This is an interesting proposal and it’s not too different from what the music industry worked out…
Dylan Tweney

Thanks for the comment Dylan! Great to have your input. In response to your points:

The incentives for a site to opt out of the “shared paywall” and collect readers at the expense of everyone behind the paywall will be too high.

I see the threat here, though I also imagine that there would be a significant disparity in quality between paywalled and non-paywalled content — the former being well funded and responsible to stakeholders.

For that, and the concern about content being reblogged, I’d cite Gabe Newell’s take on the games industry beating piracy:

It’s not necessarily a question of price, it’s often simply about service. The idea is to create a publishing network that provides a genuinely good experience for readers. There are opportunities for content types in this model that publishers currently can’t afford to produce at the moment, for example.

The threat of content ‘outside of the wall’ pulling people away from paywalled sites is there, but they will also be struggling with monetisation and trust issues. The threat will also help to keep paywalled sites honest and driven to satisfy consumers.