If you’re a small-time journalist or an indie writer that’s trying to gain an audience, manage subscriptions, and keeping in touch with your fans and followers, Facebook could have something in the works for you. A report from The New York Times has indicated that the company could be developing a newsletter feature aimed at such writers.
The concepts of newsletters aren’t new, but since the pandemic began in 2020, many writers started getting more serious about it as they had to find new means of making a living. Right now, Substack is one of the more popular options in the market today, boasting 250,000 subscribers and a list of top 10 publishers.
The company is reported to have made $7 million in annual revenue back in 2020, so it doesn’t really come as a surprise to learn that Facebook wants in on the action. With its already massive active user base, it wouldn’t be that hard for Facebook to try and leverage that to try and get more people on board.
Facebook is not alone in this as it was also recently reported that Twitter had acquired Revue, a competitor to Substack. However, in Twitter’s case, it seems that the company would much rather just buyout an already-available platform instead of developing one themselves.