Time Inc, the publisher of more than 90 magazines, is now accepting bitcoin for select properties.
The integration was made possible through a partnership with Coinbase, California based merchant processing services provider. Consumers can now pay for digital and print subscriptions of Fortune, Health, This Old House and print subscriptions of Travel + Leisure using bitcoin.
Executive VP of consumer marketing at Time, Lynne Biggar, indicated that the company is seeking to make it easier for consumers to purchase subscriptions for its popular magazines, and that it sees bitcoin as a vehicle for this aim.
“We are always looking for ways to make it easier for consumers to engage with our brands and this pilot program will give bitcoin users a seamless and simple way to purchase subscriptions.”
Biggar further hinted that Time would potentially expand its acceptance to more properties “in the coming months”.
Time Inc. reaches more than 130 million consumers each month across multiple platforms. With this integration, bitcoin will help the company further engage and expand its audience by providing consumers with a convenient, secure and fast payment method for subscriptions.
Coinbase CEO Brian Armstrong said
“We believe this is an important step in helping the publishing industry understand and explore new business models that can be enabled with bitcoin. Micropayments, for example, provide an incredible opportunity for content creators and media companies, allowing consumers to make small payments for content in an open network for the first time. We look forward to partnering with Time Inc. to explore this and other new applications of Bitcoin in the future.”
Time Inc Now Accept Bitcoin