Meta says goodbye to Bulletin newsletter service amid restructuring efforts
What's the story
Things are changing in Meta's empire. As the company continues its restructuring effort to tackle various issues, no one is safe.
The latest to fall victim is Bulletin, the Substack-rival Meta launched in 2021. The newsletter product will be shut down in 2023.
The platform only has writers who are invited. Users can read newsletters by subscribing to a contributor.
Context
Why does this story matter?
Last week, Meta CEO Mark Zuckerberg announced that the company will freeze hiring, cut costs, and restructure resources.
Meta (previously Facebook) is traversing the most difficult time since its inception. Zuckerberg sees an opportunity in future metaverse domination and competition against TikTok.
That's what the company is looking at. To achieve that future, we will see Meta cutting off unnecessary limbs like Bulletin.
Newsletter
Bulletin has famous contributors such as Malcolm Gladwell, Malala Yousafzai
Bulletin will meet its end next year. The company's foray into the newsletter space came following a boom in newsletter subscription services.
Meta pulled all stops to make it a success. Contributors such as Malcolm Gladwell, Tan France, and Malala Yousafzai were brought in to write newsletters.
The platform is invite-only. Writers can sell subscriptions to their newsletter.
Writers
Writers can take email list and newsletter to another platform
Writers will be able to earn subscription revenue from Bulletin until it shuts down by early 2023. Meta has also given writers the option to take their subscriber email list and content archives to another platform if they wish.
According to The Times, some of the writers have six-figure contracts. Despite the big names, Bulletin hasn't been the kind of success Meta hoped for.
Alternative
Company will shift resources to Facebook
Meta has given up on Bulletin. But it hasn't given up on content wholly. The company will shift Bulletin's resources to Facebook.
"Bulletin has allowed us to learn about the relationship between Creators and their audiences and how to better support them in building their community on Facebook," a Meta spokesperson said.
The company wants to make Facebook a space with engaging content.