New York Magazine parent New York Media is the latest publisher to put its content behind a paywall. Starting the last week of November, New York Media will begin charging $5 a month or $50 annually for access to its Web sites, which include NYMag.com, Intelligencer and Vulture.
New York Media joins a growing number of publishers, including Wired and Vanity Fair, that are adding paywalls as revenue from advertisers continues to decline with more brands allocating the bulk of their budgets to Facebook and Google.
The trick now for these publishers will be convincing readers, accustomed to getting their online content for free, to pay for it. Consumers are only willing to pay for so many subscriptions, and the competition for their wallets is getting more intense every day.