Bitcoins have gained acceptance in the publishing world. Time Inc. announced Tuesday (Dec. 16) a partnership with Coinbase bitcoin wallet, making Time the first major magazine publisher to accept the digital currency.
"We are always looking for ways to make it easier for consumers to engage with our brands and this pilot program will give bitcoin users a seamless and simple way to purchase subscriptions,” Lynne Biggar, and executive vice president at Time Inc. said in a company news release. "We hope to expand our partnership with Coinbase in the coming months to create more opportunities to provide greater value to our customers.”
The Time-Coinbase relationship allows anyone to use a Coinbase wallet to purchase subscriptions to Time publications, including Fortune, Health, This Old House and Travel + Leisure. Coinbase has already established relationships with companies like Overstock.com, Google and Expedia.
“For a major publisher like Time Inc. to embrace bitcoin sends an important message to both its readers and to the broader media community,” Coinbase CEO Brian Armstrong said in the news release. “In addition to providing consumers with an easy, convenient way to pay for their subscriptions, it also opens the door for Time Inc. and publishers like it to familiarize themselves with the Bitcoin technology and explore new applications across the industry.”