CNN, Reuters Launch Digital Paywalls
The introduction of paywalls by CNN and Reuters highlights the ongoing challenges faced by the media industry as it adapts to a shifting digital landscape.
Topics
CNN and Reuters are the latest media organisations to launch digital paywalls as a way to support their newsroom activities, as well as sustaining their journalism work globally.
For CNN, users will have to pay US$3.99 per month while Reuters will charge US$1 per week. It is worth noting that both news organisations will offer a certain number of free articles per month before offering the digital paywall once they reach that threshold–albeit currently unidentified.
In an internal memo, Alex MacCallum, Executive Vice President of Digital Products and Services at CNN, said, “In addition to unlimited access to CNN.com’s articles, subscribers will receive benefits like exclusive election features, original documentaries, a curated daily selection of our most distinctive journalism, and fewer digital ads.”
Meanwhile, in a separate memo sent by Mark Thompson, the Chairman and Chief Executive of CNN over the summer, he said, “CNN would create best-in-class, subscription-ready products that will provide need-to-know news, analysis and context in compelling new formats and experiences, starting with CNN.com’s first subscription product launching before the end of 2024.”
On the other hand, Reuters’ subscription launch comes after a three-year delay, partly due to a disagreement between Reuters and financial data provider LSEG regarding whether the paywall would violate their news supply agreement. The current pricing is lower than the $34.99 per month Reuters had originally intended to charge in 2021.
Paul Bascobert, President at Reuters, said, “This new subscription plan ensures Reuters can expand the reach of its award-winning coverage at an affordable price, while allowing us to further invest in our reporting and products for subscribers.”
The introduction of paywalls by CNN and Reuters highlights the ongoing challenges faced by the media industry as it adapts to a shifting digital landscape. In an era where free content once dominated, these outlets are grappling with the need to balance revenue generation with audience retention.
As traditional advertising models falter, paywalls reflect the broader struggle for sustainable business models, signalling a continued evolution in how news organisations deliver quality journalism while competing for consumer attention in an increasingly crowded and fragmented media ecosystem.
Also Read: WarnerMedia to Launch CNN+ Streaming Service Early in 2022
