For years, the news industry has operated on a binary model: either the reader subscribes, or they’re shown the door. But what happens when nearly 90% of your audience chooses the door?
That question was front and center during a recent Editor & Publisher webinar hosted by publisher Mike Blinder, featuring media researcher and E&P contributor Jessie Shi and Wade Bradley, CEO and co-founder of Make it Free—a platform that offers publishers a third option for readers who won’t subscribe.
Shi, whose April op-ed in E&P challenged publishers to rethink hard paywalls, shared her frustrations as both a journalist and a consumer. On election night, she checked eight different news sites. “Six of them either had a paywall or forced registration,” she said. “That could cause audience frustration at a very critical time.”
She had seen this before. During the COVID-19 outbreak, she recalled that even the San Antonio Express-News, where she then worked, had essential health updates locked behind a paywall. “Readers were frustrated. I started to get direct messages on our social account: ‘Why are you paywalling critical public health information?’”
Shi, whose April op-ed in E&P challenged publishers to rethink hard paywalls, shared her frustrations as both a journalist and a consumer. On election night, she checked eight different news sites. “Six of them either had a paywall or forced registration,” she said. “That could cause audience frustration at a very critical time.”
She had seen this before. During the COVID-19 outbreak, she recalled that even the San Antonio Express-News, where she then worked, had essential health updates locked behind a paywall. “Readers were frustrated. I started to get direct messages on our social account: ‘Why are you paywalling critical public health information?’”
Shi convinced leadership to lift the paywall on one COVID timeline article. “That story actually converted around 600 subscriptions by the end of 2020,” she said.
Drawing from research by the American Press Institute and INMA, Shi argued that not all readers are “civically committed” subscribers. Some are “thrifty transactors”—people who may never subscribe but will engage with niche or occasional content. Her conclusion: “I just don’t think reader revenue and civic mission have to be exclusive.”
Blinder agreed, adding that Gannett, one of the few public newspaper companies reporting digital subscription figures, said only 7.4% of its total revenue in 2024 came from digital subs. “What happens to the 90% who bounce?” he asked. “That’s where Make it Free comes in.”
Turning ‘no’ into net revenue
Make it Free, led by Wade Bradley, is designed specifically for the readers who hit the paywall and walk away. The model is simple: a user who won’t subscribe can access an article in exchange for agreeing to receive four branded emails. The publisher earns 10 cents per unlock—and doesn’t lose anything from their current subscription funnel.
“Paywalls do their job. But this tool alone does not generate enough net revenue,” Bradley explained. “More than 90% of consumers are turned away at paywalls daily.”
Make it Free offers what Bradley calls a “front-end solution” to complement publishers’ existing back-end subscription platforms. “We don’t replace your paywall,” he emphasized. “We give you a new way to monetize the audience with no intention to subscribe.”
And it’s not just about stopping the bounce. “69% of consumers say they stop clicking links to sites they know are paywalled,” he said. “You’re not just losing them once—you’re eroding your brand in their minds.”
Who is Make it Free for?
Bradley made it clear that Make it Free is not meant to cannibalize subscriptions. “Your back-end paywall works really well for people with intention—people who want to subscribe. But that’s only 3 to 10% of your traffic,” he said. “We focus on the 90% who don’t want to register or pay.”
Make it Free offers these readers a clean interface, a clear value exchange, and a privacy-first experience. “All they need to do is enter their name, email, and password. They agree to receive four sponsor emails, and they unlock the article immediately.”
On average, 32% of users who click the Make it Free option convert, and they return to use it about 4.2 times per month. “This is not a one-off trick,” Bradley said. “It’s a habit-building tool that generates trust, engagement, and net profits.”
But what about the data?
Privacy is at the heart of the Make it Free proposition. “We never sell data. We never share it with brands,” said Bradley. “We tell consumers upfront: your data stays with us. That’s why they trust us.”
This raised a question from the audience: does the publisher get the email addresses?
“No,” Bradley confirmed. “We keep it private because that’s what consumers demand now. But every quarter, we will send your newsletter or subscription offer to those users. You get delayed emails—without violating trust and after you’ve been paid to engage them with your valued content.”
Bradley also explained that publishers can control the types of advertisers shown. “We offer a full list of categories. Don’t want ED ads? Fine. We’ll block them. You choose.”
Is this a viable revenue stream?
For publishers wondering about the bottom line, the math was compelling.
“For every million monthly paywall visitors you lose, you could be making up to $150,000 annually in net profit,” said Bradley. “That’s based on 10¢ per unlock, 32% opt-in, and repeat usage.”
And that doesn’t count the halo effect. “The more articles that get accessed, the more ad impressions you serve. And the more chances your editorial team has to make an impact.”
Bradley also emphasized that sharing boosts reach and revenue. “If a Make it Free user shares the article with a friend, and that friend uses Make it Free to read it, you get paid again,” he said. “You’re not just growing revenue—you’re building brand affinity.”
Blinder saw the broader implication. “If I’m writing award-winning content that only 10% of my audience sees, I’m failing the community. This helps fix that.”
Will this hurt subscriptions?
It’s the million-dollar question: If I give people another way in, won’t they stop subscribing?
According to Bradley, no. “We’ve seen no adverse impact on subscriber activity. In fact, we believe this helps you retain ‘budget-based churn’—people who unsubscribe due to finances but keep coming back. Now you have a way to keep them engaged and not build a new habit going elsewhere.”
By building that bridge, Make it Free not only generates revenue but also increases the chance that a former subscriber might return. “Access builds trust. Trust builds habit. Habit builds subscribers,” he said.
Industry adoption is accelerating
While Bradley declined to name specific publishers currently using the platform, he noted its rapid growth. “We went from three publishers in January to 171 today,” he said. “People are realizing this isn’t cannibalization—it’s monetization of the audience that’s been ignored.”
Perhaps the biggest surprise for him? How little data many publishers have about the audiences they’re turning away.
“We spoke to a large group,” Bradley said. “They told us, ‘We’ve never looked at how many people we’re losing at the paywall. All our reports are about shaving another nickel off our subscribers.’ That was eye-opening.”
A shift in mindset
In the end, Bradley framed Make it Free not just as a revenue tool but as a philosophical shift.
“This isn’t about giving away content,” he said. “It’s about reorganizing how we approach access. Consumers want free content without friction. Publishers want revenue without alienating their audience. We bridge that gap.”
Blinder, ever the publisher, wrapped it up succinctly: “You get more bees with honey. And if I can earn real money from people who were walking away anyway—that’s a pretty sweet deal.”
Comments
No comments on this item Please log in to comment by clicking here