NEW YORK--(BUSINESS WIRE)--LaterPay, a technology company offering an industry-first, patented payment infrastructure designed to offer users immediate, frictionless access to content or services without requiring upfront registration or payment, today announced U.S. partnerships with both Salon and Pueblo Pulp (The PULP).
Salon.com, the flagship property of Salon Media Group, Inc., partnered with LaterPay to release a revamped ad-free version of its website. After testing various monetization strategies, Salon and LaterPay landed on a user-centric model that allows Salon to generate reader revenue without offering premium content. The recently implemented model enables readers to select an editorial environment that suits their preferences. Users are able to opt for a free, ad-supported model or an ad-free, reader-supported model. LaterPay’s payments infrastructure allows Salon’s U.S. readers to make one-click time pass purchases for the new ad-free version of the website, in increments of one hour, one week, one month or one year. Designed as a low-friction approach that enables users to enjoy an ad-free experience with access to unlimited Salon content, LaterPay’s infrastructure also allows readers to delay registration and payment until they reach a $5 threshold.
“In the first month, we have generated hundreds of subscribers to the ad-free offer without any promotion,” said Jordan Hoffner, CEO at Salon. “LaterPay’s ad-free subscriptions solution has been simple to install and operate, allowing us to be up and running within days. From crypto-mining to LaterPay’s reader revenue solutions, Salon continues to push for greater innovation within digital content monetization.”
Pueblo Pulp, an independent newspaper serving the Southern Rockies and Western Plains, partnered with LaterPay for their yearly and monthly subscriptions, as well as weekly passes and single article purchases. They have also implemented LaterPay’s Contributions Button, which allows Pueblo users to make frictionless, one-click donations, in increments of $3, $5, $10 and $25, to support quality journalism on The PULP’s website. The results from the LaterPay offers have been eye-opening for the local Colorado publication.
“Partnering with LaterPay has allowed us to transition to a digital daily with a frictionless system for our audience - something we have wanted to do for a long time. And we are already generating more revenue now then we would have with ads,” stated John Rodriguez, Publisher at Pueblo Pulp. “LaterPay has worked with us to offer our readers the freedom to choose their PULP experience, and the response has been eye-opening. From yearly and monthly subscriptions, to weekly passes, single article purchases and contributions, LaterPay allows us to offer our readers a variety of content consumption options that they are widely receptive to.”
LaterPay works with publishers as a collaborating partner, with the ability to test multiple monetization strategies, as well as consult on optimization of a website for conversions. By using LaterPay’s solution, digital publishers and service providers can simultaneously expand existing subscription models, increase paying customer bases and improve user experience.
“We are very excited, and pleasantly surprised, by the early numbers being generated from both Salon’s new ad-free website and Pueblo Pulp’s implementation of our Button and subscription solutions,” said Cosmin Ene, founder and CEO of LaterPay. “We’ve been excited to see that publishers can generate this level of reader revenue by offering a great user experience, and without having to offer premium content. We want to help publishers understand that there are multiple revenue streams available to them, and that they don’t have to cannibalize their ad revenue to implement another monetization strategy.”
LaterPay turns users into paying customers for digital content or services such as journalism, videos, and software. LaterPay owns patented technology for enabling micropayments without upfront registration, facilitated by the “use now, pay later” approach. This allows users to consume paid content and services on the internet with one or two clicks — without prior registration or having to pay in advance. It is only when the online tab’s $5 limit is reached that users are prompted to register and pay. By decoupling purchases from payments, LaterPay lowers the entry thresholds for users to consume digital goods and services. With LaterPay, publishers can tap into new customer groups, get users acquainted with paid content, and gradually but successfully market higher-value paid models such as time passes and subscriptions. In this manner, LaterPay builds a bridge between free, ad-financed offerings and subscription models by providing a paygate. LaterPay aims to empower content providers to monetize the vast space that lives between ads and subscriptions.
About Salon Media Group
Salon Media Group has driven the national conversation since 1995 through its fearless journalism and, more recently, original video, distributed across Salon.com, social media, mobile devices and wearable apps. Salon’s award-winning content reaches an audience of approximately 20 million monthly unique visitors.
Salon covers breaking news, politics, entertainment, culture and technology through investigative reporting, commentary, criticism and provocative personal essays. Salon’s articles and original videos bring a variety of voices to the discussion and make the conversation smarter.
About Pueblo Pulp
Pueblo Pulp (PULP) is an independent Colorado-owned local news organization serving the Southern Rockies and Western Plains and telling a stronger story for Southern Colorado. A mix of a traditional monthly magazine, news, arts and culture and narrative PULP features original news, culture and commentary specifically for Pueblo, Southern Colorado and beyond.