Reuters News has unveiled a paid subscription website in an effort to woo business professionals, Reuters News reports.
The news brand has set a price of $34.99 per month for business people seeking deeper coverage and data on industry verticals. These include legal, sustainable business, healthcare and autos.
Coverage on Reuters.com will be free during a preview period, but users will have to register after five stories.
Reuters is only one of numerous news organizations that have instituted paywalls for digital subscriptions, including major general papers such as as The Washington Post and TheNew York Times.
The story says its financial news rival Bloomberg News charges $34.99 per month and The Wall Street Journal, the first to launch a paywall, in 1996, bills $38.00 per month.
“Professionals need direct access to industry knowledge, data and insights from expert sources, and Reuters is pleased to offer our trusted, impartial and accurate news coverage through a premium offering,” says Josh London, CMO for Reuters and head of Reuters Professional.
London also says the launch is “the largest digital transformation at Reuters in a decade.”
At present, Reuters generates around half of its revenue from Refinitiv, its biggest client, financial data specialist.
Incoming Editor in Chief Alessandra Galloni sees digital and events as top priorities, as does Reuters President Michael Friedenberg.
The story notes Thomson Reuters invested an estimated $20 million less than a decade ago to rebuild the website, then backed off in 2013 because the site was far from commercial viability or strategic success.