Sam Parr (The Hustle) and Alex Lieberman (The Morning Brew) discuss building $100 million dollar newsletters
This is a great podcast because now that Sam has sold The Hustle and Alex Lee Rubén has sold the morning brew they can openly discuss financials tactics and things that they did to grow without any worry a great podcast listen.
Here is a summary of the video, broken down by year, with key insights and timestamps:
2015:
2016:
The Hustle was created as a newsletter after the host saw the success of the Skimm. [06:08]
Morning Brew made its first ad deal. [16:06]
The hosts discuss the importance of focusing on content quality. [16:19]
The Hustle generated $400k in revenue with 100,000 subscribers. [15:33]
Morning Brew made $25,000 in revenue. [16:29]
2017:
Morning Brew hired Tyler Denk, who became transformational for the company. [20:20]
The hosts emphasized the importance of finding undiscovered talent. [21:18]
The Hustle ended the year with 250,000 subscribers and $2.2 million in revenue. [19:37]
Morning Brew ended with 100,000 subscribers and $300,000 in revenue. [20:06]
2018:
2019:
2020:
Future Opportunities & Advice:
The hosts discuss the future of newsletters and media. [55:25]
They emphasize the importance of content quality and niche focus. [56:18]
They suggest opportunities in quarterly/monthly hardcover magazines. [01:03:02]
They also suggest a media company focused on alternative investments. [01:07:06]
They highlight the importance of being in New York for media companies. [01:00:56]
They discuss the importance of having an "enemy" to motivate the company. [01:09:37]
Positive Aspects
The blog post title sets the stage for an exciting and insightful exploration into the world of high-stakes newsletter business. It’s engaging because it promises to unpack the journey of two successful entrepreneurs who built and sold their companies for millions. This is like a backstage pass to the rock concert of newsletter businesses! The content is rich with detailed chronological insights which provide a structured narrative of their success, making it an enticing read for anyone interested in entrepreneurship and media.
Key Takeaways
- Origins and Growth: Both The Hustle and Morning Brew had humble beginnings but quickly grew through innovative strategies and a focus on content quality.
- Financial Milestones: Both companies reached significant revenue and subscriber milestones, highlighting the scalability of a well-executed newsletter business.
- Hiring and Talent: Recruiting transformative talent, like Tyler Denk for Morning Brew, played a crucial role in the companies' growth trajectories.
- Business Sales: The eventual sale of both companies underscores the value and potential of media businesses in the modern economy.
- Future Opportunities: Emphasizing content quality, niche focus, and the exploration of new media formats like quarterly magazines and alternative investment-focused content.
Additional Insights
Building a newsletter empire isn’t just about sending emails; it’s about creating a community and providing value. Both Sam Parr and Alex Lieberman demonstrated that a strong brand can be a powerful growth engine. The podcast also hints at the importance of acting with an "underdog mentality," which can drive innovation and resilience. Plus, the idea of having an "enemy" to motivate the company adds a bit of drama and fun—everyone loves a good rivalry! For entrepreneurs, these stories are a goldmine of strategies and inspiration for scaling their own ventures.
