Maybe Facebook can make micropayments a reality for the media industry.
I'm sure that Facebook can be trusted.
[insert favorite eye-roll emoji]
Enter Facebook. The social network has been working on a not-so-secret plan, Project Libra, to build a blockchain of its own, which will come with its own currency—something that will likely be called Facebook Coin.
If this is what unfolds, it could finally solve the problem of micropayments by giving everyone something they can easily spend and ...
Was that journalism malpractice by saying "everyone," which would include me, even though I don't have a Facebook account?
Will non-Facebook users be able to use Facebook Coin? Unlikely.
Maybe the writer meant "everyone" who has a Facebook account, which is at least 70 percent of U.S. adults who have Internet access.
If this occurs, Facebook will find a way to track user purchases.
If Facebook Coin becomes a reality, then I predict that desperate media orgs will lose their souls yet again to the silo world.
Dutch news aggregator Blendle plans to stop selling individual news articles via micropayments and will focus instead on its premium subscription service
Here are a few reactions attached to that Mediagazer link. Naturally, these comments were posted to Twitter, which I won't link to anymore.
Take an old idea that's known not to work (consumer micropayments) 2. BUT SEE WHAT IF IT WORKS THOUGH BECAUSE SAVING JOURNALISM SOMETHING SOMETHING
So the thing I will never understand about micropayments as a strategy is how they constantly push additional cognitive load on readers. Why not move the load to the publications?..
I have my new macro key for the next time a tech entrepreneur pitches me on micropayments as the ultimate savior for publishers
Savior? When Apple released the iPad in 2010, that was suppose to save journalism.
Blendle was the highest profile experiment to make per-article pricing work in news. But now, it is shutting it down.
I mean, I wish someone had predicted this:
This continues a long streak of micropayments for news not working
Does that mean micropayments should never be tried again in the future by any publisher? I hope not. Maybe the previous failures were due to poor execution.
Speaking of failures, how come the same mindset is not applied to other aspects of the media industry?
Media websites are polluted with ads. Success or failure? It must be a runaway success to bloat websites with ads because media orgs continue to do this even for subscribers. Brilliant.
Media websites are among the worst designed websites on the planet, using reader-hostile designs that belie decency. These horrendous designs must be wildly successful, since nearly every media org does the same things.
Over the years, media orgs have enslaved themselves to big tech, losing their independence by becoming heavily dependent upon referral traffic from sites, such as Google and Facebook. Building or expanding a business based around referral traffic from big tech is unlikely to succeed in the long term, but why do so many media orgs do this?
Ad pollution, wretched web design, and enslavement to big tech, why do media orgs continue use these losing strategies? Trying to use micropayments is a more worthwhile attempt at innovating. If media people poo-poo micropayments, then they need to refocus their attention to the media's other losing strategies.