What is a Paywall?
For print media, profitability is always a math problem. Standard advertising and subscription rates make it easy to estimate sales based on your existing customer base. There are some when there are technical challenges or traffic jams. Everything is easier.
Enter the World Wide Web.
The internet has changed the way media works
Now everyone can put their message online with a link. Information overload makes it more difficult for publishers to gain competitive advantage. Older media companies have no choice but to adapt to changing landscapes.
This change is not easy. The technical tasks that require you to remain profitable online far exceed what is required to operate the press.
The problem with newspapers - and their owners - is not that news has suddenly become popular, but that it is increasingly difficult to make money from news. The reason for the decline in profits is simple: Newspapers have controlled the news and advertising markets for more than 100 years, but digital has changed everything. Brackets like classified ads, real estate, and fast online cars. The newspapers are too slow to respond to secret sites like CraigsList and Gumtree - and lose the market.
via The Conversation
While the income from print advertising has declined significantly over the years, digital hasn't really been able to overcome its weaknesses.
Making money with digital media is not easy. Banner blindness, falling clicks, and ad blockers are just a few of the things that are in line with the digital potential of digital publishers. without considering factors such as accessibility and competition.
While this opportunity is increasing compared to digital media, profit channels are shrinking because display advertising is the only way to generate revenue - there is no way to offer reader subscriptions much later on. Fortunately, digital publishers now have the technology to copy subscription models to the Internet.
Back to the original question: What is Paywall? Paywall is a way for digital publishers to limit access to their content and offer paid subscriptions to consumers.
Hard Paywall: Hard paywall is one of the most risky paywall options if the publisher requires the user to subscribe before accessing online content because the publisher must lose most of his viewers and visibility. For example, The Times has a solid payment wall, and while revenue can grow, traffic drops by 60%. In fact, Wikipedia founder Jimmy Wells began to say that the Times had proven irrelevant.
However, there are some cases where hard paywall is used: this might work if you are targeting a specific niche and / or have dominated your market. Think of New Scientist, another website with solid paywall and workable content.
Soft Paywalls: Also known as "Payed Metered" They allow users to view a certain number of articles before being asked for full access. Quota is updated every 30 days. This is the most common model used by older media companies. Soft utility walls ensure a balanced relationship between additional income without disturbing all readers. In addition to the relatively small decrease in page views, reader retention is generally higher compared to sturdy walls.
Most Hardcover publishers report a 15-20% retention rate. The average retention rate for newspapers that use a measured firewall is 58.5%. Some report that up to 90% of readers are arrested.
Some publishers also use paywall, which gives users free access to selected content, while some premium content is protected by fixed paywall.
Because the media ecosystem is very complex and diverse, there is no formula for what will and will not work for everyone. Therefore implementation takes place on a case-by-case basis, depending on clear content, publisher market share, e.g. H. and demographics, among others.
Do you need to apply Paywall?
Hard paywall may not be the right solution for everyone. However, you can set a soft paywall with limited access to content that is suitable for you. If you find the optimal place for your posts, you might be able to increase overall sales without significantly affecting the number of readers or display ad sales.
However, keep in mind that consumers generally don't see the city walls well, according to a study by a Canadian media consortium of 1,700 people. 92% of participants who read news online prefer looking for a free alternative rather than paying for a website of their choice (compared to 82% of Americans), while 81% say they absolutely won't pay for an online news site of their choice.
In short, paying for a wall can be a good income strategy if several conditions are met: first, your post is well-established and has a large number of readers, and second, you must also be sure that at least a certain percentage of your readers will be ready to do it. get paid to access your content; If you fail, the whole exercise will likely be a lesson in frustration.