Hey honeys and hustlers,
All businesses are media businesses, just ask Cracker Barrel and MSNBC. Media giants spend millions on marketing content and branding that often misses the mark, and I'm betting on a different approach. As an independent Black creator, I've seen firsthand how authentic storytelling resonates more deeply than big-budget productions lacking cultural nuance. For indie creators, going from $500 per project to building a $5M company (i.e. Ali Abdaal or Full-Time Filmmaker) feels like a huge gap. Heck, it is a huge gap. My business philosophy values authenticity over excess, community over algorithms, and sustainable growth over quick wins. It may take longer to build, but I’m grateful for the journey, and I’m taking you guys along for the ride. In my recent article, I announced the newest chapter of my business. Today, I’m sharing the proverbial bets I’m making in pursuit of making this new chapter the most successful one yet.
P.S. I’ll be live on Substack tomorrow evening with Michelle and Corey at 8PM EST. Come join us in the chat!
P.P.S. Stick around for the poll at the end!
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Social-first shows are going to be more prevalent. Whether it’s a 60-second serial like Brooklyn Coffee Shop, or an 8-10 minute episode posted directly to Instagram. Quibi had the right idea, wrong timing, and platform. Quibi required folks to download a whole new app, and episodes weren’t shareable among friends. Social algorithms want people to stay on the platform, and have the added benefit of 3rd party integrations (CRM, email, and DM automation) and shareability. Social media may not be what it used to be, but it’s still a powerful tool for media creators and connections when leveraged properly.
Original programming is going to favor networks. Instead of one company producing one show vertical, it will need to be one company leveraging partnerships to produce multiple show verticals (Yes Theory, Mr. Beast, Crooked Media, and Binging with Babish are examples of this). This makes advertising an easier selling point, and audience overlap an easier conversion.
Black stories and voices will be more lucrative when building independent, rather than for a streamer or established network. We won't randomly get canceled, and our work will be more authentic. It's more expensive and time-consuming to build this way, but we have models we can follow (Kinigra Deon, Issa Rae, Keke Palmer), and can do more with less ($5M goes a lot further when independent vs. the $50M podcast deals we see for a total team of likely 5-10 folks, including the host).
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The monetization models for independent media will need to include theatrical releases, even for series. Monoculture can be sustainable, and we need to find a way to bring this back outside of film festivals and OG Twitter. I could see distribution companies popping up to specialize in this area — independent screenings and live podcast events in partnership with local theatres or event venues.
Potentially more film festivals that focus more on data. Releasing attendance numbers, social media content as a pull, etc. I think this is something that could be integrated into FilmFreeway fairly easily. As more brands invest in films that they want to do a film festival circuit, these numbers will be important to them.
Newsletter writers will become more prevalently recognized as writers in the mainstream. Publishing a book won’t be the only way to receive this “esteemed” recognition. Emily Sundberg is single-handedly putting NYC on her back as she builds Feed Me as the go-to publication where folks break news. Other traditional publications look to her for signals on what’s newsworthy; we’re already in this era. I think it’s just a matter of time before creator journalism breaches mainstream awareness beyond the confines of Substack’s closed system.
Building a trifecta of newsletters, video podcasts, and original media (film and TV, courses, or software) is what multimedia agencies of the future look like. Own your audience, know their preferences, make a suite of media and products for them at scale. While email has been around for a long time, I would wager that the percentage of filmmakers or high-profile podcasters who owned their connection to their audience before inking a deal with a major broadcaster or streaming service is incredibly low. Many of them, Issa Rae and Spike Lee included, have publicly voiced regretting the decision to leave marketing in the hands of the streamer. It feels like people aren’t learning fast enough from music artists who are having to buy back the rights to their music. Either pay now or pay much more later.
I feel intimidated by the fact that it appears that very few media businesses outside of journalism have taken this approach to building a media business. But I’m energized about the opportunity to be the first. Check in on my progress in 1 year, 5 years, 10 years, idk.