In the next few years, we'll see more large communities moving off major social platforms where they originated + setting up their own independent properties, with built-in direct monetization models.
This is a fascinating example of the Passion Economy at work. Thread 👇
Some notable recent examples:
- Earlier this year, the 800k+ member subreddit Change My View--which promotes discourse around opposing viewpoints--launched its own website with custom features that go beyond Reddit's capabilities
- The Woolfer, a FB group for women over 40 with 30K members, moved to a paid app/website. The reason? "This is a volunteer-run organization that has gotten too big, and we can’t sustain it anymore unless we make money"
(h/t @juliey4's great thread )
The themes behind these moves to a dedicated property are:
- Outgrowing existing social platforms and needing additional product features specific to their community
- Lack of monetization options/viable business model for group creators on existing ad-driven social platforms
In addition, various models have de-risked that consumers are willing to pay for curated, high-quality content/community (e.g. Substack, The Wing, etc).
The challenge will be to leverage existing horizontal social platforms for discovery & distribution, while giving a compelling enough value proposition so that power users move to a narrower, premium community.
It's the 1000 True Fans idea in action.
What are other examples you've seen of this?
And check out more thoughts on the Passion Economy in my blog post!
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