Facebook’s ‘Bulletin’ shells out $5 million to recruit independent journalists

Facebook joins online subscription-based newsletter platforms

Facebook's 'Bulletin' shells out $5 million to recruit independent journalists

Facebook's 'Bulletin' shells out $5 million to recruit independent journalists

The social media company Facebook launched a newsletter product, ‘Bulletin.’ The new free and paid articles platform competes with the online subscription-based newsletter platform Substack.

The platform release, currently available at Bulletin.com, showcased the newly recruited writers in a live audio room on Facebook. The Facebook News Feed and Facebook’s News section will contain the articles and the podcasts from the Bulletin.

One of the most relevant marketing tools that have great potential to draw audiences’ attention is the email newsletter. The trending marketing strategy offers entertaining, engaging content to the target audience making it a core component in the advertising techniques.

The newsletter product in social media is gaining momentum and helps the writers sell email subscriptions creating a revenue generation model. Twitter also joined the force by acquiring the newsletter platform Revue.

Facebook informed that the writers could plan subscription prices for the newsletter. It has famous personalities and writers, like sportscaster Erin Andrews, author Malcolm Gladwell.

The Australian government pointed that Facebook is chargeable for linking the publishers’ stories. Afterward, the social media giant expressed intention to spend $1 billion in the news industry globally over the next three years, similar to Google.

As the company had planned to shift its product development and capitalize on private messaging and groups, these two essentially form a strong foundation for the newsletter business.

The historian Heather Cox Richardson one of the best authors on the rival platform has nearly 1.4 million followers on Facebook. Her annual subscription revenue is more than $1 million, and most of the subscribers are her followers from the Facebook page. Today newsletters are picking up pace since there is a vast opportunity for a win-win situation for both the company and the publisher with premium subscriptions, leading ad revenue, and building a loyal reader base.

The social media platform is investing $5 million to recruit independent journalists. The bulletin site is open for writers from all over the world.

Twitter operating a similar venture, aims to double its revenue and monetize on the subscribers and target 315 million users by 2023. Revue gets nearly 5% of the paid newsletter revenues as a transaction fee.

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