Here's the model.
1. Publisher embeds Readability code on their site.
2. Subscriber reads sites through Readability application.
3. When the Subscriber visits a known Publisher, Readability records the visit.
4. At the end of the billing period, Readability dishes out cash, divided up according to how many times the Subscriber visited each known Publisher.
I understand this model well because it is almost exactly the same model I dreamt up in 2008, that Contenture launched with circa 2009 and that Kachingle filed a business method patent application for in 2007 (as I recall). Not long ago another such company / site, Sprinklepenny, was up for sale on flippr.
Because I am a big sook, I pretty much gave up on this idea in late 2009 when I learned about Kachingle and Contenture. Since then Contenture have quit the field. Kachingle has remained but their site basically seems like a social network for crazy cat ladies. Flattr have gotten awesome publicity because of the PirateBay connection, but their model is flawed in that it requires all parties to pay in.
I am hoping to get back into this space myself this year. My advantage is technological -- basically a secure tracking protocol that doesn't require a special application or any buttons to be clicked. Other than that I'm probably doomed to fail, but fuck it, so was every other successful startup of the last 10 years.
As a publisher, if your main body content isn't being detected automatically, probably because your HTML is awful, you can add some classes to the key elements to fix that. But that's not necessary.
There's also no need to register as a publisher to receive contributions. From their FAQ:
"Readability keeps track of pages visited even before a publisher registers with us to view their statistics. If your site has garnered traffic to Readability, we’re already earmarking money for you."
https://www.readability.com/faq/#view-plainGuidelines
However, you will need to register to actually get the funds.
http://www.nytimes.com/2011/02/01/technology/01read.html?_r=...
The move to all online content is actually a bit disturbing to me because, as a librarian, I see print magazines go under and leave libraries out in the cold in terms of getting the content to users. Paywalls are designed for individuals, not institutions. I hope the "one subscription" model might catch on as there's a way to include institutions in that mix.