Reuters Is No Longer Free, Introduces Paywall For Its Online Stories
One of the largest new organisations in the world, Reuters, is going to introduce a paywall and will no longer be free. The organisation like other online publishers is looking for ways to replace its dwindling ad revenue and find new means of generating income.
Under the paywall structure, Reuters will let users read five stories a month for free, with plans to charge $34.99 a month for a subscription. The New York Times charges $18.42 a month, The Wall Street Journal, $38.99 a month, and Bloomberg.com charge $34.99 a month for comparison sakes.
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The Wall Street Journal put up its paywall in 1996, Bloomberg in 2018, and Reuters is finally catching up. Reuters sees an average of 41 million unique visitors monthly (according to the company). Now, it will hope to generate revenue from that number.
Reuters says it generates half of its revenue from its largest client, financial data firm Refinitiv. The company also makes money from advertising. Reuter says it has redesigned its website with a “professional audience” in mind with plans to invest in segments like legal news and live-streaming its events.
Reuters.com will still be free for a preview period, but the site will require users to register after five stories. It has not shared full details about when it intends to begin charging.
Josh London, the Chief Marketing Officer, Reuters, and Head of Reuters Professional, called the launch “the largest digital transformation at Reuters in a decade”.
He also said that; “Professionals need direct access to industry knowledge, data, and insights from expert sources, and Reuters is pleased to offer our trusted, impartial and accurate news coverage through a premium offering,” in an emailed statement.
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