Daily business newsletter company The Hustle has launched a premium subscription offering called Trends, to analyze and identify the fastest-growing startup trends and opportunities for entrepreneurs.
“Our readers have asked for more” than The Hustle’s analysis of business news, Sam Parr, founder of The Hustle, wrote in post on the Trends site. “They want actionable insights on how to capitalize on the information we’re giving them.”
Trends, The Hustle’s first subscription product, costs $299 a year. (A promo offering for $249 is available until Wednesday.)
That fee will get members a weekly newsletter every Tuesday with “case studies, in-depth analysis and interviews with successful founders, describing the latest business trends and opportunities,” according to the site.
Subscribers will also get access to entrepreneurs and Trend’s writers.
The Hustle joins a number of publishers launching premium offerings, to diversify their businesses and grow another revenue source for the company.
The trend here is that people, particularly prosumers, are more willing to pay for information,” Parr told Publishers Daily. “And this is changing fast. Loads of people are open to this now.
"More than ever, I think [people] want high-quality information that's niche. There are loads of B2B media companies that make literally billions of dollars this way. They have proven demand," Parr added. "Yet many of the popular consumer or prosumer brands refuse to do this. We are punching on that. We think if you create utility information, people will pay."
Six of The Hustle’s 25 employees are dedicated to Trends. Parr noted they are “hiring fast” to build out the team.
The idea is that the Trends newsletter format provides analysis that is different than the typical quarterly or annual reports that require steep membership fees to access, according to Parr, and the shorter, daily news stories from business publications.
The Hustle tested Trends for nine months “with a dedicated group of readers,” according to the company.
“Trends is here to offer answers to the questions that true entrepreneurs find themselves asking in the shower: ‘How does this business make money?’ or ‘Where is this pattern headed and how can I act on it?’,” stated Parr.In October,The Hustle crossed the 1 million newsletter subscriber mark.
The company claims it has maintained a nearly 50% average open rate.
"We think we're getting in on this right at the right time,” Parr said about Trends. “Like we did with email. We launched an email business and it was an eight-figure business inside of two-and-a-half years. We expect the same will be true for Trends."