People locally really want to see what resonates with them.
"It's important for us to maintain a balance of local, regional and national advertising for the sustainability of the product and for market acceptance. The company, which has a policy against covering local politics or crime, makes around 85% of its revenue through ad sales, the overwhelming majority of which is local. The company added 18 new markets and almost tripled its subscriber base to over one million people in just six months. The newsletter-first publisher, which launched with a single newsletter in Greenville, South Carolina in 2016, currently covers 25 cities. "Once you've got that loyalty and that little community, you can build additional models on top of it and everything can kind of start to scale." 6AM City: $1m in revenue on $250,000 costs in each marketįor local news-focused newsletter publishers, expanding horizontally is a natural option to scale.įast-growing startup 6AM City is one example. So they'll start to have website presences and other channels that they'll look at as part of the growth story," says Newman. "What you'll see is a lot of these businesses that have started out as newsletter-first or newsletter-only will then push into other areas. The Skimm meanwhile has grown through adding podcasts, a mobile app, and online courses to its four newsletters. Both Axios and Industry Dive built multi-hundred-million dollar businesses out of dozens of specialist newsletters. Niche does not however have to mean small. While a few startups such as 1440 say they have managed to generate "an eight-figure revenue" through a generalist product, most newsletters focus on smaller demographics who can be sold premium subscriptions for specialist information or who make up verticals valuable to advertisers. Recent Hubspot acquisition The Hustle reaches some 2.5 million (mostly) men in business and technology. US media company The Skimm publishes The Daily Skimm newsletter whose 7.5 million readership are largely millennial women. Targeting reader niches is where newsletter-first publishers come into their own. Newsletter-first publishing makes talking to niches financially worthwhile
According to the 2022 Digital News Report an average of 17% of readers across 42 markets used newsletters for news each week. Use of email for news is particularly popular among older, more wealthy readers. Huelskamp adds: " is the original killer app." 1440's newsletter reaches 2m subscribers directly through its email of "impartial" news and claims a 55% open rate. "With email there's no platform risk," says Huelskamp.
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