rate is $248 annually. Once a person subscribes, all Variety content is accessible on any platform.
Source Variety.com
P.S. Following the link above will count against you: “Nonsubscribers may access only five pages of content in any given month.”
This is a ballsy experiment. Not only are they attempting to support their online efforts, but are trying to keep their printing presses rolling. There is probably something about the Ad Sales department selling two ad spots(online and print) for the same money. Further devaluing their desirability and decreasing their income.
They may not have gotten the memo that folks who digest news online are the last in line to have their mailboxes filled with the same news.