Hoping to join the cash-for-content world of its media rivals, news service Reuters announced plans to put its website behind a paywall.
The move comes as Reuters.com will be given an overhaul that its chief marketing officer, Josh London, called “the largest digital transformation at Reuters in a decade.”
The announcement Thursday did not specify when the change will take place. Reuters covers breaking news around the world that it then sells to governments, corporations, law firms and other professional users.
The company said its professional users will be able to gain access to five free articles per month during a preview period before they will be asked to fork over $34.99 a month for a subscription — a price that matches that of its archrival bloomberg.com.
The Wall Street Journal, one of the first major news sites to go behind a paywall in 1996, charges $38.99 a month for a digital subscription.
The change comes after the company announced Tuesday that it had picked insider Alessandra Galloni to succeed Steve Adler as the editor in chief. The Italian-born journalist is fluent in four languages and has most recently been the global managing editor, overseeing its 2,500 journalists in 200 locations, a job she has held since 2015. She joined Reuters in 2013 after 13 years at the Wall Street Journal.
Galloni, who officially takes the baton on April 19, will be the first woman to head the global news organization in its 170-year history. One of her mandates is reportedly to boost the digital and events businesses at Reuters.
Adler announced in January he was leaving after a decade at the helm. In another switch, while Adler was based in New York, Galloni will be based in London.