Will Big Media Survive Digital Newsletters?
PLUS: A look at blogger digital privacy rights and the threats facing the future of small business.
Fun fact: Some top winners of the pandemic, Jeff Bezos and Bill Gates announced stepping down from their CEO and board roles within 11 months of each other. Coincidence?
Digital newsletters are bad news for big media. Here's why.
Are digital newsletters here to stay?
The common reply is, “Meh, newsletter software has been around for years but people still got their news from major media pre-COVID.”
According to Forbes Falon Fatemi, that answer has merit.
But she believes that with over 30,000 major media job losses in 2020, there’s no going back. She thinks we’ll see a permanent transition from “large media publications” (fear and corporate-driven) to “individual creators” (personality and engagement-driven)... a no bueno for major news and social media outlets.
The key pandemic change in media isn’t shallow content; it’s deep engagement
Nic Newman from NiemanLab says that the slow adoption of digital newsletters can be explained by their first "low-tech" and "unfashionable" perceived nature.
While the first newsletter was invented in Ancient Rome and the first marketing email was sent in 1978, fewer than a third of Americans were subscribed to the combination of the two 4 decades later. The societal changes needed for digitized news in an email inbox moved a lot slower than the tech itself.
There’s no going back from the Substack-i-fication of society
As a result of this new normal, Newman and us make 4 predictions:
Generally speaking: Per Reuters Institute, subscriptions to "daily general newsletters" are the most popular (60%). Newman expects this trend to continue.
Leaving big media: Major media outlets like MSNBC and FoxNews have seen a major drop in viewership during the pandemic. Readers of these publications report frustration over the quality of their news articles. If big changes are not made, more readers will migrate away, meaning big opportunities for independent publishers.
Rise of personality: Subscribers are demanding more connection and access to personality. Indi newsletter publishers are answering. They see their newsletters as member-funded publications, art and a never-ending book. John O'Nolan, co-founder at Substack says, "This is my book! …it's never finished or frozen at a moment in time. The story is ever evolving, growing, and progressing."
Simplicity rules: In the new age of relentless distraction; subscribers seek simplicity. They are ditching loud ads and flashing tickers with simple design for focus and calm.
A few digital newsletter softwares worth checking out
Twitter, Facebook and LinkedIn plan to roll out digital newsletter add-on services. If you're looking for options that include paid subscription models, check these out.
Substack: Popular and good for beginners. Limited custom design with easy set up and free plan option, then 10% fee.
Ghost: Popular, open source with lots of technical customization. Publishers own their email lists and website code. Includes templates and plans start at $29/mo, (no subscriptions fees).
Revue: Embeddable forms, integrates with WordPress. Free plan, then 5% fee.
Our takeaway: digital newsletters and podcasts are here to stay. Add them into your business model to grow your audience and add revenue.
DIGITAL PRIVACY
It’s personal: on privacy of users and creators
Talking about privacy rights won’t bring sexy back. Seriously though, we too easily give up our personal information. The current health crisis makes this even more evident. The paradox? We are worried about our privacy after all. We do see value in guarding our personal data. But who is?
The Law: The Bill of Rights doesn’t mention a right to privacy. In the US, there’s no general federal legislation impacting personal data protection. No help there. Privacy protection is left to the states. However, their laws vary greatly.
When you collect user data, you need to know where they’re from. You may be subject to the California Online Privacy Protection Act, Nevada’s Senate Bill 220, or Europe’s GDPR and others.
But those laws don’t necessarily prevent companies from mishandling your data. Government and lobbyists made sure of this. Research shows that
information dragnets increasingly yield huge quantities of individual-level data, which are analyzed to sort and slot people into categories of taste, riskiness or worth.
The concept is not new. People’s personal data is a new asset class, the ultimate commodity, the new oil. Eureka!
The Impact: There are now a dizzying 1.7 Billion plus websites including 600 Million blogs. More than 2 billion people shop online and 63% of shopping journeys start on the web.
Bloggers and website owners are now competing over trust with their audience. This can be challenging if you’re not sure who your audience is.
The Takeaway: No matter on which side of the interface you find yourself: providing and collecting personal data has great implications and bears responsibilities. Both, for the user and website owner.
As users we need to make an effort to read (better: understand) the terms we are agreeing to. Let’s be scarce with providing personal data. Some good tips can be found at Geeks for Geeks, Forbes and CR.
As website owners we need to learn much more about our audience. Let’s work on building trust. A sound Privacy Statement for your website is a good start. Consult with a lawyer or use free resources such as provided by UC Berkeley, WikiHow or Termly.
SNIPPETS
Cyber Crime Nation - The Web of Profit research shows that global cybercriminal revenue is at least $1.5 trillion. It means that Cyber Country’s GDP ranks #13 in the world.
The Color of Water - Examination of satellite images from the past 34 years revealed that a third of the rivers in the U.S. have changed color from blue to green or blue to yellow.
Scribble no More - Indian researchers developed an AI system that converts images into a so-called Jordan curve to then create realistic drawings using a robotic hand.
The Nor Way - According to Norway's OFV they’re now the first country in the world where electric cars account for more than half (54%) of new car registrations.
The Future Beach is Green - Scientists are testing if Olivine, a green, volcanic mineral, ground up and dumped along beaches, can be used to pull tons of carbon out of the air.
Times Are a Changin - The earth has been spinning faster lately and some scientists are concerned about “true time”. This may mean goodbye solar time and hello atomic time.
The great reset: evil plan or saving grace?
As many crave to return to a post-pandemic normal the guys over at the World Economic Forum have different plans. They’re going for a Great Reset.
They’re promoting a new, more people-focused social contract. They want to correct (or reset) undesirable pre-pandemic trends in global health, finance, energy, education, and the environment.
But top-down system change directives are not received well by all. The right sees in it a globalist plot to change the world system leaving the rest of us impoverished, immiserated, and deprived of our liberty.
What’s happening here?
Change is inevitable but…
Scientifically speaking, people generally don’t respond to change very well. We are creatures of habit. It’s the “if it’s not broken don’t fix it” notion.
Some think the system is broken. Others believe it’s perfectly fine the way it is. So depending on your pre-pandemic experience you’ll either seek change or want to return to how it was.
Why are we fighting over this?
Divide and rule
It’s about power. Big companies use divide and rule to get their way. Even Thomas Jefferson greenlit this principle. The elites (left or right spirited) will do whatever to maintain their status quo. It aids them if we’re distracted and engaged in turf battles.
They want to see us skirmish over things like culture, religion, skin tone, party, and lifestyle. That’s when they make their big moves.
But we don’t have to play their game.
The future of resilience
Fueled by worry and frustration over an unchecked pandemic many fear the trends: more big tech, extremism, and surveillance; less small business, truth telling, and personal freedom.
But people take notice and take action.
Groups from across the political spectrum are creating micro systems to promote self-reliance, community empowerment, and civil liberty. They even manage to avoid the banking system.
Because smaller can be bigger.
There are many good reasons to come together across perceived division lines. It’s time to stop the hate. For example, a movement called The Greater Reset offers simple, refreshing but mind blowing ideas. Ideas ready to use to create a more meaningful and resilient life. And there are others. You should go check them out.
How do you want your future to look like?