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Substack afterparty in DC
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Substack.com got more traffic than The Wall Street Journal and CBS News in June

The popular newsletter platform clocked more US site visits than both major outlets last month.

Tom Jones

For creators looking to reach their audience directly whenever they like, and maybe even make millions in the process, Substack has been one of the places to be since its launch in 2017. Now, it’s becoming a go-to for news- and content-hungry readers, too, as US site visits hit a record 73.9 million in June, per new monthly data from Similarweb.

Substack site visits chart
Sherwood News

Last month, Substack’s site visits outweighed The Wall Street Journal and CBS News — the first time the platform has drawn more American eyeballs than both news sites in the same month, as millions more people flocked to substack.com to explore free and paid publications across business, tech, and culture, or perhaps even to look into starting their own outlets. Interestingly, traffic-tracking site Similarweb actually crowned Substack as its “Digital Winner” in January, after it notched 88% growth across its website and app last year.

For context, Similarweb told Chartr that Substack authors with their own custom domains, such as Matthew Yglesias’ “slowboring.com” aren’t included in the 73.9 million figure — meaning that the dominance of Substack and its legion of writers, podcasters, and video makers is maybe even undersold by that headline stat.

Stacked up

Though it’s nowhere near the size of YouTube in the “creator economy,” Substack has carved out a solid spot in the modern media landscape, attracting top writing talent who have, in turn, managed to attracts tens and even hundreds of thousands of paying subscribers. It’s a nice flywheel where the platform attracts writers, who bring their audience, which attracts more writers... and so on and so forth.

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Netflix climbs ahead of “Stranger Things” streaming premiere amid reports it is ramping up its efforts to acquire WBD

The final season of Netflix’s tentpole franchise “Stranger Things” debuts on the streamer at 8 p.m. eastern on Wednesday, and its stock appears to be safely out of the upside down.

Netflix is trading up about 2% on Wednesday, on pace for one of its better days in the past three months. The stock has only closed up more than 3% a dozen times this year.

Potentially boosting investor optimism is a New York Post report from Tuesday evening that the streamer has ramped up its efforts to acquire Warner Bros. Discovery. According to the Post, Netflix has made a case to the WBD board that antitrust concerns may not be warranted because Netflix competes not just with other streaming companies but with a larger pool of content providers, such as YouTube and TikTok. If Netflix’s legal team is right, the idea could pave the way for the world’s largest streamer by subscriber count to buy the fourth largest.

At least one major Hollywood player is rooting against the company in the WBD bidding war. “Titanic” and “Avatar” director James Cameron this week said that Netflix acquiring WBD “would be a disaster.”

Morgan Stanley analysts have also argued that Neftlix’s pursuit of these studio and streaming assets was creating headaches for its investors.

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