Interest in proprietary trading, or prop trading, has grown exponentially in recent years. By 2025, the industry is estimated at $20 billion, with more than 2,000 active firms worldwide, most of them in the United States.
In that experience I came away thinking that associations could actually be stronger for their members if they had voluntary membership, Cofano said. A lot of members view their dues as a tax and that creates this negative tension between members and the organization, and that is always an uphill battle in delivering value. In many parts of the country; however, it was challenging to untie Realtor membership with MLS access, Cofano said, preventing any sort of meaningful change.
And he is wary of giving away too much without clear value in return. TMB - which owns brands like Reader's Digest, Taste of Home, and user-generated video licensing company Jukin Media - doesn't want to give LLMs wide access to its content. "We just don't want to hand over the keys," said Salamon at Digiday's Publishing Summit in Miami, Fl., in September.
The centerpiece of this initiative is Plus, a $5-a-month subscription tier designed to deliver smarter browsing as well as channel income back to publishers whose work powers its AI. At the core of Comet Plus lies a $42.5 million , earmarked for early participating publishers and slated to expand as more users join Comet Plus, one that Perplexity promises will expand over time. The model is built on a generous split: publishers 80% of subscription revenue, while Perplexity retains 20% to defray compute and operational costs.