Subscription Media

a fascinating distinction between subscriptions (legacy media) & membership (creators) happening in real time— subscriptions: best content is paywalled because content is the only value membership: best content is free because the creator and the community is the value.

I now pay for 4 @SubstackInc newsletters which is ~4x my annual @nytimes subscription. 2 realizations: 1) the medium (newsletters) is personal, provides discourse & connects creator & consumer. it's an ideal model 2) cost modeling, need for bundling will be tested very soon

1/ I think Substack is in the process of deciding whether they want to take Shopify’s approach or Etsy’s approach, or some combination of both...