A few days ago, Lowell reached out saying he together with two friends bought a newsletter on Duuce. They are all passionate about music and when they saw the AlbumDaily.com newsletter on Duuce they decided to take the plunge and buy it.
How cool that you buy a newsletter with a bunch of friends! I interviewed Lowell to get his thoughts on the newsletter and the newsletter industry. You can read the interview below.
Why are you interested in the newsletter space?
We’re a team of 3 (Lowell, Matt and Andrew) that purchased the newsletter Album Daily. We’re all interested in entrepreneurship and were looking for our next side project! Matt has experience building an email newsletter previously (HappyBucketLife.com). Andrew has a ton of experience in technology and digital products. Lowell has experience building an e-commerce company. We’re all three passionate about music so Album Daily was a perfect fit! We think a newsletter is the perfect side hustle because it’s not capital intensive, you get to share your thoughts and content with a broad audience and can meet lots of like-minded individuals with no geographic limitations.
Can you tell a bit on the newsletter you bought and why that one was interesting for you?
We purchased Album Daily because all 3 of us are passionate about music, constantly on the hunt for a variety of new artists, and love sharing new music with others. We also all saw a common struggle in expanding our musical interests beyond what Spotify / Apple Music provide in their templated algorithms. The name was perfect, and people can tell what they’re getting just from reading it. Henry, the founder, did a phenomenal job of building the site and getting the audience off the ground, laying a truly solid foundation.
How are you planning to grow the newsletter?
We hope to use many of the strategies Henry had used as well as a few of our own. We hope to grow on social channels; primarily Instagram, Reddit and Twitter and look to explore Pinterest and Tik Tok as well. Henry had remarkable success with writing guest blogs on how to discover music and we hope to continue this in the future with related topics. Additionally, one new growth strategy we hope to explore is leveraging user generated content with the hopes we can utilize social networks to expand our reach. We hope these “guest reviews” will foster engagement within our current community and we’re excited to begin working with the actual artists themselves and have them share albums that inspired their music.
Can you tell me something about the buying process?
The buying process was seamless honestly! Lowell found out about Duuce on Twitter and would occasionally check the site. When he stumbled upon Album Daily he knew that was the one. We exchanged emails with Henry to figure out why he was selling, find key stats about the business, and negotiate the price. The entire process took a couple of months but really could’ve been done in a couple of weeks if we would’ve moved faster on our end. Henry had priced his newsletter competitively – while some others on the platform seemed a little overpriced.
What do you think is the future of the newsletter space?
We think the newsletter space still has enormous potential! Just look at a few of the more meaningful exits in the space to larger media and software companies (i.e. The Hustle sold recently to Hubspot and Morning Brew to Business Insider). Companies will always need distribution and if you can build an engaged community that can be monetized, then your newsletter has value. Email as a communication medium won’t exist forever, but communities always will.