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Latest / The Copywriting Podcast with Fexingo: Sales Letters, Headlines, and Persuasive Writing

How Substack Built A Publishing Empire Without Ad Revenue

We dissect how the Substack network turned newsletter writing into a sustainable business model by flipping traditional media economics. While legacy publishers struggle with ad tech collapse and paywall fatigue, Substack creators like Lex Fridman and Matt Taibbi built direct revenue streams through subscriptions. We explore the unit economics of creator-led publishing, why advertisers fled the platform, and what this means for the future of independent journalism in October 2026.

#Substack #CreatorEconomy #DirectToConsumer #NewsletterMarketing #PublishingBusiness #LexFridman #MattTaibbi…

The skinny

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