'Why We're Freaking Out About Substack'
The New York Times explores whether Substack is just a company that makes it easy to charge for newsletters — or a new direct-to-consumer media that's part of a larger cultural shift? This new ability of individuals to make a living directly from their audiences isn't just transforming journalism. It's also been the case for adult performers on OnlyFans, musicians on Patreon, B-list celebrities on Cameo. In Hollywood, too, power has migrated toward talent, whether it's marquee showrunners or actors. This power shift is a major headache for big institutions, from The New York Times to record labels. And Silicon Valley investors, eager to disrupt and angry at their portrayal in big media, have been gleefully backing it. Substack embodies this cultural shift, but it's riding the wave, not creating it... A New York Times opinion writer, Charlie Warzel, is departing to start a publication on Substack called Galaxy Brain... The Times wouldn't comment on his move, but is among the media companies trying to develop its own answer to Substack and recently brought the columnist Paul Krugman's free Substack newsletter to the Times platform... [T]he biggest threat to Substack is unlikely to be the Twitter-centric political battles among some of its writers. The real threat is competing platforms with a different model. The most technically powerful of those is probably Ghost, which allows writers to send and charge for newsletters, with monthly fees starting at $9. While Substack is backed by the venture capital firm Andreessen Horowitz, Ghost has Wikipedia vibes: It is open-source software developed by a nonprofit... And it's easy to leave. Unlike on Facebook or Twitter, Substack writers can simply take their email lists and direct connections to their readers with them. Substack's model of taking 10 percent of its writers' subscriptions is "too greedy of a slice to take of anyone's business with very little in return," said Ghost's founder and chief executive, John O'Nolan, a tattooed, nomadic Irishman who is bivouacked in Hollywood, Fla. He said he believed subscription newsletter publishing was "destined to be commoditized." But Ghost represents an even purer departure from legacy media. More than half of the sites on the platform simply run the software off their own servers. "The technology is designed to be decentralized, and there's no one institution or one corporation that can decide what is OK," he said. The article also notes that Twitter recently bought the newsletter platform Revue, while Facebook "is developing ambitious plans for a rival that will provide a platform for local journalists, among other writers." And in a section on indie spirit, it adds as an aside that Bustle Digital Group "confirmed to me that it's reviving the legendary blog Gawker under a former Gawker writer, Leah Finnegan."
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