May, Yahoo! Since 2005, Answers has been shut down after helping the Internet answer its pressing questions. But now, Quora started as a question and answer site, but later expanded to include blogs, making its platform more attractive to creators.
Quora stated that it “is expected to generate positive cash flow only from advertising”, which means that the platform is not currently at a loss. But Quora sees the use of creator economy and subscriptions as a way to make money.
“We hope that knowledge sharing will be more financially sustainable for creators,” Quora CEO Adam D’Angelo wrote in a blog post. “Although many people are motivated and may spend time writing on Quora just to share their knowledge, many others can also share more because there are economic reasons for doing so.”
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Quora’s first new product Quora+: Subscribers will pay a monthly fee of US$5 or an annual fee of US$50 to access any content the creator chooses to place behind the paywall. These fees are the same as those charged by Medium without advertising for its membership program. Subscribers will pay Quora instead of selected creators. Then, the remuneration of each subscriber will be “distributed to creators in proportion to the amount of content consumed by each subscriber, and subscribers will make greater contributions to the author and space that subscribers follow.”
Creators can choose to enable dynamic pay zones on Quora + content. If Quora thinks they may become paid members, users can access certain posts for free; there is also an “adaptive” pay zone option, which uses an algorithm to determine Whether to pay for specific users for paywall content based on specific circumstances. This should help creators strike a balance between monetizing content and expanding audiences to find potential new subscribers. Quora told TechCrunch that it is still experimenting with Quora+, but can’t say what percentage it will get from subscriptions. Another option is for creators to write pay zone posts on Spaces, just like users create posts on Quora.
Quora will charge 5% of the subscription fee, and creators can choose by themselves; in contrast, direct consumer blogging platform Substack accounts for 10% of authors’ income, making Quora a competitive alternative. Other platforms such as Ghost require a monthly fee of $9, but allow writers to keep their income; for writers who earn at least $180 a month, Ghost will make more money than Quora. “We can continue to promise to charge only the minimum fees without increasing fees in the future because we have obtained enough revenue from advertising to fund most of the development and operation of the platform,” D’Angelo wrote. At the same time, Substack is ad-free.
Quora, after raising $ 85 million, reached a valuation of $ 1.8 billion in 2017, when the platform had 190 million monthly users. Now, according to D`Angelo’s blog post, more than 300 million people use Quora every month. Despite the surge in users, Quora layoffs at its Bay Area and New York City offices in January 2020, an unknown number. Today, 4,444 Space subscriptions will be launched for English users in 25 countries, including the United States. The Quora + launch will reduce Quora’s immediate invitation to select authors to test the platform and determine the most suitable content for subscribers and creators.