Online readers of the Washington Post will have to start paying a subscription fee, or see the number of articles they can access limited, starting this summer.
The iconic Washington, D.C., newspaper’s parent, the Washington Post Company (NYSE:WPO) plans to erect a so-called digital “paywall” around its flagship publication’s content in order to boost revenue. The move follows similar strategies by News Corp.’s (NASDAQ:NWSA) Wall Street Journal and the New York Times (NYSE:NYT), Bloomberg notes.
In a statement, the newspaper’s publisher said the paywall was essential to fund top level journalism. Previously, the newspaper had rejected the idea of charging for online access. Pricing for the paywall has yet to be announced, but readers will have to pay after they look at 20 articles per month.
Dwindling print advertising sales have sparked a move toward raising digital subscription revenues by a number of newspapers. A paywall at the New York Times has led to 640,000 digital subscriptions to the iconic newspaper over the last two years.
In January, the New York Times said that hackers had breached its internal defenses looking for information about a Chinese official’s overseas fortune.
Shares of the Washington Post Company slipped fractionally in Tuesday morning trading.