AdTechMedia — the Moldovans who crossed the ocean to fight for better journalism
This article was initially published here: http://agora.md/stiri/21950/adtechmedia---moldovenii-de-peste-ocean-care-lupta-pentru-jurnalismul-de-calitate
You don’t get to hear about Moldovans* often, but when you do, it’s about enthusiastic people like the founders of Mitoc Group who recently created their newest digital product ready to be launched in the publishing industry — AdTechMedia.
*Moldova is a small Eastern European country with little over 3,5 mln citizens.
The story behind company’s name is a small village from Moldova called Mitoc, a village where one of the founders was born and raised. Driving their roots from Eastern Europe, Mitoc Group started as a technology company that focuses on innovative enterprise solutions. Avid fans of quality journalism, the current struggles of the publishing industry inspired them to take action and create their newest product.
Eugene Istrati, Co-founder @ Mitoc Group: “AdTechMedia is an innovative product which helps digital media and publishing companies monetize their journalistic work through new methods such as micropayments.”
A “micropayment” is literally a very small fee you pay for one part of a whole product. If we compare usual magazine subscriptions to a box of chocolate, customers who want to taste only one candy (to be read as “article”) have only one option: to buy the whole box (to be read as “subscription”). Micropayments help the “chocolate factory” generate revenue while offering the customers an enjoyable “pay per unit” option.
The problem of nowadays’ journalism is the old-fashioned way of making money. Articles are free for readers and advertising is most often their only revenue stream. With the rise of ad blockers, media companies started loosing their only financial resource. AdTechMedia helps publishers become immune to ad blocking software through technologies powered by cloud computing services like Amazon Web Services, where Mitoc Group is an official Technology Partner.
“It all started with a small experiment: we chose a couple of articles from The New York Times and The Washington Post, and we tested them out in a “white-label solution” approach. This is how it works: Readers get a glimpse of the article for free and, if interested, can unlock the full content. There are two simple, user-friendly unlocking options: do you want to pay from your pocket to continue reading or, instead, do you want to watch an ad and read it for free.” — related by Eugene Istrati.
The result is a win-win situation for everybody: the readers, the media companies and the advertisers. Media companies rebalance their revenue streams while journalists are motivated to create interesting content and improve the overall quality of online press.
According to Mitoc Group, the future looks bright and promising. Despite the fact they focus now only on big publishers, the team thinks that the future in publishing is in the hands of creative individuals who comes up with a good idea and is able to take it to the finish line. Mitoc Group is ready to become the trust-worthy partner of these entrepreneurs and help them generate revenue from online journalism.