LONDON – Reuters is putting its website behind a paywall, becoming the latest business publication trying to attract a large number of digital subscribers.
The company is unveiling a new version of its website, Reuters.com, aimed at covering global business, markets and general news, it said on Thursday (April 15).
It plans to host live events and publish subscriber-only newsletters about the auto industry and the energy sector, among other changes.
Reuters.com will charge US$34.99 a month (S$45) for a subscription, according to the New York Times.
Excluding promotions, that’s the same price as a monthly digital subscription to Bloomberg.com and US$4 less per month than what the Wall Street Journal charges.
A digital subscription to the Financial Times is US$40 a month.
News outlets are betting on digital subscriptions as a way to grow as they struggle to compete with Facebook, Alphabet’s Google and Amazon.com for online advertising.
Business-news publications, which typically have affluent readers, have long charged for access to their websites.
The Wall Street Journal, owned by News Corp, introduced an online paywall in 1996. Nikkei’s Financial Times has charged for its website since 2002. Bloomberg.com unveiled a new paywall in 2018.
Reuters is owned Thomson Reuters Corp, which in January closed the sale of its data business, known as Refinitiv, to London Stock Exchange Group.
The announcement of a paywall comes days after Reuters named Alessandra Galloni as its next editor in chief, appointing a woman to the role for the first time in the news service’s 170-year history.
Bloomberg LP, parent of Bloomberg News, competes with Reuters in providing financial news and services.