Life line for publishers with new content payment system
Publishers worldwide are being given a revenue life line with the announcement by Australian company Nanotransactions that it is developing an innovative content payment system.
The system, which is seeking funding to move into its final development phase, removes the hurdles that publishers face in getting internet users to pay for content. Nanotransactions will allow people to pay just a few cents to access the content they want on a pay-per-view basis, without requiring them to subscribe or log in to paywalls.
It is envisaged that Nanotransactions will initially be used by online news site publishers, bloggers and freelance writers, but will rapidly broaden its reach to video and audio streaming sites and musicians.
Investors are currently being sought to underwrite the final stages of development, with a crowd funding program about to commence on Indiegogo at http://www.igg.me/at/nanotransactions.
Nanotransactions Founder Nick Ross, who is himself a publisher, editor and journalist, commented “Netflix’ experience in the US has shown us that if content is offered at a reasonable price, using a system that’s simple to use, people will pay. We believe Nanotransactions will deliver a robust and profitable transactional model for publishers of all sizes.
“Current newspaper pay-wall business models are based on the expectation that less than two per cent of regular online readers will subscribe, but that’s not a sustainable business model for the long term. Paywalls are also annoying for consumers to use particularly when every publisher has a different system. Unless we as an industry take a significantly different approach, our industry will die on its feet,” said Ross.
Nanotransactions is currently being developed by Vivant, the company which created CommBank’s Kaching banking app and its Property Guide app.
Existing micro payment systems cost around 40 cents per transaction in credit card and PayPal fees, which means publishers struggle to find a price point that customers are willing to accept to access content. By contrast, Nanotransactions will charge as little as one cent per transaction, giving publishers the flexibility to set different rates for their content. It is anticipated that the majority of content would be charged from as little as five cents per article, up to 10 or even 20 cents for special or unique content. Payments can also be capped per day or per week or per item of media.
For a major publisher who may see a basic news story achieving a fairly-typical 20,000 views, Nanotransactions offers them the opportunity to potentially generate $1,000 at five cents per view. A micropublisher, or high-profile writer with a dedicated audience or social media following who, would be happy to pay for specialist content, may opt to charge 10c or even 20c per one off article and could potentially generate well over $1,000 a story.
“The current industry standard for freelance writing is just $200per article at best and many freelancers are expected to write for free,” said Ross.
These higher rates of return would enable publishers to enjoy greater profitability and in turn pay for more high-quality staff and freelancers, thus improving the general content quality and offering work to the many now-unemployed journalists.
As well as offering publishers a strong income stream and readers the opportunity to access higher quality content, Nanotransactions will also allow people to:
- Republish other people’s content and have all parties get paid;
- Publishers can commission specialist/high-profile writers to create original content for them without spending money from their freelance budgets – the Nanotransactions payments automatically get split between the publisher and the writer’s accounts.
Potential impact on existing websites and industries
While Nanotransactions is initially targeting publishers, it has considerable potential in a range of other markets including:
- Musicians can charge ‘per play’ of their music while fans can republish songs on their own websites and ALL parties get paid.
- Video and audio streaming websites can charge by the minute – no having to worry about rental expiries or paying to ‘watch the whole thing again’ when you just want to re-watch one part.
- Pay a couple of cents to skip ads
- Blogging communities and Contributed Content websites (and everyone else) can use the same account to pay for content that they do to receive money for content. The person who contributes most gets the most money. Republishing other people’s work gains more even money. Going viral offers potentially-large rewards.
- Internet forums can charge a few cents per day to help cover running costs.
- Marketing companies can finally charge for sponsored content.
Please login with linkedin to comment
Latest News
Here Are The Agencies That Made AFR’s Best Places To Work List And What The Industry Can Learn From Them
Did your office not make the list? Make sure your boss shouts at least two schooners at office drinks come Friday.
Get Ready, B&T’s Best Of The Best Is Back With The Top Holding Company Executive Leaders – Creative!
Want to know who the grand-est of the grand fromages in the industry are? Look no further than this exhaustive list.
How A Glittering Campaign Helped The Australian Museum Sell 400,000 Tickets
B&T thoroughly enjoyed the Ramses exhibition at The Australian Museum, despite thinking we were going to the Archibald.
TV Ratings (30/04/2024): A “Shoey” Straight From A Fish’s Mouth Launches The Cheap Seats Into 2024
Last night's TV saw horny farmers beat Lego nerds, who beat fame-obsessed home cooks, who beat a chap with a large fish.
Spotlight Extends Partnership With Starlight Children’s Foundation
B&T always happy to promote the excellent work of the Starlight Foundation. Less so the Starfish Fanciers Foundation.
Amazon’s Advertising Quarterly Revenue Soars To $11.8bn
There are so many Amazon couriers visiting B&T headquarters at the moment our office dog doesn't know who to maul first.
VML Wellington Welcomes Jacob McGregor As Pou Ārahi Māori
McGregor set to lead cultural competency and safety at VML Wellington in important new gig.
“They Grow Up So Fast”: Simon Fowler On Five Years Of ABEL
Abel's CEO talks lessons learned from the agency's first five years. Including staff nicking all the Nespresso capsules.
Kyle & Jackie O Urge Melbourne To Pick A Side
Who can stop Kyle & Jackie O's indelible march into Melbourne radio? Is Peter 'Moony' Moon waiting by the phone?
Future & Taika Waititi Feature In Striking New Global Belvedere Campaign
Not only does drinking vodka make you cool like these dudes, it also has great weight loss properties for the bone idle.
The Fall Of Bonza: A Case Study In How To, And Not To, React In A Crisis
Does the collapse of yet another budget airline hark back to a gentler time of 17 hours spent on a Greyhound bus?
Opinion: Agencies, Be Unique – Stop Using The Word “Unique!”
Trinity P3's Ellie Angell says agencies are overusing the word unique. You could add omnichannel & holisitic to that.
Ex Marketing & Advertising Exec Releases Melanoma Memoir
Ex-adlander Anne Gately has penned a tome to skin cancer. Which is a handy reminder to check your moles, people.
Mamamia Appoint Danni Wright As New Head Of Strategy
Danni Wright takes up Mamamia's strategy reins with a feng shui expert called over positioning of office chaise lounge.
From The Bureau: Championing Competency & Cross-Industry Collaboration
The IAB's Jonas Jaanimagi calls for more specialisation in adtech. Meaning you'll understand it less than you already do.
Rumble Nabs Renee Park From Cutting Edge
Rumble has recruited Renee Park as one of its new sound designers. And it's only right to make some noise about it.
iD Collective Teams Up With City Of Parramatta To Amp Up NRL Fan Experience
Adland's often lampooned for never going further west than Surry Hills. So this Parramatta news is welcome indeed.
Slew Of New Hires At The Company We Keep
The Company We Keep announces new hires. Here's hoping it doesn't impact the RBA's interest rate decision.
UnDigital Announces Brand Refresh Helping Clients Achieve More Than 600% Sales Increase
Warning - this headline comes with some obscene bragging. Much like the B&T editor's 5/8 in the weekend footy tipping.
Microsoft Advertising: “We Make The Complicated Simple”
Microsoft ads wants to make the complicated simple. The total opposite to Korean restaurant menus & the recent Yes vote.
TV Ratings 29/4/24: Farmer Wants A Wife And Lego Masters Lock Horns In Overnight’s Battle
Who won the battle of the big guns - Lego or Farmer Wants A Wife? One thing's for sure, it wasn't Great Train Journeys.
Nielsen Data Reveals Brands Spending Big To Attract Aussie Tourists
Nielsen Ad Intel data has revealed that the travel and tourism industry spent more than $153 million on advertising in Australia in Q1, 2024 – an increase of 8 per cent from the previous quarter, with TripADeal the biggest spender, followed by Virgin Australia, then the Flight Centre-owned Ignite Travel. As many Australians return from […]
IAS Awarded New Responsible AI Certification From Trustarc
Integral Ad Science tossing up over the mahogany or teak frame after being awarded TRUSTe Responsible AI Certification.
AWARD Calls For Hall Of Fame Nominations
B&T's noms for AWARD Hall of Famer includes Louis The Fly, Chums' talking Scottie dog & Mumbrella's coke dealer.
Havas Red Wins PagerDuty PR Account
Havas Red wins PagerDuty's PR. And judging by B&T having to Google PagerDuty, it could probably do with some help.
ACA Poised To Release Results Of 2023 Create Space Census
The Advertising Council unveils date for its census results. Hey, why not coincide it with an office lamington drive?
Why Fear Is Essential To Fernando Machado’s Creativity
If there's anyone B&T loves to chat to, it's fabled marketer Fernando Machado. Although the 5am time difference sucks.
Superdry Drafts AFL’s Patrick Lipinski For New Campaign
B&T fast regretting that poncho we just bought, as it appears the puffer jacket returns as winter's hottest trend.
Elon Musk vs eSafety: Legal Experts Warn That ‘Rogue Operators’ Like X Are Unlikely To Win Federal Court Battle
If this legal stoush boils down to who can afford the better lawyers, B&T's backing Mr Musk every single time.
Amy Poehler Presents First Look At Inside Out 2 At Vivid Sydney 2024
Vivid isn't about freezing your arse off while looking at lights on a wall, as you'll learn with this Amy Poehler news.
Mutinex Launches DataOS Improving Data Warehousing & Quality For MMM Marketers
Work in marketing? Does your data warehousing resemble a teenager's bedroom? Here's a Marie Kondo-approved read.
IMAA Celebrates Three Years Of Group Trade Credit Insurance Deal
Are you a struggling indie? Thinking of firebombing the building for the insurance money? IMAA has you covered here.
Adam Sandler Seemingly ‘Slams’ Ukraine In Pro-Kremlin Campaign
Host of A-list celebs caught slamming Ukraine's president. Thankfully it does have the Milli Vanillis about it.
New Marketing & Comms Agency For Defence & Aerospace Industry Takes Flight
As painful as this is to say, judging by current world events, the bomb & tank industries must be in rude health.
Opinion: Do Punters Want To Wear Your Brand?
This columnist asks do punters want to wear your brand? B&T'd say yes if you were Nike, no if you were Anusol.
WiredCo Builds Portfolio With Appointment To G.J. Gardner Creative Account
WiredCo 'cements' its relationship with home builder G.J. Gardner. Did you see what B&T cheekily did there?