With wallet services provided by Coinbase, Time Inc. will become the first major magazine publisher to accept bitcoin payments.
The initiative launched yesterday with Fortune, Health, This Old House and Travel+Leisure permits the magazines to accept bitcoin for subscriptions.
Lynne Biggar, Executive Vice President, Consumer Marketing + Revenue, Time Inc. noted:
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. We hope to expand our partnership with Coinbase in the coming months to create more opportunities to provide greater value to our customers.
Time Inc. joins a growing list of businesses, such as Overstock.com, Google and Expedia, that have partnered with Coinbase to integrate bitcoin into their customer payment options.
Brian Armstrong, CEO & co-founder of Coinbase, added:
For a major publisher like Time Inc. to embrace bitcoin sends an important message to both its readers and to the broader media community. 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.
Any user with a Coinbase wallet can use bitcoin to purchase subscriptions to Fortune, Health, This Old House and Travel + Leisure.