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Substack Seeks to Raise $65 Million in Investments

With Substack’s popularity growing since its foundation in 2017, the company seeks to raise $65 million in investments to capitalize on its platform’s popularity.

Eduardo Razo

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The coronavirus pandemic resulted in many journalists being laid off or furloughed while others sought to become their own bosses.

As a result, some took the opportunity to distribute their content via Substack. It’s a medium that allows writers to produce their newsletters and content and get paid for it by their audience.

With Substack’s popularity growing since its foundation in 2017, the company seeks to raise $65 million in investments to capitalize on its platform’s popularity.

Andreessen Horowitz leads the $65 million round of venture capital funding that might boost the company’s value to $650 million, Axios reported.

“When readers pay writers directly, writers can focus on doing the work they care about most. A few hundred paid subscribers can support a livelihood. A few thousand makes it lucrative,” Substack says on its website.

“We believe that writers, bloggers, thinkers, and creatives of every background should be able to pursue their curiosity, generating income directly from their own audiences and on their own terms.”

Horowitz refused to comment, while Substack hasn’t yet replied to Axios’ requests.

News Print & Digital

Futuri Creates Program that Turns User Content into Video

The platform is reportedly gaining popularity among television broadcasters following the release of a new version tailored to their needs.

Eduardo Razo

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Audience engagement company Futuri has created a new program called POST. The platform allows its users to upload audio, add texts and images and turn the content into video. 

The platform is reportedly gaining popularity among television broadcasters following the release of a new version tailored to their needs. According to Inside Radio, more television companies look to capitalize on the growing audio medium to reach their audiences. 

“Today’s audiences don’t think of media brands only in terms of ‘TV’ or ‘radio’. Quality content, be it video or audio, is what gets consumers engaged,” said Futuri CEO Daniel Anstandig.

POST comes equipped with scheduling tools, video tools, and search engine optimization. In addition to ingesting and automatically editing a TV newscast’s audio feed, Futuri says the TV version of POST will also swap out the television commercials with programmatic ad markers.

“The way we’ve customized the POST podcasting systems for the unique needs of television broadcasters will help them quickly capture the audience and revenue growth opportunities that the explosive growth of audio has created,” added Anstandig. 

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News Print & Digital

Washington Post Tells Staff to “Comply Now” with Work Policy

The Post has put an ultimatum to its staffers who are not showing up to the offices for the three days they require or face the consequences.

Eduardo Razo

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The Washington Post has put an ultimatum to its staffers who are not showing up to the offices for the three days they require; they can either come back or face “disciplinary action.”

In an email sent throughout the company, Post chief human resources officer Wayne Connell called on staff to “comply now” with the newspaper’s work policy. 

After re-opening its offices on March 15, the publication demands that its staff be in the office “at least three days per week.” 

“If you haven’t complied with our 3/2 policy since our March return, or you haven’t complied consistently, we’d like to underscore the need to comply now,” the statement read, per Mediaite

“Beginning this Monday, June 27, please ensure that you are in the office at least three days per week, assuming you are not on approved days off such as vacation time, sick time, etc. Failure to comply with this policy may result in disciplinary action.”

Connell adds that the Post is being fair with its demands to have their staff come in three times a week, striking the right balance by allowing employees to work from home and having the office experience that a Zoom meeting can’t replicate.

“We believe this companywide policy strikes the right balance, allowing both in-office collaboration and greater levels of flexibility than before the pandemic, and it’s only fair that we enforce this policy consistently,” the statement concluded. 

“We continue to evaluate the effectiveness of the 3/2 model and reserve the right to make changes in the future. In the meantime, please do your part in helping us meet these expectations.”

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News Print & Digital

The Obamas Agree to Content Deal with Audible

The exclusive, worldwide, multi-project, multi-year first-look production deal will see the collaboration supporting Higher Ground’s commitment to audio.

Eduardo Razo

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Former President Barack Obama and First Lady Michelle Obama left Spotify in April. It didn’t take them long to find a new home for their content as the Obamas’ media company, Higher Ground, and Audible have reached a multi-year deal.

press release announced the exclusive, worldwide, multi-project, multi-year first-look production deal will see the collaboration supporting Higher Ground’s commitment to audio.

“At Higher Ground, we have always sought to lift up voices that deserve to be heard — and Audible is invested in realizing that vision alongside us. I’m looking forward to partnering with them to tell stories that not only entertain but also inspire,” President Obama said. 

“We are so proud of the stories we have been able to tell at Higher Ground, and there’s no one we’d rather write our next chapter with than Audible. Together, we will keep striving to tell compelling, provocative, and soulful stories—while doing everything we can to make sure they reach the folks who need to hear them,” Michelle Obama said.

The slate of Audible programs will reflect the companies’ shared task to convey meaningful and entertaining stories that promote diverse voices and backgrounds.

“We have long recognized President and Mrs. Obama’s historic capacity to captivate,” Don Katz, Audible’s Founder and Executive Chairman, stated. 

“We are thrilled to welcome two of the most profound voices of moral and intellectual leadership of our times into the Audible fold, and to be able to elevate President and Mrs. Obama’s singular ability to provide hope and uplifting guidance—needed now more than ever—through their voices.”

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