The downturn is fueled by a multitude of factors like the sluggish economy and fractured audiences. 2024 will be a year of continued upheaval.
But, amid the gloomy headlines, there is hope. Modern media companies are springing up and reshaping journalism, and our team is watching closely and developing relationships with them.
Today we’re diving into three of the companies creating new methods of publishing, storytelling and building engaged audiences.
Semaforis a global media brand that covers tech, politics, business, media, fashion, climate and security. It was launched in 2022 with $25M in funding by Ben Smith, the former New York Times columnist and Justin Smith, the former CEO of Bloomberg Media.
Why it exists: “The world’s first news platform designed to meet the moment we are in. Providing audiences with an unparalleled level of journalistic transparency through innovative new forms, cutting through the noise of the news cycle with smart, distilled views and exploring competing perspectives across borders for a curious, new global audience.”
What sets it apart: Like most new media companies, Semafor hires experienced journalists from publications like The Wall Street Journal and The Washington Post to write about focused beats. However, unlike traditional outlets, many Semafor articles include the journalist’s personal “view” on the subject rather than staying impartial.
Who it reaches:3 million readers, 500K newsletter subscribers, 56K X followers and 6K followers.
What it costs: The site is currently free but plans to move to a subscription model.
Puck is a subscription-based media company publishes in-depth stories about power, money and ego across industries including politics, business, entertainment, sports & media, climate and fashion. It was founded in 2021 by four media industry veterans, in partnership with a team of accomplished journalists, and raised $10M in funding in 2023.
Why it exists: “Our mission is to bring you the story behind the story. Puck is a platform for smart, engaging (and, yes, occasionally dishy) journalism owned and operated by the journalists themselves.”
What sets it apart: Puck aims to cover the four centers of power in the United States: Silicon Valley, Hollywood, Washington and Wall Street. The stories – or content – seem like a scoop or “inside conversation.” It’s constantly evolving and hiring, and tends to focus on the personalities shaping the news including Elon Musk and Bob Iger.
Who it reaches: Unknown number of subscribers, 64K X followers and 7K LinkedIn followers.
What it costs: Become a Member for $100/year or join the Inner Circle which provides direct access to Puck’s elite talent for $250/year.
Punchbowl News is a politically focused, membership-based news community founded in 2021 by ex-Politico journalists Jake Sherman and Anna Palmer, and co-founded by former Capitol Hill reporter John Bresnahan (who was also at Politico). Their political expertise goes deep and indeed, Sherman was at the Capitol during the Jan. 6 riots.
Why it exists:“Punchbowl is the Secret Service nickname for the Capitol. Our credo is Power, People, Politics. We’ll focus relentlessly on the people in Washington who make decisions, and on the news and events that will move political markets.”
What sets it apart: In December, Punchbowl, which is already profitable, acquired Electo Analytics, a data company that tracks and analyzes legislation. The move highlights how newer outlets are doubling down on their focus areas, giving their audiences exceptional reporting and analysis.
Who it reaches: 100,000+ subscribers, 137.2K X followers and 5K LinkedIn followers
What it costs: Punchbowl News AM, a daily morning newsletter, is free. Punchbowl News Premium, which provides members with three daily newsletters, breaking news alerts and exclusive briefings, is $35/month or $350/year. It also offers The Vault, a policy resource for members starting at $1,200/year.
JUST FOLLOWING UP 🙋
👀 A big launch or business announcement is on the horizon. Who do you pitch? Do you stick with the mainstream outlets for wider awareness or target niche publications? The answer: a mix of both depending on the editorial focus and audience reach. Pay attention to the journalists at these newer publications — many of whom have their own dedicated followings and could move back to more mainstream journalism work.
THE DOWNLOAD 👩💻
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“This group of publications have all decided that, rather than trying to boil the ocean, they can find dedicated audiences who will pay for news that goes deeper into specific topics.”
— Lisa van der Pool, executive vice president, media strategy, Inkhouse
