Notes seems like a great opportunity for creators to diversify their presence off Twitter and LinkedIn. Once Substack allows for mentioning using @ could be a game changer
If it comes to it perhaps an annual subscription like Spotify or Netflix - so many good writings but it gets expensive for the reader to pay for all (limited my means not meanness). Also, prevents echo-chamber risk whereby one only reads/buys writers one agrees with (where there’s an issue being debated). In this case, perhaps Substack could link to a writer with alternative points of view where there are two or more sides.
A buffet model will work. Subscribers pay $X per month for access to Y number of articles/authors.
Same concept as cable bundles but with more customization. No contract, subscribers can add/remove/replace authors at will. Premium authors can charge premium pricing (based on popularity, frequency, etc) - same concept as an auction draft in fantasy football. Subscribers have an option to pay extra for ad-free articles, or “pause” subscriptions temporarily, etc.
I agree that paying $5/month to every writer I enjoy is not practical. Gotta find a middle ground somewhere. The topics I enjoy today are different vs 6 months ago, and canceling subscriptions is a hassle.
Just because you won't pay doesn't mean that others think like you.
Linear television became divided into ad-supported broadcasting network and subscription-based cable channels.
The same will happen to online content. The mass-market content that you're presumably interested in will remain ad-supported. The niche, higher-quality content will move to a subscription model.
What you'll find is that for "nice to have" publications, it's getting increasingly hard to charge more than say $7/month. Hard to compete with the scale of NYT.
But if your publication helps finding unique investment ideas, or can be expensed by your company, you'll have no problem finding subscribers even at US$30/month+.
It’s very much a meritocracy and intensely competitive. People pay to gain access to paywalled content that they value or to support a writer’s overall work. The vast majority will not pay but a small percentage of a large enough free subscriber base can form the foundation for a viable business. But the quality must be there. No one is going to pay for undifferentiated content.
Substack is not currently profitable and I am not sure that the business model, in its current form, is going to scale to profitability. That's a definite concern in the long run.
Well, the notes feature itself is free to writers and readers. There is no requirement to subscribe to anything in order to use notes. Subscription fees come into play only when writers charge for content. The overall model is not a bad one from the perspective of readers and writers. What I'm not sure about is how Substack scales up enough to make the business model profitable. The financials for 2020 and 2021 linked to in this post reveals a business model that is far from profitable.
Apr 12, 2023·edited Apr 12, 2023Liked by The Rational Walk
I understand that, but every f'n poster I see wants me to subscribe to see 'premium' content. And I have no idea who 2/3 are.
And when I go to startt my OWN substack, it offers to set up my own subscription service at a minimum of $5 month. I'm flattered, but not stupid.
And I don't need to look at any financials to tell you the folks running this have very little business acumen... and I've been here all of half a day.
I can say from experience that it is very hard to build a business justifying a full-time effort around Substack subscriptions. Some people have done it and I might give it another attempt at some point using a different model, more along the lines of Doomberg vs. reports on individual companies that were the centerpiece of my attempt last year.
Notes seems like a great opportunity for creators to diversify their presence off Twitter and LinkedIn. Once Substack allows for mentioning using @ could be a game changer
Notes already allows @ mentions! Seems like this should be integrated into comments as well.
If it comes to it perhaps an annual subscription like Spotify or Netflix - so many good writings but it gets expensive for the reader to pay for all (limited my means not meanness). Also, prevents echo-chamber risk whereby one only reads/buys writers one agrees with (where there’s an issue being debated). In this case, perhaps Substack could link to a writer with alternative points of view where there are two or more sides.
A buffet model will work. Subscribers pay $X per month for access to Y number of articles/authors.
Same concept as cable bundles but with more customization. No contract, subscribers can add/remove/replace authors at will. Premium authors can charge premium pricing (based on popularity, frequency, etc) - same concept as an auction draft in fantasy football. Subscribers have an option to pay extra for ad-free articles, or “pause” subscriptions temporarily, etc.
I agree that paying $5/month to every writer I enjoy is not practical. Gotta find a middle ground somewhere. The topics I enjoy today are different vs 6 months ago, and canceling subscriptions is a hassle.
Sorry. It’s not with this business model.
I’m not paying a minimum of $5 mo per contributor, per month… on any f’n platform
And I really don’t see how anyone can think that is a viable marking plan, whatsoever.
Just because you won't pay doesn't mean that others think like you.
Linear television became divided into ad-supported broadcasting network and subscription-based cable channels.
The same will happen to online content. The mass-market content that you're presumably interested in will remain ad-supported. The niche, higher-quality content will move to a subscription model.
Sure they will. We'll have to see in 6 months if this model is still bing pimped.
Could be your right, after all there are a substantial number of dimwits who think a $5 starbucks is a good deal.
Maybe thats the audience their looking to tap into.
What you'll find is that for "nice to have" publications, it's getting increasingly hard to charge more than say $7/month. Hard to compete with the scale of NYT.
But if your publication helps finding unique investment ideas, or can be expensed by your company, you'll have no problem finding subscribers even at US$30/month+.
Whatever.
Sorry if I hurt your feelers.
Lol. I couldn't care less
It’s very much a meritocracy and intensely competitive. People pay to gain access to paywalled content that they value or to support a writer’s overall work. The vast majority will not pay but a small percentage of a large enough free subscriber base can form the foundation for a viable business. But the quality must be there. No one is going to pay for undifferentiated content.
Substack is not currently profitable and I am not sure that the business model, in its current form, is going to scale to profitability. That's a definite concern in the long run.
It's guaranteed to fail with this business model.
In a recession, ask $5/mo per contributor/ per month. Brilliant idea. Right in line with the competitions price of... $0/month.
Whatever braniac came up with that should be handed their walking papers and ass in a box.
Well, the notes feature itself is free to writers and readers. There is no requirement to subscribe to anything in order to use notes. Subscription fees come into play only when writers charge for content. The overall model is not a bad one from the perspective of readers and writers. What I'm not sure about is how Substack scales up enough to make the business model profitable. The financials for 2020 and 2021 linked to in this post reveals a business model that is far from profitable.
I understand that, but every f'n poster I see wants me to subscribe to see 'premium' content. And I have no idea who 2/3 are.
And when I go to startt my OWN substack, it offers to set up my own subscription service at a minimum of $5 month. I'm flattered, but not stupid.
And I don't need to look at any financials to tell you the folks running this have very little business acumen... and I've been here all of half a day.
I can say from experience that it is very hard to build a business justifying a full-time effort around Substack subscriptions. Some people have done it and I might give it another attempt at some point using a different model, more along the lines of Doomberg vs. reports on individual companies that were the centerpiece of my attempt last year.
This venue is being pimped that it's meant to compete with twitter...
And that's a very long stretch,.