This is an interesting proposal and it’s not too different from what the music industry worked out with radio stations a few decades ago — a workable, shared licensing system with the revenues collected from stations and distributed to artists in proportion to how much their songs are played. The problem is that the Web is so much bigger and more spread out. 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. Worse, those opting out will probably just be reblogging the original content behind the universal paywall, reducing the value of that original content.