New York: Facebook Inc is rolling out a new publishing platform in the coming months in the United States that allows freelance writers and journalists to reach new audiences and monetize their businesses through email newsletters and individual sites.
More writers and journalists have recently started joining the email newsletter cart preferring the editorial freedom inherent in the medium, which also allows them to move away from the advertising-driven business models that have been in decline.
Competition is raging for space between companies like Substack, Medium, and Revue that were recently acquired by Twitter, which allow creators to try a mix of paid and free email newsletters to reach potential readers.
The company said that the new Facebook platform, which allows writers to generate income through subscriptions, will be integrated with Facebook pages, adding that it will also allow writers to create groups to interact with the readership community.
The world’s largest social network last month pledged to invest at least $ 1 billion in the news industry over the next three years, after a high-profile confrontation with the Australian government over paying news outlets for content.