In brief: Add Reuters to the growing list of major news publications adopting a subscription-based model. The news organization, which got its start way back in 1851, said it is preparing to charge readers $34.99 per month to access stories on its website.
"Reuters.com will remain free for a preview period, but will require users to register after five stories," the publication said, before admitting it wasn't clear when it would start charging for access.
That may seem high but apparently, it is par for the course. A quick check of Bloomberg reveals a monthly rate of $34.99 for unlimited digital access. The Wall Street Journal, which has been behind a paywall since it first went online in 1996, currently commands $38.99 a month (both after promo periods expire) while The New York Times goes for $17 every four weeks. If you want to read the Financial Times online, it'll cost you $40 per month.
Reuters marketing chief Josh London described the move as the "largest digital transformation at Reuters in a decade."
Bloomberg cited competition from companies like Facebook, Google and Amazon for online advertising as one reason that news outlets are shifting to digital subscriptions.
Reuters earlier this week named Alessandra Galloni as its new editor in chief. When she replaces the outgoing Stephen J. Adler next week, she will become the first woman to lead Reuters in its nearly 170-year history.