An update on the Endpoints business model — and how your company can directly support it
Pictured: The print-optimized version of Endpoints’ 2018 New Drug Approvals report. All paid subscribers will receive a direct link to download the PDF + a copy of all our Q1 paywall stories in printable form, too.
I want to give readers an update on the business front at Endpoints News, which is strong.
Two and a half years in — we’re profitable, about 14 people on the team and growing, and 75,000 unique biopharma readers consume our news across all platforms on a weekly basis. Of that, 31,000 are what we consider “basic subscribers” who receive our daily email reports and have opened or clicked on them in the last month, but haven’t upgraded to paid status. And at the top we have 8,300 premium subscribers who either directly support the work or are employed at a company that does.
We regularly scrub our email readership, too.
We’ve built a global events franchise and convened over 2,000 attendees over the last 12 months in San Francisco, Boston, London, and Shanghai. Later this month we’ll be announcing venues and dates for our entire 2019 lineup.
John Carroll speaks at the US-China Biopharma Innovation and Investment Summit in Shanghai on October 23, 2018
Click on the image to see the full-sized version
And we’ve done all of this without raising any VC cash.
Endpoints is built to withstand the storms enveloping digital media today thanks to the direct support of our Enterprise and Insider subscribers. We’re hiring new journalists, plan to double the audience, and have moved into a new headquarters in Lawrence, Kansas that’ll serve as the nerve-center for Endpoints’ next stage of innovation. New hires in marketing, sales, and operations are in the works now to support that. There’s a website revamp on tap. And there’s just so much more news we’d like to cover in translational science and outsourcing.
I’m visiting @AKAarsalan in Lawrence today. He opened a new @endpts office in biotech building here. Cool spot. Also a rare photo bonus photo of casual Brad and business Arsalan. pic.twitter.com/S77oPTx5ev
— Brad Loncar (@bradloncar) December 14, 2018
Most importantly: Our financial incentives are tied to producing a journalism product that serves the core biopharma reader.
Haven’t joined yet? Now is a great time and you can see one of the benefits above: a print (yes, print!) version of the 2018 class of new drug approvals. You’ll also get access to the latest edition of biopharma’s top 100 VCs, and the entire paywall library.
The most important way you can directly support Endpoints is having your company subscribe to our $1,000/year flat-rate Enterprise plan (signup link). That’s an “unlimited license” for every employee under your corporate banner. All of your colleagues get access to paywall content, reprint rights, PDF export, and your HR team gets two premium job postings at Endpoints Careers. We have a VIP support team who’ll work with you to get Endpoints set up for the rest of your team, too.
It’s a great value, and you’re supporting the most important part of our model. The pricing is transparent and so is our renewal process.
And btw, we are totally renewing! We love @endpts !
— Chris Gibson (@RecursionChris) January 13, 2019
For individuals, we offer the Insider plan at $200/year. Extra benefits on top of the paywall access include discounted rates to our major global events lineup.
We’re also starting a series of subscriber-only networking mixers for Insiders. The very first one will be in Durham, NC on Thursday February 21 at 6pm. I’ll be there along with our VP/Partnerships Mike Peck. Insiders will get an email next week with signup details on this one and our future slate.
We’re going through a major platform overhaul this year.
The look and feel of Endpoints hasn’t changed since we launched in June 2016. The original goal of our design is to deliver news without unnecessary ornaments, with a user experience that feels familiar no matter what device you’re on. But we’ve published over 5,000 news articles and nearly 700 daily reports now in the Endpoints style, and with that experience we’ve identified a number of areas we can improve on. Some of it will be incremental like better search and improving the archives. Others will be more visible and feel like brand new features.
Subscriptions are the lifeblood of this company. But in order to develop a sustained impact befitting a major news organization, articles must be able to travel far and wide, easily discoverable by new audiences. Otherwise, we run the risk of becoming an insiders-only report.
That is where advertising comes in. But nothing we do there is traditional.
I don’t believe in squeezing web pages hard for little juice. That’s essentially what many news publishers do when you see promoted links and ads that are at best irrelevant and at worst have followed you around the Internet to sell you something you searched on earlier. That kind of approach cheapens the quality of the content surrounding it, in my view. It has no place on a business news website.
Every ad unit you see on Endpoints is purchased in-house. These are high quality impressions that are relevant to biopharma, brought to you by advertisers that have been vetted. Our business team is led by Mike Peck, who comes to Endpoints after serving as a VP at Forbes and the New York Times. Marketing pros can reach him at email@example.com.
Subscriptions, events, advertising — in order of importance, that is the Endpoints business model. Our mission is to produce the best daily news report in biopharma, written for our core readers, but to make it as widely available as possible so it has an impact and is discoverable by new readers.
If you need Endpoints, we definitely need you. Again the best way to support us is having your company subscribe to our $1,000/year flat-rate Enterprise plan (signup link). Individuals can signup for Insider here.
To all of you who’ve joined — thank you. We’re building something together.
— David Grainger (@sciencescanner) February 1, 2019