Wired is planning to introduce a paywall in January, part of a business and editorial reboot that will help protect the 24-year-old tech title as print revenue in the magazine industry continues to decline, reports Benjamin Mullin of The Wall Street Journal.
Mullin writes, “Wired has not yet set a price for its paywall, Mr. Thompson said, but he expects it will cost less than a Spotify Premium subscription, which runs $9.99 a month. The paywall will be metered, but the magazine, which is owned by Condé Nast, has not yet finalized how many articles visitors will be able to read for free each month.
“‘The simple reason that we’re going to a paywall model is that I think it’s going to make money, and I’d like us to make more money,’ Mr. Thompson said. ‘The deeper reason we’re going to a paywall model is because you need to hedge against the future.’
“Encouraging readers to pay for quality journalism is something of a passion project for Mr. Thompson, 42, who said his plan has been to install a paywall at Wired since he started as editor in January. When he was editor of NewYorker.com, the site — also owned by closely held parent company Condé Nast — launched a successful paywall in 2014.”
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