Monday, September 25, 2023

Quora users may now monetize their skills

In May, Yahoo! Answers turned off after helping the internet answer the hottest questions since 2005. But now Quora, which started as a Q&A site but expanded to include blogs, is making its platform more attractive to users.

Quora says it’s “on track to getting positive cash flow just for advertising,” meaning the platform is out of today’s world. However, Quora sees using the creator and customer economy as a way to make a profit.

Quora’s CEO, Adam D’Angelo, stated in a blog post that the company wants to make knowledge exchange more financially feasible for creative individuals. As a result, many individuals have driven to write on Quora and spend their time doing so. In order to contribute their expertise, while others are motivated to do so in order to make money.

Quora’s first new product is Quora+. Customers pay a monthly fee of $5 or an annual fee of $50 to access content creators want to put behind a payment wall. This is the same price that Non-Ad Media charges for its membership program.

Instead of paying specific content creators, customers pay Quora. Each subscriber’s payout is then distributed to content creators “in proportion to the number of each subscriber consuming their content, with most of the subscriber’s contribution going to the authors and the space followed by the subscribers”. Content creators have the option to enable a dynamic payment wall for Quora+ content. Which gives users free access to certain posts if Quora thinks they will switch to a paid membership. There’s also an “adaptive” paid wall option, which uses an algorithm to decide whether to pay for wall content on a case-by-case basis for a specific user.

Substack, A direct user blogging platform

Another option is for content creators to write payroll posts on Spaces that are like posts from Quora users. Substack, a direct user blogging platform, takes 10 percent of the author’s income, making Quora a competitive option. Authors who earn at least $180 per month will make more money on Ghost than they would on Quora. Writers can keep their revenues on other sites, such as Ghost, which charges a monthly fee of $9.

This meant that we would only receive modest payments going forward. D. Angelo claimed that we make enough ad revenue to fund the platform’s development and operation. Substack, on the other hand, does not have any advertisements.

Quora raised $85 million in 2017 and has 190 million monthly users. The blog article by D’Angelo states that Quora is used by more than 300 million people each month. Quora terminated one unnamed employee from its Bay Area and New York offices in January 2020, despite the company’s user growth.

English speakers in 25 countries, including the United States, may now subscribe to space. Quora+ diffusion will be faster because Quora invites selected authors to test the platform. And see what works best for subscribers and content creators.

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