Chris Best, co-founder and CEO of Substack, discusses how creator-led bundling will become valuable once consumers reach limits on individual subscriptions.
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“I think, you know, bundle economics are very real. That's definitely a thing that will become interesting.”
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More from Chris Best
PredictionNot checkable as stated
Best: The shift away from traditional media will not reverse post-pandemic
“COVID has just accelerated that pre-existing trend. And that's something that's not gonna, you're not gonna turn back time on that after that happens.”
Chris BestJun 12, 2020▶ 8:1720VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work
PredictionNot checkable as stated
Best: Digital media will bifurcate into global juggernauts and niche publications
“No, I think that's exactly right. I mean, I think this is the thing you get when the internet creates kind of a global marketplace for things is you want to be the best in the world at something. And that either means being the best in the world by being reall…”
Chris BestJun 12, 2020▶ 11:2220VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work
Insight
Best: Micropayments fail because decision fatigue outweighs small transaction amounts
“I think that micropayments, as we sort of traditionally think of them as like, I'm going to quickly decide whether I want to spend 20 cents unlocking this thing, just don't work on sort of a fundamental product level. I think when you decide to pay for somethi…”
Chris BestJun 12, 2020▶ 12:3520VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work
PredictionNot checkable as stated
Best: Direct subscriptions yield higher quality media than engagement algorithms
“A system where people are paying directly to writers they trust is going to create better, more trustworthy content, more trustworthy relationships, more valuable culture at the end of the day than a system where people are trying to like game the engagement a…”
Chris BestJun 12, 2020▶ 16:4820VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work
AssertionSupported
Best: Consumers pay more for single Substack writers than Netflix subscriptions
“People are willing to pay more to subscribe to one writer on Substack than they'll pay for, like, Netflix, because this sort of relationship that they've built up over time reading somebody has so much value to them.”
Chris BestJun 12, 2020▶ 17:1520VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work
Insight
Best: Imposed content bundles destroy direct reader-writer relationships
“The trick is that you have to do it intelligently. You can't come in and impose bundles on people, because then it kills that golden goose of the direct relationship between readers and writers.”
Chris BestJun 12, 2020▶ 21:2520VC: Substack Founder Chris Best on The Future of Public Journalism, Why The Economics Of Attention Have Been Flipped & Why Micropayments For Content Will Not Work
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