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Jim VandeHei's Axios Venture Aims To Fix Advertising

Former Politico founder Jim VandeHei says "media is broken" and he's hoping to fix it with his new startup called Axios, a group of newsletters launching on Jan. 18, according to a report in the Wall Street Journal. VandeHei says banner ads and long-form native ads don't work. "Axios will only offer advertisers a type of short-form branded content. It will fit all on one screen and will lie more naturally within its editorial concept of providing readers bite-size bits of hard news and information," according to the report. VandeHei said that readers want shorter, more "digestible news" that's "more shareable". So how will Axios, as a publisher, make money? For one thing, it won't rely solely on advertising, smart move. Axios' founders plan to "launch a high-end subscription offering targeted at CEOs, top business leaders and political insiders in about six months. Costs will vary as packages will be tailor-made, but could run as high as $10,000 a year," the Journal reported. Axios will also team up with other publishers to sponsor events which rake in dollars. Among partners mentioned in the report: Business Insider, NBC News and the Information.

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