Substack: Empire of Narratives – In Online Ed, Content Is No Longer King—Cohorts Are

Substack: Empire of Narratives – In Online Ed, Content Is No Longer King—Cohorts Are

Introduction:

In the world of media and education, two platforms have emerged as significant disruptors - Substack and cohort-based courses (CBCs). Substack, founded by Chris Best and Hamish McKenzie, revolutionized digital publishing by offering a subscription-based model for writers to monetize their content directly from readers. On the other hand, CBCs, pioneered by platforms like altMBA, provide interactive and community-focused learning experiences that have overcome the limitations of traditional online courses. While these platforms operate in different domains, they share common principles such as the importance of community, collaboration, and providing value to their users. This article explores the rise of Substack and CBCs, their underlying philosophies, and their potential to reshape the media and education landscapes.

Substack: A Platform for Writers and Collaborators

Substack was initially conceived as a solution to the challenges faced by writers in the digital age. Traditional media's heavy reliance on advertising revenue had led to a situation where companies became the primary customers, not the readers. Best and McKenzie recognized the need for a direct payment model, where readers could subscribe to their favorite writers and support their work. Thus, Substack was born, offering a subscription stack that enabled writers to manage their subscriptions efficiently.

The success of Substack lies not only in its infrastructure but also in its ability to foster a network of independent publications. As more writers joined the platform, they collaborated and interacted, helping each other grow. Substack became a platform in its own right, with over 2 million paid subscriptions and 20 million monthly readers. The exponential growth caught the attention of investors, leading to significant funding rounds that valued Substack at $650 million.

The Power of Cohorts in Online Education

While Substack disrupted the media landscape, cohort-based courses (CBCs) have done the same in the field of education. Traditional online courses, often known as MOOCs, offer recorded videos and self-paced learning. However, the completion rates for MOOCs are dismally low, with only 3-6% of learners finishing the courses. CBCs address this issue by introducing cohorts, where a group of students progresses through the material together, with hands-on and feedback-based learning at the core.

The key differentiator of CBCs is the focus on community. In a content-rich world where educational resources are abundant, what is scarce is the sense of belonging and collaboration. CBCs provide students with the opportunity to learn actively, engage in discussions, and benefit from the network effects of their peers. Studies have shown that interactive processing and active learning lead to better comprehension and retention.

The Convergence of Substack and CBCs

While Substack and CBCs operate in different domains, they share common principles that can be leveraged to create a more holistic and engaging experience for users. Both platforms prioritize community building, collaboration, and providing value to their audience. Substack's ecosystem for writers and creators to collaborate and contribute to each other's growth can be extended to incorporate the principles of CBCs.

Substack can explore features that enhance collaboration and partnerships among writers. The platform already provides data on audience demographics and overlap with other publications, which can prompt new collaborations. Additionally, Substack can expand beyond newsletters to become a comprehensive media business platform, supporting various content types such as e-books, job posts, and paid courses. By embracing AI-powered tools, Substack can lower the barrier to content creation and offer a more diverse range of experiences.

Actionable Advice:

• 1. For writers and content creators: Consider utilizing Substack as a platform to monetize your work directly from readers. Leverage the collaborative nature of the platform to network and collaborate with other creators, expanding your reach and impact.

• 2. For educators and course creators: Explore the potential of cohort-based courses to provide a more engaging and interactive learning experience. Foster a sense of community among students, encourage active learning, and leverage the network effects to enhance learning outcomes.

• 3. For Substack: Continue to innovate and expand the platform to become the go-to destination for media businesses. Explore new features such as events, e-books, job posts, and paid courses to offer a comprehensive media ecosystem. Embrace AI technologies to enhance content creation and delivery, making it easier for creators to produce high-quality work.

Conclusion:

Substack and cohort-based courses represent two significant disruptions in the media and education industries. Substack's subscription-based model has empowered writers to monetize their content directly from readers, while CBCs have transformed online education by emphasizing community, collaboration, and active learning. By incorporating the principles of collaboration and community-building, Substack can further enhance its platform and become the best place to build a media business. Similarly, CBCs can benefit from Substack's infrastructure and explore new possibilities for content creation and delivery. As these platforms continue to evolve, they have the potential to reshape the narratives of the media and education landscapes, offering new opportunities for creators and learners alike.