Spotify for news, but only better! Aggregate news subscriptions, not the content.
Tired of bumping into paywalls when reading news? Newsense is the only subscription you need to read all news! One subscription to read all news!
Current Status
I have created the MVP (a subscriber registry, and API on GCP). Looking to onboard news companies onto my platform.
Market
240 Million US adults get their news from social media. 91% of Gen Z + Millennials use social media to read news at least once a week. 71% use once a day. Gen Z: 93% (use social media once a week) / 74% (once a day) 40% of Young adults get news from TikTok.
Problem or Opportunity
90%+ adults consume news digitally (TikTok, Google, etc.), yet 70%+ news publications (e.g. New York Times) use paywalls to lock their content.
Users are stuck between engagement driven low quality news and expensive paywalled news.
Solution (product or service)
Newsense creates a universal subscription (think of it like a magic key) that allows users to unlock any news content anywhere they browse. No need to download another app to read news on.
Competitors
Apple News+: Inorganic to user behavior. Also, locked into user behavior. has vey small conversion rate. Individual subscriptions: Expensive, especially when purchasing more than one.
Advantages or differentiators
I am aggregating the subscription, not the underlying content. This gives users the flexibility to read content anywhere, on the publisher site directly - unlike the competitors.
Finance
Say an average user reads 10 articles / day, that costs Newsense $6/month in payments to the News platforms. A small portion of the market will bring Billions in revenue. Even 3% (10 millions subs) will bring $1.2B in revenue.
Business model
User subscribes to Newsense (say $10/month). Newsense communicates to the news companies to allowlist the user to read any news they wish to read on their platforms. News companies keep tally of the number of articles accessed by users. Newsense pays say 1-2 cents for every article read.
If users read 20 articles every day, Newsense pays $6 to news companies, keeps the rest.
Money will be spent on
Me working full time. Hiring a technical contributor.
Offer for investor
Investment of $1.5M (5% stake) for disrupting the biggest opportunity.