Now in beta, startup Scroll is the new news kid on the block, hoping to change how people consume news while supporting a free press. For $5 a month, subscribers will be able to get an ad-free news experience from Scroll’s partners including The Atlantic, Gannett, Fusion Media Group, Business Insider, The Philadelphia Inquirer, Talking Points Memo, Slate and MSNBC.
Led by Tony Haile, previously CEO of Chartbeat, Scroll did a soft launch last spring. Starting with $3 million in funding from venture capitalists and three top publishers (Axel Springer, Newscorp and The New York Times), the company has spent the last year selling its idea and signing on strategic partners and additional investors. As Scroll has gained momentum, it is becoming the topic of news itself. In a March 1, 2017 post, Scroll described its reason for being:
‘There’s no shortage of great journalism online but it is overwhelmed and underfunded in a distraction economy that neither values the work or its readers. Despite increasing contortions and compromises, none of it has made the business of journalism any more secure,’ said Scroll.
‘We need to change the way we do things. We want to create a sustainable experience that puts amazing content in front of engaged users without all the distraction. We’re building Scroll to solve this problem,’ the company added.
Essentially, Scroll wants to improve the user experience by removing ads which will attract and engage more readers. By supporting publishers who won’t have to compete for ad revenue against other platforms like Google and Facebook, publishers can focus on quality journalism.
According to Nieman Lab, Scroll will share 70 percent of its subscription revenue with publishers, based on engagement between readers and specific publishers. For example, if a Scroll subscriber spends 15 percent of their time reading ABC Newspaper, then ABC Newspaper will get 15 percent of that reader’s subscription fee. Loyalty bonuses and other revenue sharing opportunities are also available, says Nieman Lab.
Last week, Scroll announced that Gannett was its newest strategic investor, giving Scroll the distinction of passing another milestone – deals in every major media category.
‘We’re excited to be both investing and partnering with Scroll to provide another option for consumers to interact with and pay for our trusted, high quality journalism,’ said Bob Dickey, Gannett CEO, of the relationships.
Poynter said that Scroll will launch in the second half of 2018 at a flat subscription rate of $5 per month.
‘We have a long road as we bring together more and more publishers on the path to launching later this year, but we’re thankful for the support and faith of this growing group of innovators, particularly our new investor Gannett, as we build towards an open web where premium content can make money by delivering the experience consumers want,’ said Scroll.
Insider Take:
With a team comprised of former staffers from companies including Chartbeat, Beme, Google, Foursquare and Spotify, Scroll seems to be off to a strong start. It is starting with a valid premise and a commendable goal – improving the user experience for news consumers and leveling the playing field for publishers struggling to find a business model that works – and some solid funding and partnerships to help lay a solid foundation. That said, there are other companies (e.g., Medium) who have also attempted to change how people consume and pay for news that still haven’t quite nailed it.
It is far too soon to predict whether this particular venture will be successful, but we love that this team is trying to do something different. Frictionless news consumption and sustainable publishing models are complex problems to solve, but problems worthy of tackling and this team seems to have the experience and the passion to give it a shot. We wish them well in their endeavors and hope, at the very least, they’ll move the ball forward and inspire others to find the right balance between the needs of users and news organizations.