economie

Inside Substack’s emerging IRL event strategy as the platform expands beyond its newsletter roots

Substack hosted an event with writer Casey Lewis, which featured debates with creators and a marching band performance.

In the corner of the gymnasium running the show were the two masterminds behind the event: Sophia Efthimiatou, Substack’s head of writer relations, and Matt Starr, cofounder of Dream Baby Press, who joined Substack in February to produce events for writers.

The two have planned some of Substack’s buzzy events this year, from pop-culture writer Hunter Harris’ “Hung Up” event that brought hundreds of subscribers into a (physically) hot room to “internet princess” writer Rayne Fisher-Quann’s reading where she and others read aloud secrets in an old Upper West Side church.

“What we are trying to create here is these common spaces where dialogue can flourish, thinking can be developed and challenged, and above all else, human communion,” Efthimiatou told Business Insider.

It’s a lofty goal, but Substack’s strategy of bringing online communities offline into the real world is something social startups and creators alike are trying to crack. As young adults navigate loneliness, some creators are filling the gaps for those seeking a sense of deeper connection through longer-form videos, podcasts, and newsletters. Real-life events are a way for creators to not only establish a community but also build sustainable businesses through tickets or subscriptions.

“You don’t get FOMO from being online,” Starr said. “You get insecurity, and you get all these other feelings, and you might get jealous, but you don’t get FOMO.”

Behind Substack’s big year of events

While Substack only started building its event team this year, the events seem to be resonating with the platform’s writer community and most loyal subscribers.

Most of the events have been amped-up twists on the literary staple of author readings — a page out of Starr’s book. Before Substack hired Starr to produce events, he had been running eclectic readings across New York via Dream Baby Press, including an erotic reading in a Sbarro that was covered by The New York Times.

“I really loved throwing events that challenged what a reading could be,” he said.

Rayne Fisher-Quann’s “Secrets Reading” event packed a NYC church.

However, Substack isn’t making money from these events. For now, it’s all marketing and community building. So far, all of the events have been free for subscribers of the newsletters that are cohosting them.

“At this time, we are focused on creating meaningful experiences that resonate with publishers and their audience of subscribers, even if that means keeping events more curated rather than rapidly scaling them,” a Substack spokesperson told BI. “While we’re always open to evolving our approach and exploring opportunities for growth, including those that may generate revenue, we don’t have further details to share at the moment.”

Meanwhile, some creators are planning events without the help of Substack, like Emily Sundberg, who writes the business and culture newsletter Feed Me. In August, she hosted a party in Montauk, New York, for readers of Feed Me and her Hamptons-focused column she published throughout the summer.

Substack’s next moment

If Substack plays its cards right, its IRL events could help the platform achieve its mission to become “much more than just a newsletter platform,” as Substack cofounder Hamish McKenzie wrote in a blog post this week.

“The vision for what we’re building is giant, and I want everyone to know it,” McKenzie continued in his post.

In the past year, Substack has expanded its offerings to creators on its platforms, such as introducing robust podcast distribution tools, courting video creators, and launching a livestreaming feature.

Substack’s events are a playground for promoting these tools. For instance, at Lewis’ debate, she was able to livestream the whole event to subscribers. Substack is also hosting live podcast experiences, such as providing creators at the Democratic National Convention with a recording studio. The company will also host a lecture and live podcast series with podcaster Dwarkesh Patel in San Francisco.

Events also provide a physical space for readers and writers to connect outside Substack’s successful digital community products, such as its Note feed that rivals X (formerly Twitter), group chats for subscribers, and recommendation networks.

Developing a Substack culture that goes beyond inboxes could also help set the platform apart from its competitors like Ghost and Beehiiv, which have been poaching some of Substack’s writers.

Substack’s events may not be generating revenue for the startup yet, but if they keep expanding, they could help turn some of the platform’s online communities into tangible, cultural experiences.

“The purpose of the events is that we can make online culture feel real,” Starr said.

Read the original article on Business Insider

https://www.businessinsider.com/substack-using-irl-events-with-creators-to-boost-engagement-2024-10