(Reuters) – Facebook Inc is rolling out a new publishing platform in the United States in the coming months that allows independent writers and journalists to reach new audiences and monetize their work via email newsletters and individual websites.
More writers and journalists are recently getting on the email newsletter bandwagon preferring the editorial freedom inherent in the medium, which also allows them to step away from advertising-dependent business models that have been steadily declining.
Competition is heating up in the space between companies like Substack, Medium, and Twitter’s recently acquired Revue, which allows content creators to try out a mix of paid and free newsletters to reach potential readers.
Facebook’s new platform, which allows writers to monetize via subscriptions, will be integrated with Facebook Pages, the company said, adding that it will also allow writers to create groups to interact with their community of readers.
The world’s largest social network pledged last month to invest at least $ 1 billion in the news industry over the next three years, following a high-profile clash with the Australian government over paying for news for content. .
Reportage by Munsif Vengattil in Bengaluru and Sheila Dang in Dallas; Editing by Shailesh Kuber