Facebook launched on Tuesday (29) its new product, “Bulletin”, a platform for publishing newsletters, hosting articles and free and paid podcasts. The objective of the initiative is to compete directly with the Substack newsletter monetization platform.
The success of the startup, which is hiring developers to build loyalty with its users, caught Mark Zuckerberg’s attention about a new wave of email newsletters. Produced by a growing number of famous journalists and editors who left their media companies during the pandemic, this content has become popular around the world.
In addition to Substack, which is attracting a number of journalists with cash advances, other tech companies have also decided to get into the newsletter management and firing business. One example is Twitter, which acquired Revue earlier this year to invest in this market.
The market is so promising that Zuck himself announced the platform, which is running on Bulletin.com. The Facebook Commander also introduced some of the company’s writers during a live audio session.
How will Bulletin work?
The promise of Facebook, at the launch of Bulletin, is to “not cut” the revenue of its creators, who will also be able to set their own subscription prices. Initially, the social media newsletter is getting big names, like sports journalist Erin Andrews, New Yorker columnist Malcolm Gladwell, and reality show Queer Eye stylist Tan France.
Facebook’s strategy is to make the articles and podcasts available in its feed and news section as well. By building Bulletin on a separate website, the intent is “to allow creators to grow their audience in ways that don’t rely solely on the Facebook platform,” explains a statement.
For now, Bulletin will only be available to US creators, but the platform plans to add more international names after its beta test.