Newsletters are booming.
In 2020 the Post published a story on the growing trend of journalists giving up their jobs at established media houses to start their own “mini-media empires” leveraging newsletter platforms like Substack and the vast following they’ve gathered over the years.
That trend is growing, and it’s no surprise that Twitter and now Facebook wants in. Twitter acquired Revue for an unprefaced amount last week to expand its Ad-dependent business. It said the new acquisition will help the writers and journalist on the platform get more eyeballs on their content and even make money through paid newsletters delivered via email.
Facebook, too, doesn’t want to miss on the new trend and is working on a new product under its Facebook Journalism Project.
A new report from the New York Times alleges that the social media company is working on newsletter tools for writers and journalists. Facebook will build the feature right on the company’s giant social network. It will still be similar to offerings from other newsletter-focused companies, according to the upcoming product’s early stages.
Facebook’s newsletter product will help writers and journalists build a following and make some of their work through paid subscriptions, the report said.
“We’re exploring ways to help them [writers and journalists] benefit from the news products we’ve built, like Facebook News and subscriptions, while also building new tools to complement what journalists already find useful,” said Campbell Brown, vice president for global news partnerships at Facebook.
The company is working on jumping on the trend after Zuckerberg’s approval to prioritize the project. It remains to be seen when the company will add its newsletter feature officially and how the uptake will be.
Last week, Twitter Inc. joined the Newsletter craze by acquiring Revue and spotted working to integrate it into its central platform.