Axate : Payment Tool for Media

Media, particularly print, has been affected by the Internet and digital media such as Google and Facebook. Media itself has remained lethargic about its revenue model, and expects others to try an appropriate model. Dominic Young with experience in News International and News Corp. launched Axate in 2018. It is a payment tool that enables publishers in the UK to avail of the paid subscriptions. Media available online can be accessed through Axate wallet. One can pay for a preferred article. This wallet works across the brands. The prices are set by the publishers. There are free offerings too after clicking to read a story, either for the rest of the day or week. Abroad, subscription-based models work for the market leader, say the New York Times. Others find it difficult to survive. In Axate model, the larger the network, the better it is. Currently, they have 30 British publications which use Axate. Most of these were previously free. They have some niche publications. There are wallet fill ups to keep them reading.

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