Scribd to Launch Subscription News Hub this Fall

By Rob Scott
July 20, 2011

Scribd — a Web site that lets users share reports, personal stories and recipes — revealed plans this week to launch a digital newsstand that provides a vast library of news to readers for a monthly fee, similar to the Netflix subscription service model.
The newsstand, named Float, is the latest in a collection of strategies that have attempted to make money from online news. Other news hubs include Flipboard, Zite, Pulse, News.me and Ongo.
Publications that are made available via Float will receive a share of the revenue after the subscription program launches this fall (although subscription fees and the amount to be shared with publishers have yet to be announced).
Float will introduce a free version this week featuring articles from 150 publications such as The Associated Press, People, Fortune, Salon and Time magazine (publishers participating in the free version will share in the advertising revenue).
Float will initially be available to consumers online and through an iPhone app, while Android and iPad versions are expected at a later date.

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