Team members rely on these emails to know what's happening around the business. This is especially true for larger organizations where teams may be in silos. "It's not peak newsletters - it's the end of weak newsletters."ĭon’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.Internal newsletters are important tools for keeping teams informed company-wide. "But I'm sure the market for crappy newsletters few people are reading has collapsed," VandeHei said. Thanks for being you.' "Ī co-founder of Axios, Jim VandeHei, said his company's newsletter engagement was higher than ever, especially among influential readers. "You can win a Pulitzer Prize, and they don't say: 'Here's a nice chunk of change. "The salary that you get going in at newspapers rarely takes a leap," said Nunn, who got an advance from Substack. Sign-ups have increased steadily since then, and Nunn said her newsletter, The Department of Salad, provided much more income than any of her previous journalism jobs. Emily Nunn, a food writer who has worked for The New Yorker and The Chicago Tribune, writes a twice-weekly newsletter focused on salad that generated more than $20,000 in March 2021, the month after she began charging subscribers. Many writers continue to benefit from the burst of enthusiasm around newsletters. The New York Times is continuing to add to its newsletter offerings for subscribers, including one written by restaurant critic Pete Wells that just began as well as another by opinion columnist Ross Douthat, a spokesperson for the company said. This is not to say newsletters are going away any time soon. "You can't do a lot of rich, interactive stuff." ![]() "It's really hard to control the user experience in email," Giliberti said. Growth has since rebounded, said Chris Giliberti, Zestworld's CEO. But when user growth plateaued one quarter after the service had begun, Zestworld realised that email wasn't a natural environment for entertainment content and switched to publishing on its website. Zestworld, a digital comics platform, initially modelled itself on Substack, emailing graphic stories from creators signed to exclusive deals. ![]() Newer entrants are also swerving away from email after experimenting with the format. Substack, like the other privately owned newsletter startups, doesn't publicly disclose its finances or profit projections, but people familiar with the matter said in May that its revenue was about $9 million in 2021. "Email is a useful means to achieving that end, but it's not the end." "The secret sauce of Substack is enabling that sense of ownership and independence for the creator or the writer, and it's expressed through the direct relationship they have with their audience," McKenzie said. He said the company was more similar to tech platforms like Twitch and OnlyFans, which connect creators to financial supporters through a wide variety of formats including podcasts, not just email. ![]() In an interview, a Substack co-founder, Hamish McKenzie, said it was inaccurate to associate Substack with other media and tech companies that had cut back on newsletter products. "Substack really wants to be a platform that is sort of forward-facing and is about Substack," he said, adding, "We wanted to be our own independent media company." In an interview, Jonah Goldberg, the editor-in-chief and co-founder, said the publication "outgrew" Substack. One of the most-read politics publications on Substack, The Dispatch, moved off the platform this month. The Information, a publication that covers technology and finance, earlier reported on Substack's decision to cut advances. The New York Times has seen some prominent newsletter writers, including Kara Swisher and Jay Caspian Kang, depart for other opportunities.Īnd Substack has curtailed upfront payments it was making to lure writers to the platform, after scrapping plans to raise money and laying off some of its staff members, people familiar with the startup's operations said. Meta said this month that it was shutting down its newsletter service, Bulletin, which included writers such as Malcolm Gladwell and Mitch Albom. ![]() There have been setbacks for email newsletters elsewhere.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |