The Long Story with Simon Owens cover image

The Long Story with Simon Owens

How Starter Story ditched recurring payments and built a $1.5 million information product

Aug 22, 2023
Patrick Walls, founder of Starter Story, discusses his transition from selling advertising to offering one-time payments for permanent access to his content archives, helping him achieve $1.5 million in annual revenue. Bradley Hope shares insights on funding and adapting narrative projects across multiple formats. The podcast explores Starter Story's evolution, revenue diversification, and the success of mid-roll ads. It also delves into the costs of producing a narrative podcast and the challenges of optioning intellectual property in the film industry.
59:19

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Shifting focus from advertising to a paid product can lead to significant revenue growth in media companies.
  • Vertical integration and retaining control over intellectual property can maximize future revenue opportunities for media production studios.

Deep dives

Starter Story's Evolution and Revenue Growth

Starter Story, founded by Patrick Walls, initially focused on publishing case studies of successful entrepreneurs. However, it has now transformed into a comprehensive media company covering various aspects of entrepreneurship and online businesses. The company generates revenue through its paid product, offering two pricing tiers: $695 for access to case studies, investigative reports, and a founder community, and $1,095 for additional access to courses. By shifting its focus from advertising to its paid product, Starter Story has experienced significant revenue growth, with projections of reaching $1.5 million in annual revenue.

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