1 big thing: Local newsletter boom

From: Sara Fischer

December 01,2020

Patch, the hyperlocal (and profitable) local digital news company, has built a new software platform called "Patch Labs" that lets local news reporters publish their own newsletters and websites, sources tell Axios.

Why it matters: It follows a growing trend of journalists going solo via newsletters at the national level.

How it works: The software allows reporters to sell ads and subscriptions directly via the platform, and keep most of the revenue.

The big picture: The new product isn't meant to be a cash cow for Patch in the short-term, but long-term, it could help the company onboard many more local news sites and reporters to its platform.

The big picture: More news companies are investing in newsletter businesses at the local level to help communities with declining newspapers.