Many publishers are centered on changing guests to subscribers, however there’s one other vital bracket: individuals who need to view a premium article or video, however not sufficient to enroll for a subscription. Fewcents, a Singapore-based fintech startup that allows publishers to take “micropayments” for individual items of content material, introduced as we speak it has raised $1.6 million in seed funding.
Fewcents can be utilized to monetize articles, video and podcasts. It accepts 50 currencies and is supposed to function a complementary stream of income to ads and subscriptions. Its present purchasers embrace India’s Dainik Jagran, which has a readership of 55 million; Indonesian news web site DailySocial; and streaming video web site Dailymotion. The firm, which monetizes by sharing income with digital publishers, additionally struck a partnership with Jnomics Media to develop in Europe.
M Venture Partners and Hustle Fund participated within the spherical, in addition to angel traders from a few of the high fintech, adtech and media corporations: Koh Boon Hwee (fomer chairman of DBS Bank); Kenneth Bishop (former managing director of Southeast Asia at Facebook); Jeremy Butteriss (head of partnerships at Stripe); Shiv Choudhury (companion and managing director of the Boston Consulting Group); Francesco Alberti (former APAC regional gross sales director for Bloomberg Media Distribution); Lisa Gokongwei-Cheng (Summit Media president); Prantik Mazumdar (Dentsu managing director), Saurabh Mittal (Mission Holdings chairman and founder) and Nitesh Kripalani (former director and nation head of Amazon Video India).
Fewcents was launched final 12 months by Abhishek Dadoo and Dushyant Khare (pictured above). Dadoo’s earlier startup Shoffr, an online-to-offline attribution platform, was acquired by Affle in 2019. Khare spent 12 years working at Google, together with as director of strategic partnerships in Southeast Asia and India.
In an electronic mail, Dadoo and Khare instructed TechCrunch that just one% to 5% of publishers’ energetic customers are prepared to commit to a month-to-month subscription. The majority are informal or referred customers, and publishers depend on promoting to monetize that visitors.
Content creators are experimenting with micropayments, and different companies embrace Flattr, which permits folks to make one-time contributions and Axate’s pay-per-article instruments. But publishers nonetheless debate how efficient the mannequin is and final 12 months, TechCrunch reported that Google determined not to launch a tipping function for websites.
To efficiently implement a pay-per-content mannequin, publishers not solely want to produce compelling content material, but additionally make it extraordinarily straightforward for folks to pay for it. For Fewcents, this implies fixing three key challenges, Dadoo and Khare mentioned. First, they want to create a ubiquitous platform, since informal customers received’t need to enroll for a brand new service each time they go to one other web site. It additionally wants to settle for cross-border payments in native forex utilizing the preferred cost strategies, like digital wallets. And publishers want to have the option to handle digital rights, like how lengthy somebody has entry to content material.
Publishers additionally want to decide worth factors that received’t flip away patrons, however will generate substantial sufficient income. Fewcents at present makes use of present visitors knowledge to manually worth each bit of content material. “Based on the supply-demand curve within each geography, we retroactively change the price to get the best revenue results,” Dadoo mentioned. “However, as we develop our AI algorithms, the intent is to dynamically suggest the pricing depending on the geography and the semantics of the content.”
Khare mentioned that by unbundling content material, Fewcents may present deeper knowledge than pageviews, serving to them perceive the preferences of particular markets and consumer segments, and develop custom-made “micro-bundles.” He added that Fewcents’ purpose is to have the option to mechanically advocate custom-made content material bundles for every consumer.