Life line for publishers with new content payment system

Life line for publishers with new content payment system
SHARE
THIS



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.

Payment screen

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

Carat Appoints Oliver Carthy Head Of Digital
  • Media

Carat Appoints Oliver Carthy Head Of Digital

Lauren Small, managing director of Carat Sydney has announced the appointment of Oliver Carthy as head of digital. This is a new appointment for the Sydney office with Carthy leading Carat’s digital offering and building best in class digital skills and capability, together with driving adoption of dentsu’s proprietary technology and platforms. Prior to joining […]

Teenage boy wearing headphones works at desk in his bedroom
  • Media

New Research Names Olivia Rodrigo And BTS The Most Popular Study Music

Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]

Major New Sponsors Named For Nine’s Australian Ninja Warrior, Including KFC, ALDI And Bendigo Bank
  • Media

Major New Sponsors Named For Nine’s Australian Ninja Warrior, Including KFC, ALDI And Bendigo Bank

Nine has announced a record six major sponsors for the 2021 season of adrenaline charged Australian Ninja Warrior. Leading health insurer AIA Australia joins Nutri-Grain, ALDI, Energizer, KFC and Bendigo Bank. Season five of Australian Ninja Warrior premieres Sunday June 20 and will feature innovative, bespoke in-show branding that compliments both the editorial of the […]

Cannes Lions Announces Awards Entry Numbers For 2021
  • Advertising

Cannes Lions Announces Awards Entry Numbers For 2021

Cannes Lions has published its entry numbers ahead of Cannes Lions Live, which will run from June 21-25. 29,074 pieces of work have been entered from 90 countries, with entries spanning two years after the awards were paused due to the global pandemic in 2020. Simon Cook, managing director, LIONS, said that this was a […]

by B&T Magazine

B&T Magazine
Happy woman drinking tea and waving to someone while having video call over desktop PC in the evening at home.
  • Marketing
  • Opinion

Building A Successful Remote Marketing Team

Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]

Opinion

by B&T Magazine

B&T Magazine
Australia’s The Kid LAROI Joins Billie Eilish, Dua Lipa, Olivia Rodrigo And More In iHeartRadio Festival Line-Up
  • Media

Australia’s The Kid LAROI Joins Billie Eilish, Dua Lipa, Olivia Rodrigo And More In iHeartRadio Festival Line-Up

The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]

From Intern To Chief Of Staff In 5 Years: Atlassian’s Helen Xue Shares Her 3 Pillars For Professional Development
  • Partner Content

From Intern To Chief Of Staff In 5 Years: Atlassian’s Helen Xue Shares Her 3 Pillars For Professional Development

You could say that Helen Xue has experienced a rapid career trajectory, although that might be somewhat of an understatement. In the space of five years, she successfully progressed from an Intern at Atlassian to the Chief of Staff for Platform and Enterprise (which included a move from Sydney across the Pacific to San Francisco). […]

Partner Content

by B&T Magazine

B&T Magazine
Shop! ANZ Calls On Industry To Participate In ANZ Shopper And Retail Marketing Industry Survey
  • Marketing

Shop! ANZ Calls On Industry To Participate In ANZ Shopper And Retail Marketing Industry Survey

Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]

How To Align A Marketing Strategy With Customers’ Shifting Perspectives
  • Opinion

How To Align A Marketing Strategy With Customers’ Shifting Perspectives

In this guest post, Ania Kubiak (main photo), A/NZ country manager at Lucid, offers her tips on how to align your brand with customers’ fast-moving expectations… In today’s digital world, the speed at which consumers’ perspectives and opinions on political and social environments is changing faster than ever before. Consumers are inundated with new information […]

Opinion

by B&T Magazine

B&T Magazine
Woolies’ Retail Media Business Cartology Announces New Appointments
  • Advertising

Woolies’ Retail Media Business Cartology Announces New Appointments

Cartology, the retail media business of Woolworths Group, has further expanded its team with Martin Wood (pictured below) been promoted to head of strategic partnerships and Matt Gower (main photo) has joined the business as senior manager of research and insights. Wood will lead a new team dedicated to servicing the retail media business’s largest […]

Condé Nast Agree To Wage Raise After Two-Year Campaign By The New Yorker Union
  • Media

Condé Nast Agree To Wage Raise After Two-Year Campaign By The New Yorker Union

CondÉ Nast, the publisher of publications such as VOGUE, Vanity fair, Pitchfork and The New Yorker has agreed to raise the minimum wage for employees after a campaign by the New Yorker union. The union had previously organised a protest, which saw New Yorker staff demonstrating outside VOGUE editor-in-chief Anna Wintour’s home. Placards at the protest had […]

GoDaddy Wins Gold As Official Partner For Australian Olympic Team
  • Technology

GoDaddy Wins Gold As Official Partner For Australian Olympic Team

GoDaddy has announced it has been named as the official website builder partner of the Australian Olympic team for the Tokyo 2020 Games.  GoDaddy has a history of supporting entrepreneurs and small business owners in Australia. Many Australian Olympic athletes are small business owners themselves, running businesses and side hustle to help support the pursuit […]

Global Media Network MDC Partners Adds This Is Flow To Global Affiliate Program
  • Marketing

Global Media Network MDC Partners Adds This Is Flow To Global Affiliate Program

MDC Partners (NASDAQ: MDCA), the company that owns agencies including 72andSunny, Anomaly and Media Kitchen, has expanded its global footprint in a partnership with This Is Flow. The Australian based indie will become MDC’s affiliate media planning and buying agency across Australia and New Zealand and will help manage global clients and participate on global pitches etc. however This is Flow will still remain 100% independent.

Woman hand using mobile phone and laptop, Worldwide connection technology interface.
  • Technology

DoubleVerify’s Custom Contextual Targeting Launches On The Trade Desk

DoubleVerify has announced the expansion of a partnership with The Trade Desk to include activation of DV Custom Contextual, which will enable programmatic advertisers using the platform to target relevant audiences in a privacy-safe manner that does not utilize cookies or personally identifiable information. The Trade Desk now supports a comprehensive suite of DV’s pre-bid […]