Neither format is new, but as reaching and attracting traffic becomes increasingly difficult, news publishers are looking for opportunities to build sustainable audiences.

Newsletters create lucrative partnership opportunities

Black Ballad is an independent lifestyle magazine for black women. It has been running for almost a decade now and is proof that self-help organizations can be successful if they stay focused on their mission and audience, rather than getting distracted and chasing trends to make money.

To date, they have nearly 1,500 paying members who get early access and perks ranging from events to partnerships.

But more than anything, Black Ballad exists to address issues that many black women feel aren't being adequately addressed. Co-founder Tobi Oredein noted at the Newsletter Summit that "people build connections with people, not brands," and that black women have always felt ignored and underrepresented in the media.

Every Friday night, Black Ballad has an email newsletter sent to members that includes key articles, new partnership offers, and updates from within the organization. Tobi says each topic is about what black women need to hear that week or what she’s feeling in her personal life.

Tobi's founder shares a lot in this newsletter, which makes her extremely selective because it's so closely tied to her reputation, but also helps add value to potential partnerships.

Quality over quantity

Once you have a niche audience, quality will definitely matter more than quantity, from the types of content produced as well as the volume of members or readers.

A publication called Reby Media has five different podcasts about specific industries or experiences, from the brewing industry to pregnancy. Creator Jon Young says the need for these columns began with looking at the market situation, which allowed him to focus on specific business partners.

Young says audience growth isn’t his top priority. Instead of aiming for scale, he wants to make sure he’s reaching the right audience. That way, he can make sure his commercial partners get their messages to the right places.

“Growth is great… but the reality is our whole focus is on quality,” he said.

Using newsletters to fill the market

Both newsletters and podcasts are great ways to reach your audience directly, whether through your inbox or your headphones. Another similarity between the two is that they're great for growing loyal audiences for niche and independent publishers.

"I tend to look for gaps where I think there needs to be a newsletter," says FT's head of newsletters, Sarah Ebner. "So initially we didn't have a US newsletter, but now we have the award-winning Unhedged newsletter... Same with fashion . I look for gaps where we can fill things."

The FT has 50 newsletters at the moment and is testing them out by rolling them out as premium or standard. “We know that newsletters are really relevant to our business audience, and we also want people to sign up for the FT. So we want to give them something else we think they might like.”

Local podcasts attract international audiences

Daily news publication The Scotsman is looking to expand its international appeal with its Scottish food and drink podcast Scran. Launched in 2019 to diversify its audience, the podcast has successfully tapped into the US travel market.

“Over the last 10 years in Scotland in general… people have grown and become more interested in where their food comes from,” says Rosalind Erskin, host of The Scotsman podcast Scran. “The Scotsman has an American and international audience, so we’re tapping into telling stories about the local farmer, the local baker or a famous whisky distillery.”

Podcast ads also feature a wide range of food and beverage brands, which is a commercial opportunity that can arise from podcasts by bringing listeners closer to the food and beverage landscape.

Paid Podcasts

Ben Youatt, Head of Podcasts at Immediate Media, which has a large portfolio of magazines and podcasts, says podcast listeners in the US are increasingly paying to listen to subscriber-only podcasts, and that's an encouraging sign.

“We see more paid listeners in the US than in the UK,” says Youatt. “Hopefully people will gradually adopt paid subscriptions as things like Patreon or YouTube Premium become more popular globally.”

He’s also optimistic that demand for podcast subscriptions will grow. But news organizations will need to invest to see growth.

Ngoc Anh (according to Media Voices)