Coil, the company providing an alternative and additive way for publishers to monetize their content, announced that 20 leading comedy and satire sites are now using Coil to stream micropayments from readers to publishers based on time spent reading their content.
Starting today, the Comedy Bundle using Coil and Web Monetization includes the following sites with more soon to follow: Reductress, The Hard Times, Hard Drive, Jumpkick, Robot Butt, The Nordly, Fancy Boys Club, Spooky Mag, The Whale-Lines, The Olognion, Pittsburgh Unfiltered, Duffel Blog, Weekly Humorist, Ladyspike Media, What The Fuss, and The Boston Accent.
“Now, more than ever, publishers are seeking new revenue streams,” said Stefan Thomas, Founder and CEO of Coil. “Web Monetization is an open technology that enables streaming micropayments to flow to publishers for every second a user spends on a story. It’s additive, leaving other revenue streams undisturbed, and gives publishers the freedom to decide what exclusive content, ad-free experiences, or other premium experiences they want to offer. At Coil, we’re proud to have made this technology accessible to everyone by making it affordable, privacy-preserving, and easy-to-use.”
“Ads are annoying. We hate them at Reductress as much as you do. So we’re so happy to offer our readers an ad-free experience and an easy way to support us and other independent publishers for just a few bucks a month,” said Sarah Pappalardo, Co-Founder and Editor of Reductress. “Starting today we’ll have exclusive content for Coil members, and we’re working toward a beautiful future where nobody has to see another belly fat ad ever again.”
Instead of throwing up paywalls, selling their own subscriptions, or selling out to a corporate owner, the sites will remain independent and offer exclusive content, ad-free browsing, and other perks to members. Coil will then share the money to the publishers according to how long readers spend on each of the sites.
“I think we all reached that breaking point, and now it’s an organic groundswell saying, let’s try this new thing,” said The Hard Times co-founder Matt Saincome, who organized the comedy collective. “We joke [that] worst-case [is] it doesn’t work out we’re right back to where we started. What’s that saying? ‘Desperation is the mother of all innovation’?”
Any publisher can activate monetization by simply adding the Web Monetization meta tag to their site or installing the Coil Web Monetization WordPress plugin. Once enabled, Coil automatically streams micropayments to the publisher’s digital wallet based on the amount of time Coil Members spend reading. The meta tag and Coil’s open-source WordPress plugin are intentionally designed to be interoperable with other Web Monetization service providers, providing publishers with more freedom of choice now and in the future.
Coil and Web Monetization is free to publishers. Coil charges $5 per month for people who want to support publishers and access a premium experience, including the Comedy Bundle.
More than a thousand Coil-monetized sites
Coil has been gaining traction lately. Coil is currently being used for Web Monetization by more than one thousand websites, increasing by 15% in a month.
It was only a few weeks ago that media giant Condé Nast started using Coil for Web Monetization of more than a dozen of its U.S. based brands (Allure, Bon Appétit, Epicurious, Glamour, Teen Vogue, Self, Pitchfork, GQ Style, GQ.com, Them, The New Yorker, Vanity Fair, and Vogue). Since then, Condé Nast expanded Coil to brands in Europe and Asia. Other technology-related websites like DEV and Hacker Noon have also selected Coil for Web Monetization back in mid-June.
For more information about Coil, visit coil.com.