Time magazine is removing its digital paywall beginning June 1—providing access to current content, archives, and more.
- “The opportunity to reach more audiences globally, that are younger, and that are diverse, is really important,” says CEO Jessica Sibley.
- The media icon will create more ad-supported, digital content that will be accessible on its website, mobile app, and across social media, Axios reports.
- Coverage will not change but there will be an added focus on climate, healthcare, and politics.
why it’s important
Time, with 1.3 million print subscribers and 250,000 digital subscribers, has had a paywall for more than a decade. It has always charged for its print content.
Beginning June 1, the digital content will be free as will archived content from Time’s 100 years of publishing. Print subscriptions and newsstand copies will still be sold, and the company will offer a paid digital version on Amazon Kindle and Apple News.
“Being able to reach more people and expand Time‘s brand exposure is a key focus for Sibley as she seeks to grow Time‘s business globally, especially across events,” reports Axios.
“We believe in the democratization of content,” says CEO Sibley. “We know that in media, we’re always looking for new models and are continuing on our digital transformation and innovation journey.”
Increasingly the company is relying on other aspects of the business to drive revenue, and having more readers will help attract more people to its live events, TV, and movies. Time Studios, the company’s TV and film division, brings in around 25% of revenues. Last year, the company earned around $200 million in revenue, Axios reports.