It is hard to imagine life without Wikipedia today. Almost all of us find ourselves visiting the website every day. But, one question that arises is: What is Wikipedia’s business model?
So, how does Wikipedia make money? The website employs around 35 people and registers around 350 million users every month, which makes it the 5th most visited website all over.
But, for such a popular website to sustain, money is needed to see through the costs of servers, maintenance, and staff.
Wikipedia is a non-profit website that is aimed at making the internet a better place for people. Of the tools that you have at your disposal on the internet, Wikipedia’s free online dictionary is perhaps the most useful of them all.
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So, how exactly does Wikipedia make money? Well, Wikipedia is a part of Wikimedia and being a non-profit organization, it makes money in ways that you probably have never thought of.
Around 99% of Wikipedia’s revenue comes through its reader donations. Yes, the readers who visit Wikipedia every day donate small amounts of money to the website to keep it in the business.
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But, when you talk about a website of Wikipedia’s stature and popularity, even if every user makes a small donation, it would accumulate to a colossal amount. In fact, the numbers support this fact. In 2016, Wikipedia received more $75 million from 4 million readers!
If you break down the figures, the average that every person pays is not more than $15. But due to the vast outreach of Wikipedia, it becomes easier for it to earn money.
However, user satisfaction remains their top priority, and they make sure that they don’t bug their readers for donating money to them. The donation banner is placed subtly on the website, so that it doesn’t hinder with the content and Wikipedia makes sure that the donation box is not visible to a person who has already made a donation.
So, if you want to support your favorite online encyclopedia, all you have to do is to make a small donation. But, how to donate to Wikipedia? Like we discussed above, you can find a small box that asks for your donation. All you have to do is to click on it, and then you’ll be taken to a payment page where you can make your donations.
Remember that Wikipedia never forces you to pay the money that you don’t want to. You don’t necessarily have to donate huge amounts of money; even something as low as $5 will be appreciated.
What makes up the remainder 1% of the revenues is the goods that are sold on the Wikipedia store. You can purchase items like t-shirts, notebooks, and other stationery. But, the money that the Wikipedia store raises is nothing compared to the reader donations.
Wikipedia is the best place for all your online queries. And the company knows its social importance too. That is the reason that they constantly keep on updating and upgrading their servers and talk to people to get the maximum feedback. While fundraising is not their priority, it is always encouraging to pay a small tip for someone’s valuable services. And, there are a very few services on the internet that come close to the might of Wikipedia.
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