The famous publication model focused on Puck Change journalist. Sort of.
The media made its debut in 2021 with its journalists as a public oriented focal point of the company, not in the publication. People would subscribe less to the washer than to the newsletters of Matthew Belloni or Julia Iofe via Puck. And Puck journalists were partly remunerated directly for the subscribers they attracted. Recently, however, Puck newsletters came to full publications.
“You have almost sub-marks under the washer that are deductibles rooted by basic talents against probably the first two years, it was a newsletter anchored by Core Talent,” said Sarah Personte, CEO of Puck during the last episode of Podcast Digiday.
Belloni’s “What I’m Hear” newsletter, for example, has enlisted contributors like the legal expert Eriq Gardner and, more recently, the former editor -in -chief of Hollywood Reporter Kim Masters. Likewise, the “line leaf” centered on Lauren Sherman’s fashion regularly offers entries from the retail editor Sarah Shapiro and the beauty journalist Rachel Strugatz. This evolution coincided with the growth of Puck’s Pucy subscribed by 30% in the past year, Personte expects the company to become profitable this year.
“Put journalists at the center of our model still exists, but what we are trying to do, because our subscriber base has experienced incredible growth in recent years, we want to make sure that we complete the stories and that we complete the cover by bringing other journalists,” said Personte.
The expansion nature of Puck newsletters raises the question of how much the PUCK remuneration model must also change. Puck attracted a lot of initial attention to pay bonuses to his journalists for the new subscribers that their articles attract as well as for the subscribers they keep. But how does it work if a Masters article attracts a subscriber via the Belloni newsletter?
“So (Belloni) is a franchise manager, and there are different advantages to be a franchise manager. And it also leads a ton of its own submarines. And then we also want to make sure that the people who contribute to this franchise also get a bonus, “said Personte.
Here are some protruding points of the conversation, which have been published for length and clarity.
PUCK Average Newsletter opening
One of the reasons for this fairly large boom in newsletter subscriptions compared to social media platforms, where engagement rates are much smaller, they are on average about 30% for newsletters, and we find around 70% in terms of opening rates overall.
Puck compensation model
In addition, obviously to base wages, we make a bonus (paid to Puck journalists) for new subscribers and we make a bonus for preserved subscribers. You are therefore both bonus on which comes for your particular article, then if you keep these subscribers, this is also paid. We really think of the life value of our customers and the way we want our sustainable growth rates to continue to grow over time.
Metric “income per capita” by Puck
Our four strategic pillars are the growth of the audience, income growth, operational excellence and brand protection. And under operational excellence, one of our basic measures is RPH, returned per capita. Thus, the way in which we think of the sustainable growth of the company and the creation of these key growth measures through the public and through income must be carried out in a way that also allowed us to remain thin.
PUCK POST COVER
I think we always have the possibility of obtaining technology, and in particular the tip of the lance around the AI, on the right. It is a field of key concentration for us at the moment.