There's no sustainable biz model for media worldwide: Axate's Dominic Young

Covid has proven the vulnerability of ad revenues. The problem with subscription is that it requires readers to make a commitment, says Young

Dominic Young, 52, has spent most his professional life with publishing companies (News International, News Corp). Two years ago he founded and launched Axate, a casual payment tool that is helping publishers in the UK switch to paid subscriptions. Since the Indian publishing industry is getting serious about subscription revenues, Vanita Kohli-Khandekar spoke to Young in London via Zoom. Edited excerpts:
 
What is Axate all about?
 
Axate is a way to pay for online media. Once you’ve registered and uploaded some money to your Axate “wallet”, you can use it to pay per article you access. The wallet