Netflix

What’s working on Substack right now

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I’m currently subscribed to 27 Substack newsletters. Not all of those mail me anything regularly. But the ones that do have largely become my source of news, randomly interesting articles, and pop culture contact.

Since I write an email newsletter myself, every day, which you are reading right now, I’m very curious about the Substack phenomenon.

Could this be an opportunity for me? Should I start a persuasion-themed Substack newsletter?

Should I reposition myself as a Substack marketing expert?

Should I simply start publishing serialized fantasy literotica, inspired by Greek and Roman history, under some flowery pseudonym, and host it on Substack?

More on all those questions in a future email.

For today, I just want to share a bit of what’s working on Substack right now.

I recently signed up to Simon Owens’s Media Newsletter. That’s where Simon publishes his analysis of the media and publishing industry, including digital formats like Substack.

Owens’s most recent article says that across the media landscape, companies are struggling to corral new paid subscribers.

It’s not just Netflix, which I wrote about a few days ago. Other traditional and online publishers, from The Atlantic to Quartz, have either reached the limits to the growth of paid subscribers, or are actually seeing their paid subscriber numbers shrinking.

But as Owens says, “the longer you spend in publishing, the more you realize everything is cyclical.”

And so it seems the trend today in various publishing businesses is to loosen up the content behind paywalls… rely less on paid subscribers… and rely more on…

Ads.

Guess who’s back? Ads are back.

You’ve probably seen ads if you are signed up to any big-name email newsletter like The Morning Brew. The Morning Brew was bought a couple of years ago, for $75 million, on the strength of its advertising reach alone.

The Morning Brew has millions of subscribers. But even smaller newsletters, like Josh Spector’s For The Interested, which I wrote about recently, is making a healthy $48k per year, just by showing ads to a fairly small audience of 18k subscribers.

And what about Substack?

​​Well, Owens’s newsletter is hosted on Substack. And since the guy analyzes what’s working in media right now, you might conclude his own Substack might be a clue to what to do.

Owens does have a subscription option, but it’s only to be able to ask him questions. There is no content that is hidden behind the subscription. ​​

On the other hand, you can buy a 200-word ad in his weekly newsletter for $400.

Owens’s newsletter has fewer than 5k subscribers. Is $400 a lot of money just to reach some fraction of 5k people?

Apparently not, because the ad slot was filled in each of Owens’s recent issues. And perhaps it genuinely pays for the advertisers — Owens says that of his 5k subscribers, many are executives at big name media outlets or tech companies.

So what’s the point of all this?

No point. I’m just trying to give you a different perspective on how you can make money, even if you’re a hardcore direct response business, with a classic-themed daily email like this one.

The world is always changing. Exciting opportunities are popping up all the time. And the only thing that’s constant is the demand for ancient-Greece-themed fantasy literotica.

In other news:

I am not opening up my own daily emails to advertising, at least not yet. But if you’d like to read more articles like this one, and maybe see how I make money from my daily email newsletter, without ads and without a subscription, then you can sign up here.

A fun and easy email about “appointment marketing”

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I’m in this bantering WhatsApp group with a few friends that I studied with. In the group, we exchange stupid jokes and tabloid headlines, and we reminisce about times spent drinking together.

I’m very happy to join in all that.

But sooner or later, the conversation turns to Netflix and the shows people are watching. Whenever this happens, I sit there, a frozen smile on my face, with nothing to contribute, quietly desperate inside, waiting for the storm to pass.

I stopped watching TV a long time ago, and I completely missed out on the streaming revolution. I never got into any of the millions of streaming shows.

I wish my friends never got into them either, so I wouldn’t have to sit on the sidelines during the latest rounds of, “It was soooooo good, you should check it out!”

So it was with some malicious glee today that I read an article on Vulture, about Netflix’s recent troubles.

The article came out late last month, on the heels of news that Netflix lost subscribers for the first time in 10 years. Netflix’s stock price dropped 35% as a result, erasing over $50 billion worth of value in one day.

“Good,” I cackled to myself, rubbing my hands together. ​​

But you know what? I might not watch Netflix, but I do care what they do as a company.

Because like Ben Settle has been pointing out for years, we have entered the age of entertainment. Today, not only your education or selling, but even your entertainment, needs to be presold through entertainment and still more entertainment.

And who better to learn from than the hottest entertainment provider today? That’s why I figure Netflix’s hits and misses are both worth studying.

The Vulture article gives an interesting analysis of what has been going wrong at Netflix. The article deserves digging up and reading in full. Here I will share just one fun and easy thing with you.

Netflix innovated binge watching. All episodes of a show were dumped to the public at the same time.

That means you can spend a weekend in bed, eating Nutella out of the jar, and watching episode after episode of Bridgerton until nausea sets in, either from the show or from Nutella.

But while binge watching got Netflix a cult of rabid fans to start, it has its drawbacks, which are now surfacing.

One drawback is obvious. The lifetime of a binged show tends to be short.

The second drawback is less obvious. Many people like the opposite of binge watching, something the Vulture article calls “appointment TV.”

For example, knowing (once upon a time) that Seinfeld is coming on at 9pm every Thursday isn’t just about having a ritual for a Thursday evening for an entire year.

It also creates expectation and excitement.

It allows viewers to bond with their friends who are also watching the same show.

And maybe most important, it allows people the pleasure of sharing and converting others, getting you free publicity, and money money money.

So what exactly am I telling you to do?

Absolutely nothing.

​​In fact, if you remember anything from this email, remember my disappointed face whenever I hear the conversation turn to Netflix recommendations… and remember my fiendish cackling whenever I read about Neflix’s troubles.

Because I figure that for anything like “appointment marketing” to work, it takes more than just a regular schedule.

The content itself must be fun and easy. Even a hint of work or seriousness is probably deadly.

So in the interest of having you go on Twitter to share the latest Bejako email… or tell your friends that my newsletter is soooooo good and they havetocheckitout… I will stop myself here. And I will go peek in my WhatsApp group, maybe for some political memes to make me chuckle.

And on the next episode of Bejako…

Well, that episode will air tomorrow, at around 8pm CET, in your inbox, in case you sign up for my fun and easy email newsletter.

“Huge Hack if YOU Sell 5k-250k products or programs”

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Two months ago, in a private Facebook group, I saw a post by a well-known real estate investing guru:

Huge Hack if YOU Sell 5k-250k products or programs.
We found a LEGIT funding company that will finance your customers.
VERY Easy qualifications:
620 credit score
40k in income
They will pay you 100% up front of what ever you charge, and the customers payments to them will be fractional to anything they pay you!
We have literally 3 folded our income with them overnight.

The guru was offering to make an introduction to the company, and he didn’t reveal their name. In fact, I still don’t know.

But just yesterday, I saw that Flippa (the online business marketplace) has partnered with a company called Yardline.

So now, if you’re looking to buy an online business through Flippa, assuming you can jump through a few hoops, then you can get 250k from Yardline to finance your purchase.

I’m not sure what kinds of terms Yardline offers.

​​All I can say is that if I were looking to buy a business, I’d look for investment partners directly, rather than going through a company like this.

On the other hand, if you do sell a high-ticket offer, and you target people for whom that much money is an issue, then Yardline and similar companies might be something to look into.

​​If I’m reading the Facebook post above correctly, it sounds like an easy way to grow your income without changing your offer, your marketing, or really anything else inside your company.

Plus I think this is jut a bit of curious industry news. Because a few days ago, I speculated whether the direct response industry is at a “Netflix moment.” In other words, if we’re at a kind of tipping point, where things go mainstream.

I don’t think the emergence of companies like Yardline is any kind of hard proof of this. But it is another data point for you to consider… when you think about which direction you want to take your own career or business.

And if you want more direct marketing industry news and predictions:

I write a daily email newsletter. You can sign up for it here.