Time Inc. Partners with Coinbase to Become the First Major Magazine Publisher to Accept Bitcoin Payments


Fortune, Health, This Old House and Travel + Leisure, Now Accepting Bitcoin for Subscriptions

timeinccoinbaselogos_800x210

NEW YORK, December 16, 2014 – Time Inc. (NYSE:TIME) has partnered with Coinbase, the most popular bitcoin wallet, to become the first major magazine publisher to accept bitcoin payments. The initiative launched today with Fortune, Health, This Old House and Travel + Leisure, now accepting bitcoin among the wide variety of payment options for subscriptions.

“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,” said Lynne Biggar, Executive Vice President, Consumer Marketing + Revenue, Time Inc. "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, partnering with Coinbase to integrate bitcoin into their customer payment options.

“For a major publisher like Time Inc. to embrace bitcoin sends an important message to both its readers and to the broader media community,” added Brian Armstrong, CEO & co-founder of Coinbase. “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.”

Beginning today, anyone with a Coinbase wallet can use bitcoin to purchase subscriptions to Fortune, Health, This Old House and Travel + Leisure. To create a Coinbase account, visit http://www.coinbase.com/signup.


About Time Inc.

Time Inc. (NYSE:TIME) is one of the world's leading media companies reaching more than 130 million consumers each month across multiple platforms. Its influential brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Food & Wine and Fortune, as well as more than 50 diverse titles at Time Inc. UK such as Decanter and Horse & Hound. Time Inc. is home to celebrated events and franchises including the Fortune 500, Time 100, People’s Sexiest Man Alive, Sports Illustrated’s Sportsman of the Year, the Food & Wine Classic in Aspen and the Essence Festival. As of September 30, 2014, Time Inc. operated approximately 40 websites that collectively have over 100 million average monthly unique visitors around the world. The company also operates integrated publishing businesses that provide content marketing, targeted advertising programs, branded book publishing and marketing and support services.

About Coinbase

Founded in June of 2012 and based in San Francisco, Calif., Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin. It offers the most comprehensive bitcoin service on the planet, allowing people and business to easily and securely buy, sell, store and transact in the digital currency.

#  #  #

CONTACT:

Time Inc.
Maggie Schoonmaker
212.522.3735
maggie.schoonmaker@timeinc.com

Coinbase
press@coinbase.com