London | New York: Facebook Inc. launched its newsletter product Bulletin on Tuesday, a standalone platform for free and paid articles and podcasts that will aim to rival Substack.
CEO Mark Zuckerberg announced the platform, which is live at Bulletin.com, and introduced some of the writers that the company has recruited in a live audio room on Facebook.
Facebook is pushing to compete in the fast-growing email newsletter trend, as high-profile journalists and writers have left media companies over the past year to strike out on their own. Self-publishing platform Substack is a leader in helping writers sell email subscriptions, and has lured journalists with cash advances. Other tech companies are also competing in the field, including Twitter Inc., which acquired newsletter platform Revue.
Facebook said it would not take a cut of Bulletin creators' revenue at launch and that creators can choose their own subscription prices. It is launching the platform with a number of high-profile personalities and writers, including sportscaster Erin Andrews, author Malcolm Gladwell and 'Queer Eye' star Tan France.