Aggregation without compensation is aggravating, any online journalist and publisher will tell you.
Now a San Francisco start-up named Fwix hopes to shake up the online content and distribution model with what it calls the first monetizing local newswire.
With an eye toward the expected 5% increase (to nearly $14 billion) in local ad spending next year, Fwix’s new AdWire brings all local news together, then marries it with relevant local advertising.
Publishers can add AdWire to their sites, display whatever local news they want, and earn ad revenue. Here’s where it gets really interesting: The original authors of the articles being displayed by Fwix also get a cut of the revenue.
“Our vision is to bring local news content together and reward the major parties involved with the revenue and audience they deserve,” Fwix CEO Darian Shirazi said in a prepared statement. “With AdWire, we have developed an intelligent and efficient revenue model that now supports both content creators and publishers.”
AdWire takes only a few minutes to add to any Web site, Fwix says, and publishers who use Typepad, Blogger, WordPress or Tumblr will find it even easier to install AdWire into their blogs.
One beta tester of AdWire has been political blog RawStory.com. In a statement, publisher John Byrne said, “The return has been great. AdWire is competitive with other ad networks, but absent the headaches of banner advertising.”
Content creators and journalists can register with AdWire to get a piece of the revenue.