Subscription Media

1/ Thread: Newsletter TAM Today I polled on twitter how many investment professionals pay for newsletter/research blog/substack subscription. Almost half responded: Zero. The other half who pays for subscription, more than half of them pays for only one... See more

Feel like there's a massive opportunity to buy ad-supported media brands at a discount right now and convert to subs Falling CPMs drops valuation, but if they have brand equity can convert a % to subs. then buy ads at that low CPM (which wouldn't work as a straight arb play)