Bloomberg’s Matt Levine still loves crypto; Ankler’s Janice Min loves newsletters
Oct 27, 2022
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Matt Levine, a Bloomberg journalist, wrote a massive 40,000-word piece about cryptocurrency, discussing why he finds it fascinating despite its boom turning into a bust. Janice Min, CEO of Ankler Media, talks about running Ankler and reflects on her role as editor-in-chief of Us Weekly. They discuss the transition from free to paid newsletters and the challenges of email newsletters. They also touch on the failure of Quibi and the success of TikTok. Overall, an insightful and entertaining discussion about the media landscape.
The Ankler newsletter explores the entertainment industry with deeply reported and analytical content, offering a unique perspective to subscribers.
The newsletter format allows The Ankler to deliver targeted and valuable insights to its audience, setting it apart from traditional media outlets.
The Ankler aims to strike a balance between delivering valuable content and respecting subscribers' time and attention, while also finding innovative solutions to enhance the reader experience.
Deep dives
The Ankler: A Growing Newsletter on the Entertainment Industry
The Ankler is an email newsletter that started as a personal newsletter by Richard Rushfield. It gained popularity and caught the attention of Janice Min, who became the CEO of The Ankler. The goal of the newsletter is to provide a unique perspective and insights on the entertainment industry. The Ankler focuses on deeply reported and analytical pieces, delivering valuable content to subscribers. It also aims to capture the conversation and offer a curated experience for readers. With a growing subscriber base and increased funding, The Ankler is expanding its offerings and competing with other publications in the industry.
The Power of Newsletters in Media
The Ankler leverages the power of newsletters as a delivery method for its content. Newsletters provide a direct and personal connection with the audience. Subscribers receive curated and in-depth content that helps them navigate the complex and ever-changing entertainment landscape. The Ankler's focus on providing valuable insights and analysis in a transactional model, where subscribers pay for knowledge and expertise, sets it apart from traditional media outlets. The newsletter format allows for targeted and efficient communication, ensuring that subscribers receive relevant and informative content.
Navigating the Challenges of Email Overload
As The Ankler and other newsletters grow, they face challenges related to email overload and maintaining engagement. The Ankler is aware of the need to provide flexibility and options for subscribers to customize their content preferences. They are working to solve the structural problem of delivering multiple emails and summary emails without overwhelming the audience. The goal is to strike a balance between delivering valuable content and respecting subscribers' time and attention. The Ankler aims to continue growing its loyal audience by delivering high-quality and insightful content while finding innovative solutions to enhance the reader experience.
The Ankler's Impact on the Entertainment Industry
The Ankler has made a significant impact in the entertainment industry, capturing the attention of industry insiders, moguls, and professionals. With its independent voice, The Ankler has become a valuable and trusted source of information for individuals seeking deeper insights on the entertainment landscape. It offers a unique perspective that stands out from traditional trade publications. The Ankler's focus on data-driven reporting and analysis helps readers navigate the rapidly changing entertainment landscape. It serves as a platform for discussion, analysis, and debate, contributing to the broader conversation on the future of entertainment.
Growing Beyond the Core Audience
The podcast episode features a discussion about the challenges and opportunities of expanding a media operation beyond its core audience. The speaker shares how their small staff focuses on providing an analytical overview of the industry and tells the narrative of what's happening. While the core audience consists of entertainment industry professionals, there is also a growing audience from Silicon Valley, Wall Street, and venture capital, indicating a broader interest in the content. The speaker acknowledges the importance of super serving the core audience while exploring ways to attract a wider readership.
The Rise and Fall of Us Weekly
The podcast episode delves into the rise and fall of Us Weekly, shedding light on the magazine's significant impact in the early 2000s. It discusses how the magazine became a dominant force in celebrity news by covering topics such as reality television and the democratization of fame. The episode highlights how Us Weekly's approach resonated with readers who wanted to know more about their favorite celebrities' lives. However, the decline of print media, cultural changes, and the rise of the internet ultimately contributed to the challenges faced by the magazine. The episode also explores how the perception of entertainment industry reporting has evolved over the years.
When Bloomberg’s Matt Levine sent an enticing email about “a big thing coming out about crypto in Businessweek,” Recode’s Peter Kafka couldn’t resist. Turns out, the “big thing” is a 40,000(!) word piece that took over the entire magazine, titled “The Crypto Story." Levine explains why he wrote a 40,000(!) word piece about cryptocurrency, which he thinks is fascinating even if the boom has turned to a bust. Plus some bonus thoughts on the end (?) of the Elon Musk Buys Twitter Saga, and What It All Means.
And then, Ankler Media CEO Janice Min talks about Hollywood's favorite thing to read about: Hollywood. In 2021, Min joined Richard Rushfield to expand his Substack newsletter into a full-on media business. Min talks about how running Ankler differs from running The Hollywood Reporter, and what happens when two media journalists hit up Y Combinator for seed capital. Plus, Min reflects on the heyday of the iconic celebrity news magazine Us Weekly, where her role as editor-in-chief meant she was a celebrity who didn’t plan on becoming a celebrity.
Featuring: Matt Levine (@matt_levine), Reporter for Bloomberg
Host: Peter Kafka (@pkafka), Senior Editor at Recode
More to explore: Subscribe for free to Recode Media, Peter Kafka, one of the media industry's most acclaimed reporters, talks to business titans, journalists, comedians, and more to get their take on today's media landscape.
About Recode by Vox: Recode by Vox helps you understand how tech is changing the world — and changing us.