Far from being a failed experiment, Esther Kezia Thorpe argues that we need to think bigger when it comes to micropayments, for What’s New in Publishing.
With the rise of subscriptions and paywalls comes the realisation that there’s a large chunk of a publisher’s audience that they may never be able to effectively monetise. Only an estimated 5% of a publisher’s digital readership will convert to pay for a full subscription, according to Digiday.
But what’s the alternative? Micropayments are one of the alternative revenue streams touted by hopeful tech start-ups and half-heartedly trialled by some organisations. But you’d be hard pushed to think of a publisher in the Western hemisphere who has properly explored micropayments, for better or for worse.