National Geographic Print Success
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Sam discusses studying successful niche subscription businesses to understand how to build a viable subscription model. He specifically points to Quello (a concert streaming service) and National Geographic as examples to learn from.
Key Points:
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Quello as a Model:
- Live concert streaming service started in 2010
- Available on Apple TV and mobile
- $10/month subscription model
- 70,000 paying subscribers
- Recently acquired by Stingray Communications
- Better quality than YouTube (superior camera work and sound)
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Research Strategy:
- Study Stingray Communications' public filings
- Analyze Quello's business model despite relatively small subscriber base
- Look at Discovery Channel and National Geographic's business models
- Focus on National Geographic's financials (accessible due to previous non-profit status)
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Key Success Examples:
- National Geographic:
- Valued at $1 billion when Disney bought in
- Still generates hundreds of millions from magazine subscriptions
- These companies prove niche subscription businesses can be highly profitable
- National Geographic:
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Business Viability:
- Niche subscription companies can be successful without massive scale
- Focus on quality content and specific audience needs
- Learn from established players in the space
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.