Monetizing existing audiences
Take Facebook, for starters. They've recently launched a newsletter service called Bulletin, which is a tool for independent creators to make their own newsletters on their platform. The idea here is that writers can reach their existing audience on a platform they've already committed to building friends on, instead of starting from scratch. Since there is already so much competition in the newsletter world (Hey, Substack and Revue, we see you!). And to get you believing in Bulletin's value prop, Facebook has signed on authors like Malcom Gladwell — a "trendy" writer known for his unique perspectives on popular culture. Let's see what's written in Bulletin's future.
Twitter has joined in by buying newsletter platform Revue earlier this year for journalists to publish more. These writers can then embed sign-up links on their Twitter profiles — taking a queue from Facebook regarding monetizing existing audiences. In fact, Twitter just launched its first local weather news service this month!
A need a dollar, dollar, dollar is what I need (hey, hey)
Axios, an American news website, is planning to pay writers with advances to incentivize them to join their platform. Sounds familiar? That's what Substack, an independent newsletter platform AND home to our Spark! with Shereen's newsletter, did to gain lots of writers and popularity during the pandemic.
What goes well with newsletters?
Substack recently bought Letter, a platform for public conversation and debate. Why this acquisition, you wonder? Because Letter is valued for its ability to instigate written debate, so Substack will be betting on its publishers to want to butt heads with others using words!
But let's tell you a secret: the real bucks are going to be realized when a platform is able to consolidate all your newsletter subscription content in one space, without tainting the publishers' intended readership experience. You heard it here first!