Time Inc. will be accepting bitcoin, thanks to a new partnership with Coinbase.
The New York-based media company publishes over 90 magazines including Fortune, Sports Illustrated, Life and Travel + Leisure. It reaches 130 million subscribers worldwide.
Earlier this year, they were spun off from media conglomerate Time Warner after 14 years of joint operation. The company is currently valued at $2.5 billion.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
Coinbase hopes that its Bitcoin acceptance will further engage and expand its audience by providing an easier method of payment.
Coinbase added that being a media company with digital content, Time’s integration with Bitcoin makes it ripe for facilitating microstransactions such as tipping- a feature introduced by Coinbase last month.
Furthermore, Time’s integration “is an important step in helping the publishing industry understand and explore new business models that can be enabled with bitcoin.”
A good recent example is an initiative by Nanotransactions to allow users to pay the equivalent of pennies to view, for example, a single article.