Rief: Media consumption will shift from legacy institutions toward individual creators
Austin Rief · How I Built Resilience: Alex Lieberman and Austin Rief of Morning Brew · Mar 4, 2021 · at 24:41
Morning Brew co-founder Austin Rief is asked by Guy Raz about the future of news consumption over the next five years.
0:00 / 0:16exact quote · 16.7s
720p mp4 · rendered on demand · StarZero watermark
“I think there is very much a push towards individuals and away from institutions. We're seeing that as a society as a whole, but also within the media world, and so I think that will also rise, and I think news and media in general will get more and more niche.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Austin Rief
Rief: New media entrants must target narrow niches to differentiate successfully
“The way to differentiate yourself, if you don't have three million readers, you won't be able to create a general business newsletter. You'll have to create A newsletter that is on bankruptcy you know, law or something really niche, and you'll have to figure o…”
Rief: Morning Brew capped funding at $750K to prioritize early monetization
“So some other media companies decided to raise a lot of funding and push off monetization. We didn't understand that. We thought it makes sense to monetize day one, and so that's all we raised because we fueled it through our revenue and through our profits.”
Rief: Morning Brew's native newsletter ads see 10x higher click-through rates
“Our click-through rates are 10 or even greater times higher than a banner ad”
Rief: Morning Brew waited until reaching 100K subscribers to begin monetizing
“So it was first sent out March, 1420 15. And I think the first advertisement was summer to end of 20 17 is when we started to monetize. So two and a half years and around a 100,000 subscriber mark is when we started to monetize the newsletter.”