A news industry ripe for disruption
Over the past decade, the news industry has stagnated. The “Facebook and Google are killing our business model” explanation has become a mantra for an industry that has failed time and again to find a response to disruptively competitive new digital advertising models. Google and Facebook now dominate online marketing, earning over 50 percent of total revenue, and now even publishers who can grow readership rapidly are not able to reach profitability.
By bringing together cloud-based publishing and big data technology, plus the innovation engine of cryptocurrency and the Blockchain, PressCoin plans to change this story. By raising $100 mln in its ICO and then growing at a disruptively fast pace, PressCoin intends to provide real competition to the platform giants in the news space within five years.
PressCoin (NEWS) utility token market growth projections
A new crypto-token (NEWS) will be used as the native currency inside PressCoin’s publisher and platform ecosystem. Publishers will be able to trade in content, traffic, and advertising using NEWS. They will also be able to sell subscriptions using the token. Readers will be able to earn tokens by providing value to the network through activities such as contributions, moderation and commerce, creating a golden circle of wealth creation for a beleaguered industry.
PressCoin’s market size modeling is based on three metrics: Gross Merchandise Value (GMV), Gross Domestic Product (GDP equivalent) and growth in monthly active users (MAU) across the network of platforms and publishers within the PressCoin ecosystem.
PressCoin begins using the size of the global news media and advertising economy, estimated to be between $700 bln and $1 tln in size.
Using the lower number, PressCoin estimates in its first year it will grow the NEWS Crypto Economy to represent 0.01 percent, or 1/10,000th of this global turnover, i.e. $70 mln in sales transactions executed in NEWS. “We start small. But as they say, well begun is half done,” PressCoin says in its blog revealing how it came up with the numbers.