Last month, Imgur - an image sharing and hosting platform announced that they will be introducing a membership program. Coil, a micropayment tool will be funding $20 million to this program.
Subscribers will be charged $5 per month by Coil and it will then be distributed among creators according to per second spent on their work. According to reports, creators will get 36 cents and Imgur and Coil will have their share also.
The meme-oriented network has 300 million active users per month who will have access to all the content available on site. Instead, the focus will be on finding new creators and developing new features for subscription service.
The new subscription program will let Imgur generate revenue other than from ads only. Many other publishers have also tried hands at membership programs in order to increase subscribers.
YouTube introduced YouTube Red, a premium version where creators could generate more revenue and viewers have access to more quality content. However, later it came back to the usual format. Facebook introduced fan subscriptions where users could have access to more content by paying. Similarly, Amazon had Twitch program.
Imgur is different than the rest because of its grip on meme culture instead of high quality video content or live videos.
A social media consultant, Matt Navarra said Imgur is different than other social media platforms as it has the potential to attract crowd towards its meme niche. Though the creators here are still under-appreciated the memes can benefit brands and other platforms in their businesses to a great extent if used rightly.
Other platforms known for meme culture like Instagram, Snapchat and Tumblr have neglected meme creators through the revenue perspective.
Troy Osinoff, co-founder of digital agency Juice, said creators produce content without any reward and there are constant stealing issues on platforms. Whereas, this program will payback creators for their efforts and hard work.
Despite everything, the major task for Imgur is to bring maximum subscribers using Coil for business to flourish. As creators will be paid only if Imgur subscribers consume content instead of regular users.
Imgur is still relying on ad business, calling the platform as a place for positivity. From its hundred employees, 22 of them are in partnership with the platform, said the spokesperson of Imgur. For the site to flourish, it is important that creators are rewarded on time and only then the others’ will be encouraged as well.
Read next: This Subreddit is solely controlled by bots and they do a pretty good job
Subscribers will be charged $5 per month by Coil and it will then be distributed among creators according to per second spent on their work. According to reports, creators will get 36 cents and Imgur and Coil will have their share also.
The meme-oriented network has 300 million active users per month who will have access to all the content available on site. Instead, the focus will be on finding new creators and developing new features for subscription service.
The new subscription program will let Imgur generate revenue other than from ads only. Many other publishers have also tried hands at membership programs in order to increase subscribers.
YouTube introduced YouTube Red, a premium version where creators could generate more revenue and viewers have access to more quality content. However, later it came back to the usual format. Facebook introduced fan subscriptions where users could have access to more content by paying. Similarly, Amazon had Twitch program.
Imgur is different than the rest because of its grip on meme culture instead of high quality video content or live videos.
A social media consultant, Matt Navarra said Imgur is different than other social media platforms as it has the potential to attract crowd towards its meme niche. Though the creators here are still under-appreciated the memes can benefit brands and other platforms in their businesses to a great extent if used rightly.
Other platforms known for meme culture like Instagram, Snapchat and Tumblr have neglected meme creators through the revenue perspective.
Troy Osinoff, co-founder of digital agency Juice, said creators produce content without any reward and there are constant stealing issues on platforms. Whereas, this program will payback creators for their efforts and hard work.
Despite everything, the major task for Imgur is to bring maximum subscribers using Coil for business to flourish. As creators will be paid only if Imgur subscribers consume content instead of regular users.
Imgur is still relying on ad business, calling the platform as a place for positivity. From its hundred employees, 22 of them are in partnership with the platform, said the spokesperson of Imgur. For the site to flourish, it is important that creators are rewarded on time and only then the others’ will be encouraged as well.
Read next: This Subreddit is solely controlled by bots and they do a pretty good job
