There was so much to read this week it was difficult to keep this short. Enjoy!
💯 Top picks
Our latest article includes short case studies of 11 successful premium newsletters, and outlines all of the steps you’d need to take to follow in their footsteps to create a membership business based around a newsletter.
💸 Business models
This article proposes the infamous “1,000 true fans” article by WIRED editor Kevin Kelly, needs to be revisited. It advocates for 100 true fans instead, who are high-paying super fans. The article also offers some recipes for earning $1,000 per fan!
“Since its founding in 2016, the company has gone from city to city and lured the nation’s best sportswriters away from their newspaper jobs in exchange for huge salary bumps and even a cut of the revenue they generate through subscriptions.”
“Emerging from a series of painful layoffs, the Singapore-based startup finds its way forward.”
Publishers aren’t seeing any negative results when they reduce the number of articles they write and according to this report, it can actually lead to an increase in revenue (34 page report, subscription required).
Forming habits & recurring behaviour is key for publishers to build a sustainable subscription business
A key metric for publishers running subscriptions is how active, or engaged, a reader is with the product. The more people come back, and the longer they spend, the more they’re likely to stick around. So how do publishers (re)create habits like reading a newspaper? Get the full report here.
“I’ve said this from the beginning,” she said, “and I continue to say this, but you can’t give away what you expect the reader to find valuable.”Jessica Lessin’s online tech publication costs $399 a year and has no ads. Silicon Valley’s elite is eating it up.
✍️ Modern journalism
“But will the Journal and The Washington Post be able to catch up to the market leader going forward? Or is the Times preparing to lap the field?”
“When media organisations and commercial companies work together on stories, it can put experts in the spotlight and offer a new source of revenue - but readers have a right to be wary.”
“The investment is part of YouTube’s $25 million commitment to news efforts.”
Increased competition for listeners in podcasting is making it more difficult for smaller publishers who need to change their approaches.
A new tool called MuckRack Trends offers a universal look at what journalists are writing about. It works like Google Trends, except for news articles.
As young people become more concerned with privacy and safety, the popularity of social platforms with this group is declining, in favour of private Telegram chats. Harvard Business Review takes a look at what businesses need to think about to adapt.