CollegeHumor, a comedy website owned by holding group IAC, is launching DROPOUT, an ad-free subscription service.

Why it matters: It's the latest example of a publisher creating a new revenue stream and a new way to connect with its audience. Many internet users have become frustrated with advertising, and are willing to pay for content they like on a subscription basis.

Details: For now, the service is launching in beta. It will cost $5.99 for month-to-month access, $4.99 for six months and $3.99 for 12 months.

  • It will be catered to the site's niche audience of millennial mobile video consumers.

Driving the news: Like many other digital publishers, CollegeHumor is hoping to diversify its revenue stream with this offering.

  • About 40% of its revenue comes from advertising and about 60% is tied to content licensing through its production studio.
  • An executive tells Axios that the company has doubled its revenue in the past five years.

The big picture: CollegeHumor follows a number of IAC-owned publications moving into a subscription or membership model, such as The Daily Beast and Vimeo.

"In order for us to build a competing business within IAC banner, we don't need millions upon millions become members. We can be successful creating value at IAC at a number less than that."
— Shane Rahmani, Chief Business Officer

Go deeper: News turns to comedy in the Trump era

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Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:45 p.m. ET: 19,282,972 — Total deaths: 718,851 — Total recoveries — 11,671,491Map.
  2. U.S.: Total confirmed cases as of 9:45 p.m. ET: 4,937,441 — Total deaths: 161,248 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Warren and Clinton to speak on same night of Democratic convention

(Photos: Abdulhamid Hosbas/Anadolu Agency via Getty Images, Sean Rayford/Getty Images)

Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.

Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.

Trump considering order on pre-existing condition protections, which already exist

Photo: Jim Watson/AFP via Getty Images

President Trump announced on Friday he will pursue an executive order requiring insurance companies to cover pre-existing conditions, something that is already law.

Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.