Subscription Media

The New York Times is using bundling better than any subscription product I can think of. The reason their bundle is so powerful is because they minimize SuperFan overlap, and maximize CasualFan overlap. Not sure what that means? Here's a breakdown on bundling strategy 🧵

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)