The Changing Landscape of Journalism: From Substack Pro to the Death of the Newsfeed

The Changing Landscape of Journalism: From Substack Pro to the Death of the Newsfeed

Introduction:
The internet revolutionized journalism by expanding the scope of possibilities for writers, but it also shattered traditional business models. In response to this challenge, platforms like Substack introduced innovative structures such as Substack Pro, which aimed to provide financial security to writers. At the same time, the death of the newsfeed has prompted a reevaluation of how social media platforms operate and the impact on content overload. This article explores the common points between Substack Pro and the death of the newsfeed, highlighting the need for new approaches and the importance of diverse voices in healthy discourse.

Substack Pro: A New Model for Writers:
Substack Pro offers writers a unique opportunity to mitigate the risks associated with journalism in the digital age. By providing a minimum guarantee of payment for a year of work, Substack takes on the financial risk, allowing writers to focus on producing quality content. The program's success is directly tied to the success of writers, fostering a sense of trust and reliability. In return for this financial security, writers agree to let Substack keep 85% of the subscription revenue in the first year, which shifts to a 90% share for the writer thereafter. This model not only incentivizes writers but also contributes to the overall quality of the Substack ecosystem.

The Role of Substack: Business Decisions over Editorial Control:
Substack distinguishes itself by emphasizing that it is not an editorial entity but rather a platform that empowers writers to publish independently. It does not commission or edit stories, nor does it hire or manage writers. The ownership lies with the writers themselves, and they write for their own publications. Substack simply requires a commitment to a minimum publishing frequency to ensure dedication. The platform evaluates writers based on their audience size, social media engagement, and the respect they garner from readers and peers. This approach allows for a diverse array of voices, essential for fostering healthy discourse.

The Death of the Newsfeed: Overload and the Tragedy of the Commons:
The death of the newsfeed, as observed on platforms like Facebook, stems from the phenomenon of information overload. Dunbar's number, which suggests that individuals can only maintain close relationships with a limited number of people, clashes with the tendency to share more and more on social media over time (Zuckerberg's law). The result is an overwhelming feed of content, where posting frequently becomes the norm rather than an exception. This overload creates a tragedy of the commons, as users are expected to post, but their posts contribute to the overwhelming nature of the feed.