Forbes Ends $500 Guarantee for Contributors Who Have Seven Posts Published a Month

Forbes quietly restructured its pay scale for contributors amid the coronavirus pandemic, ending the $500 guarantee for any writer who had seven posts published per month and reducing the repeat-reader bonus from five cents to one cent. The cap on repeat-reader bonuses was also lifted.

In an email dated April 21 and reviewed by TheWrap, Rob LaFranco, the editor who oversees the consumer and business section at Forbes, explained, “In these unprecedented times, Forbes continues to report the news and cut through the uncertainty like no other news site. As most of you have noticed in terms of your own posts, we are hitting record levels of audience and engagement. At the same time, like every other media outlet, we are seeing reductions in the rates paid for our digital ads. As we affirm our commitment to our best-in-the-world contributor network, this is a necessary time to make sure that our contract with you remains sustainable for the long-term.”

He said that he and his team, along with a group of committed contributors, worked together on the plan. They found the existing half-a-cent rate for one-time readers and $250 guarantee for writing at least five posts to be “most important” to contributors and left those alone.

Also Read: Condé Nast to Lay Off About 100 Employees, Furlough Another 100

“Due to the surging traffic, we also have large numbers of contributors who are running into the cap on payment for repeat visitors at 100,000,” he wrote, moving onto the changes. “To many, any artificial cap on potential income seems very against what Forbes stands for. The cap was instituted because, while we want to encourage loyal followings (as best measured by repeat visitors), paying five cents per repeat is not viable for Forbes (or pretty much any site in the world). To rectify both of these issues, we will be shifting the repeat rate to one cent – and removing the cap entirely, so that your potential income is unlimited.”

In addition, the $500 guarantee for seven monthly posts was cut, as was a fractional pay amount on stories older than 90 days. Still, LaFranco wrote, “contributors have an opportunity to earn more than they have before,” given the removal of the repeat-visitor cap.

Forbes announced in February 2018 that it would begin paying all contributors, seven years after launching the contributor platform.

Representatives for Forbes did not immediately return a request for comment on how the new structure has been working.

Innovative Ways Stars Are Helping Out During the Coronavirus Pandemic (Photos)

Celebrities are using their influence and resources to provide assistance to the needed impacted by the coronavirus and the front line health care workers combatting the disease.

While many stars have donated money or performed in benefit concerts, some have gone the extra mile in terms of hands-on giving or simply spreading goodwill.

From John Krasinski's Some Good News broadcast to Bethenny Frankel's BSTRONG initiative, check out the innovative ways the stars are helping out during the coronavirus pandemic.
Photo credit: Getty Images/NBC
From action star to anchor! Since late March, John Krasinski has been posting new episodes of his Some Good News show weekly, with guest appearances from his wife Emily Blunt. Krasinski also convinced AT&T to give first responders three-months free cell phone service with a subscription to the carrier's FirstNet plan.
Photo credit: Getty Images
Prince Harry and Meghan Markle have been spotted delivering meals to the needy in Los Angeles, their new home after stepping back from royal duties and leaving the U.K.
Photo credit: Getty Images
Director Kevin Smith is bringing his fictional fast-food spot Mooby's to life, which now has a pop-up location in Hollywood. In April, proceeds went to No Us Without You, the fundraiser to provide food for families of undocumented restaurant workers during the pandemic. In mid-June, proceeds from the social distance pop-up will benefit Clean Up South Central.
Photo credit: TheWrap
Matthew McConaughey brought some joy to residents of a senior living facility in his native Texas, hosting bingo night virtually and calling out numbers.

The actor and his wife Camila Alves also raised funds to donate 80,000 masks to workers in Texas, Lousiana, and nationwide.
Photo credit: Getty Images
Eva Longoria, Danny Trejo and other Latinx stars joined forces with the League of United Latin American Citizens for the #ayudaenespanol initiative which has provided resources for the Latino community (in both English and Spanish). Minorities have been disproportionately impacted by COVID-19 and have higher fatality rates.
Photo credit: Getty Images
Halsey worked with Orange International Inc. to source 100,000 FDA-certified masks to donate to local Los Angeles hospitals.

"If you are on the frontlines, my heart is with you," the singer wrote on Instagram. "I am eager to redirect you to @givedirectly - A non-profit that allows you a way to give direct cash payments to vulnerable households in at risk communities, most of whom are single mothers."
Photo credit: Getty Images
"SNL" host Michael Che will pay one month's rent for all 160 apartments in the New York City Housing Authority building his grandmother lived in. She passed away from coronavirus complications.

"I know that's just a drop in the bucket. so I really hope the city has a better plan for debt forgiveness for all the people in public housing, AT THE VERY LEAST," the comedian posted to Instagram.
Photo credit: NBC
Not only did Kylie Jenner give $1 million towards the purchase of protective equipment to frontline health care workers, she also donated hand sanitizer produced with Coty -- a stakeholder in Kylie Cosmetics -- to the grateful workers at West Hills Hospital and Medical Center.
Photo credit: Getty Images
"Project Runway" winner and mentor Christian Siriano offered to have his sewing team create face masks for health care workers who are facing supply shortages.
Photo credit: Getty Images
Bethenny Frankel, who previously led crisis-relief efforts via her BSTRONG organization, raising money and supplies not only for COVID-19 relief but also those displace by tornados during the pandemic.
Photo credit: Getty Images
Andy Serkis, best known as playing Gollum from "The Lord of the Rings" films, decided to read aloud J.R.R. Tolkien's "The Hobbit" as part of a 12-hour "Hobbithon." He set a goal of £250,000 for the charity Best Beginnings through his GoFundMe and reached the top trending spot on Twitter. And of course he took the pains to do all the character voices as well.
Jamie McCarthy/Getty Images

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From good news broadcasts to meal delivery, these celebrities are giving a little extra

Celebrities are using their influence and resources to provide assistance to the needed impacted by the coronavirus and the front line health care workers combatting the disease.

While many stars have donated money or performed in benefit concerts, some have gone the extra mile in terms of hands-on giving or simply spreading goodwill.

From John Krasinski's Some Good News broadcast to Bethenny Frankel's BSTRONG initiative, check out the innovative ways the stars are helping out during the coronavirus pandemic.

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Innovative Ways Stars Are Helping Out During the Coronavirus Pandemic (Photos)

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