Independent journalists prioritize community building for growth
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Illustration: Aïda Amer/Axios
Influential journalists who have positioned themselves as subject matter experts and amassed large followings are ditching traditional outlets to venture out on their own.
Why it matters: These independent journalists are grappling with the same challenges that many communication and brand teams face. That is, how do they differentiate themselves in the market and establish a strong reputation with the audiences that matter most?
State of play: As trust in media declines, independent journalists are pivoting away from writing for passive readerships and toward building a hyper-engaged community — and it's proving to be quite lucrative.
- The Free Press, founded by former New York Times writer Bari Weiss, boasts more than 155,000 paid subscribers and is estimated to generate at least $10 million annually from subscription revenue, per Axios' Sara Fischer.
- Former Bloomberg reporter Eric Newcomer announced that his independent media entity, Newcomer, brought in $2 million in revenue in 2024 and he has recently made his first round of hires.
- Former CNN reporter Oliver Darcy's Status newsletter has accumulated more than 70,000 total subscribers since its launch and is estimated to generate $1 million in annual recurring revenue.
- The latest big-name journalist to make this pivot is former Forbes editor Alex Konrad, who last month launched Upstarts Media, covering the startup ecosystem.
The big picture: The volatility of the news industry, paired with the growth of publishing platforms, has made independent journalism more appealing but has also led to more media fragmentation.
- The formats and distribution channels are also evolving, with news personalities like Jim Acosta and Chris Matthews hosting daily live shows on these creator-owned platforms like Substack, for example.
Between the lines: Independent ventures enable journalists to become hyper-specific on coverage areas and desired audiences — and it allows them to engage with these audiences as they wish.
- Konrad created a WhatsApp group for the founding subscribers to his Upstarts newsletter, in which he actively hosts conversations.
- Substack writer Emily Sundberg is known for engaging in real-time through her comments section.
Driving the news: Christine Choi, partner at early stage venture capital firm M13, gathered several journalists who ditched traditional newsrooms to build their own media empires — like Newcomer, Konrad, Polina Pompliano and Zack Guzmán — to help make sense of the evolving landscape for a room full of investors, founders and communication professionals.
- Media entrepreneurs like Business Insider co-founder Henry Blodget, Quartz co-founder and CEO of Charter media Kevin Delaney and Capital Allocators founder Ted Seides were also in the crowd.
What they're saying: In-person events are a major component of community building, Konrad told me during our on-stage conversation at the M13 event.
- "The media landscape and technological trends [are] pushing us towards community, towards a direct relationship with your audience," he said.
- "The most important thing about events is to have a moment where I can talk to a bunch of people that matter to [the startup] ecosystem and help them meet other people within the ecosystem.
- "It's not just revenue for me. It's about seeing that close connection with our audiences grow."
What to watch: AI is disrupting the way news is created and distributed, which will make that human connection and sense of community even more important, says Pompliano.
- "People trust people, and people want to subscribe to people," she adds.
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