Time is scrapping its digital paywall in a move that will make all content, including 100 years of archival material, free, effective June 1. It will apparently now work on an advertising model.
CEO Jessica Sibley made the announcement during Time’s the 17th annual TIME100 Gala.
“At Time, our mission is to provide trusted, quality storytelling about the people and ideas shaping our world, and to ensure that information is accessible to as many people as possible, regardless of geographic location or socioeconomic status,” Sibley said.
Sibley added, “We fundamentally believe that access to trusted information is a global imperative and should be available to all of humanity.”
The move was applauded by Hans Vestberg, chairman and CEO of Verizon, who was cited by Sibley as a leader in digital inclusion and accessibility.
“As a long-time digital inclusion advocate, it’s great to see Time’s efforts to advance and democratize access to trusted information,” Vestberg said.
Vestberg added that he is “a believer in the power of leaders and businesses coming together to find solutions that allow all to participate in the digital economy – and Time’s latest move is evidence of that.”
The gala, which took place at Frederick P. Rose Hall, home of Jazz at Lincoln Center in New York City, celebrated Time’s list of the world’s most influential people.