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Summary:

Slovakian publishers’ new joint paid content initiative has made €40,000 in its debut month.

On May 2, nine major news and magazine publi…

Stack Of Newspapers On Table
photo: Corbis / Dirk Rees

Slovakian publishers’ new joint paid content initiative has made €40,000 in its debut month.

On May 2, nine major news and magazine publishers plugged parts of their sites in to Piano Media, a shared paid content system.

That number looks small but Piano’s founder TomáÅ¡ Bella tells paidContent:UK: “We have a population of 2.5 million internet users and GDP at 73 percent of European Union average. This is a relatively poor country with not that many people used to paying via the internet, so the media here are really very, very happy with the result.”

Despite disclosing a first revenue figure, the publishers do not want to quantify the actual number of Piano subscribers, who pay either €2.90 per month, €0.99 per week or €29 per year for access to each of the sites. live. “We achieved our subscriber target within two days of launching the system,” Bella claims.

Of the revenue raised, 70 percent goes to participating publishers, balanced according to time spent.

Traffic at some of the publishers fell little or, in some cases, actually increased, Bella claims. “The readership of more than half of the media that joined Piano has risen after entering our payment system.”

Piano wants to expand in Europe.

  1. That may work in a nation where people are not used to how the global internet works.

    When these people become sophisticated internet users they will learn how to get their information the way the rest of the world does, free or advertiser supported.

    As an old school techie who was sick to death of the cable TV subscription model of things, I was thrilled to find the internet where people were doing stuff differently. If the internet heads in this direction these people had better be prepared for a fight because two generations of internet users know better than to believe that the only way to do things is to go back to legacy business models.

    For example, I am in the process of creating a publishing company who will knock the socks off virtually all other publishing companies in the world because we plan to give the author 95%+ of the profits from their content vs the typical rates offered by all other publishing companies.

    Disruptive business ideas and technology. Get used to disruption, its here to stay!

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    1. Heilager, I wish you luck. The day you become a publisher you will see the web with entirely different eyes, believe me. I’d be interested to know, for example, what sort of advances you will be giving authors or if this will be another in the long list of vanity publishers out there. There’s a difference between being a publisher and a distributor.

      The Slovakian publishers seem to have cornered a part of their market.

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