Platformer’s Casey Newton on surviving the great media collapse and what comes next

Newsletters

Newsletters have emerged as a viable business model in the media industry, offering a sustainable path for journalists like Casey Newton. He transitioned from traditional media to launching Platformer, leveraging Substack's infrastructure to reach readers directly 1. This move was partly driven by the desire for independence and the ability to monetize directly from subscribers. Newton reflects on this shift, noting, "If you break news, people will pay you money" 2. Despite initial challenges, newsletters like Platformer demonstrate the potential for journalists to thrive independently 3.

   

Funding

The media landscape faces significant funding challenges, necessitating innovative solutions. Casey Newton highlights the need for media companies to rethink cost structures and funding strategies, emphasizing the importance of generating subscriptions to sustain operations 4. He notes, "We need to build media businesses that don't have dedicated HR and accounting departments" 5. This approach underscores the shift towards leaner operations and the necessity for media outlets to adapt to changing economic realities 6.

   

Public Investment

Public and philanthropic investment could play a crucial role in sustaining media outlets. Casey Newton argues for increased public investment and philanthropy to support media sustainability, urging audiences to subscribe to meaningful media 7. He warns of an impending "forest fire" in the media industry, suggesting that significant changes are necessary for growth 8. This perspective highlights the urgent need for new funding models to ensure the survival and evolution of media enterprises.