Subscription Media

Web2 content pricing is so broken: a subscription to 70 million songs costs the same amount as a subscription to one newsletter.

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)