We are pleased to announce we were recently accepted into NVIDIA's Inception Program!
We are pleased to announce we were recently accepted into NVIDIA's Inception Program!
The recent announcement by TIME that it will remove its digital paywall and make its trusted journalism free and accessible worldwide on Time.com has sparked a debate about the future of online content and how publishers can sustain their businesses in a changing media landscape. TIME CEO Jessica Sibley said that the decision was motivated by a desire to reach more audiences globally, that are younger and diverse, and to democratize access to information. She also said that part of the process includes "understanding consumer behavior and making sure that we are moving in the right direction with how consumers are engaging in content," and that she expects other publishers to follow suit and look for new business models that suit their audiences and consumers.
TIME is not the only digital publisher that has dropped or reduced its paywall in recent years.Quartz, Gannett, and Spotify are just a few of the many publishers who are dropping paywalls in favor of alternative revenue models and to gain better access to consumer attention.
So why are some publishers opting for free content over paywalls? And what are the implications for the future of online media? Here are some possible reasons and scenarios:
By removing the paywall, publishers can potentially reach more people who might not be willing or able to pay for access to their content. This can increase their brand awareness, loyalty, and social media presence. It can also create more opportunities for engagement such as comments, shares, likes, and feedback. Engagement can be a valuable metric for publishers, as it can indicate how much their content resonates with their audience and how likely they are to return or recommend it to others.
By making their content free and accessible on the web, publishers can also benefit from the power of artificial intelligence (AI) crawlers and algorithms that can index, analyze, and rank their content on search engines and social media platforms. This can boost their visibility and discoverability online, as well as generate more traffic and referrals. AI crawlers and algorithms can also help publishers optimize their content for different platforms, devices, and audiences, by using natural language processing (NLP), computer vision, and machine learning techniques.
While free content may reduce the direct income from subscriptions or paywalls, it may also open up new possibilities for generating revenue from other sources that rely on AI use of information. For example, publishers can monetize their data by selling or licensing it to third parties who want to use it for research, marketing, or product development purposes. Publishers can also create new products or services based on their data or content, such as newsletters, podcasts, courses, or apps. Publishers can also partner with advertisers or sponsors who want to target their audience with relevant and personalized ads or offers.
Unfortunately, it’s not all sunshine and rainbows. A recent viral collaboration by Drake and the Weeknd turned out to be a fake generated by Artificial Intelligence and Drake was not pleased. The song has since been removed following a threat of action to be taken over generative AI mash-ups of artists' music or voices like this.
This highlights one of the many challenges for publishers distributing free content in a digital age becoming overwhelmed by AI. Fresh new content is quickly becoming a thing of the past as AI mash-ups are dominating the scene. This legal and ethical issue is reminiscent of the debate over Napster and file sharing, albeit more nuanced.
The challenge for publishers and artists will be to continue producing fresh new content despite pressures to flood the market with faster and cheaper versions. This may in fact see the artists themselves resorting to using AI tools in order to compete with those who are doing so, leading to a technological arms race of sorts for musicians and artists.
YouTube, the world's largest video-sharing platform, has grappled with the challenge of managing content rights and paying out royalties to music publishers since its early days. YouTube has addressed this issue by implementing a system called Content ID, which allows copyright holders to identify and manage their content on the platform. Content ID uses advanced algorithms to scan and match uploaded videos against a database of copyrighted material provided by the rights holders. If a match is found, the rights holder can choose to block, monetize, or track the video. In this way, YouTube has been able to balance the interests of creators, users, and copyright holders, while also generating revenue for itself through advertising and premium subscriptions.
Beyond the business implications for publishers, free content also has broader social and political implications for society and democracy. On one hand, free content promotes greater access to information and encourages greater dialogue for more individuals and communities around the world. This reduces the impact of information inequalities and ‘news deserts’ that emerge in lower socio-economic communities when they are not served by freely available news and media.
However, free content may also exacerbate misinformation, disinformation, polarization, and echo chambers. We have seen this play out with the 2016 elections and Facebook, and this could be exacerbated with the mass adoption of today’s AI tools such as ‘deepfake’ videos and audio.
Recent firings of major news personalities on both sides of the aisle might, however, show a new wave of momentum towards less polarizing news distribution in the U.S.
Publishers, whether they know it or not, are some of the biggest players in the engagement space and they are all fighting for attention. Instead of being measured in clicks and impressions, it's measured in minutes and movement. As the free content on the internet becomes increasingly leveraged by AI chatbots and crawlers, publishers will need to find new ways to capture the value of engagement whether it is generated by AI or by a real person, or a combination of the two.
This could involve creating richer content libraries that are increasingly unique, or licensing existing libraries and personalities to AI bots. It could also mean companies will be able to provide more immersive and personalized experiences, through mixed reality applications. Whatever the case, a more conversational web is in the future.
The influencer hype cycle has taught us that trust is key, with 72% of Gen-Z leveraging their favorite influencers to make financial decisions. Publishers must prioritize trustworthy content and transparent media practices in order to enhance value for their audience. Platforms that democratize access are seeing more time on apps. Publishers may also need to experiment with different pricing, bundling, and value propositions, in order to find the right balance between monetization and accessibility for their target audiences.
Working with AI companies to integrate profitable models may be of value as well. Those that work with AI will likely start paying fees to the very same creators and publishers in time. The musician Grimes has pioneered this transition by offering a 50% royalty distribution to anyone who would like to use her music.
The role of regulation and self-regulation. As the future of free content on the web unfolds, there may be a growing need for regulation and self-regulation to ensure that publishers, platforms, and users are held accountable for their actions and decisions. Value online is greater than ever before and verifiable and trusted content will be king in this brave new world. As control over the distribution of content is increasingly centralized by a few large companies, This could involve developing new laws, standards, or codes of conduct that address issues such as data privacy, content moderation, algorithmic transparency, and digital literacy. It could also involve promoting cross-industry collaboration, public-private partnerships, and multi-stakeholder dialogues to foster innovation, trust, and responsibility in the online media ecosystem.I'll split 50% royalties on any successful AI generated song that uses my voice. Same deal as I would with any artist i collab with. Feel free to use my voice without penalty. I have no label and no legal bindings. pic.twitter.com/KIY60B5uqt
— 𝔊𝔯𝔦𝔪𝔢𝔰 (@Grimezsz) April 24, 2023
This article was created as a response to the thought provoking announcement by Sarah Fischer of Axios