Independent journalism is reshaping the media landscape — and it shows no signs of slowing down.
According to Axios, mainstream media’s influence over the 2024 election was diminished significantly. With a single podcast interview, both candidates reached a wider audience than they could through traditional media spots with major news networks.
But politics isn’t the only sphere in which traditional media’s dominance is wavering. Across industries, the ways people access information have become fragmented between traditional and nontraditional media channels. This trend has fueled the rise of independent journalists— individuals who leave corporate media to launch their own newsletters, podcasts, or media companies.
To explore this shift, I recently caught up with Phil Rosen, a former Business Insider reporter turned newsletter writer and podcaster. My goal was to learn more about how these non-traditional mediums work and what PR professionals should know when pitching them.
A Journalist Turned Entrepreneur
Rosen, a 28-year-old journalist based in New York City, took an unconventional path into journalism. He pursued a pre-med degree, but after graduating from San Diego State, he chose to take a gap year and write a blog while teaching English in Hong Kong.
Returning to the U.S., Rosen dipped his toe into journalism. He completed his master’s in journalism at the University of Southern California and was offered a role at Business Insider reporting on financial news and markets. In March 2024, Rosen left the media outlet and became an entrepreneur. Alongside investor Anthony Pompliano, he co-founded a financial media outlet, Opening Bell Daily, a platform that delivers independent financial news and research at no cost to readers.
Reaching A Curated and Loyal Audience
Today, Opening Bell Daily is trusted by over 215,000 long-term investors to deliver data-driven financial news and analysis to their inboxes. But their audience reach extends well beyond their direct subscriber base. The Opening Bell Daily newsletter not only hits subscriber inboxes every morning but is also syndicated and distributed by Inc. Magazine and Bloomberg Terminals.
“[The] range of distribution gets us a lot of eyeballs, and on a given day, across three platforms, we can have as many as half a million readers,” said Rosen. He went on to say that you don’t have to be a long-term investor to read the publication either. “Maybe you’re a day trader, but hopefully by reading our work, it puts you in the mindset of a long-term investor.”
Pitching to Newsletters and Substacks: What PR Pros Need to Know
For PR professionals, independent platforms like Opening Bell Daily offer valuable but nuanced pitching opportunities for pitching and media outreach.
“I get pitched probably 100 emails a day and I read every single one,” Rosen shares. While he aims to respond thoughtfully, time constraints mean he can’t reply to every single one. However, he told us that he accepts pitches via email all the time, and is always open to meeting new sources and people, especially those with unique or contrarian perspectives that can make a story stand out.
Beyond looking for sources with a unique point of view, Rosen’s go-to sources are often economists, market strategists, financial professionals at banks or hedge funds and stock researchers — an approach he used during his time at Business Insider.
On the other hand, financial professionals in the consultancy space may not find as many relevant opportunities with Opening Bell Daily. Rosen tells us that his core financial stories don’t cover enough material to be relevant to consultants. If he were to ever switch gears and begin covering business more broadly, then a consultant source may be useful.
What’s Driving Independent Media Success?
The rise of curated newsletters, podcasts and Substack platforms marks a new era in journalism. As these nontraditional outlets continue to gain traction, the question on everyone’s mind is how are these mediums so successful.
According to Rosen and his co-founder, Anthony Pompliano, what makes their content unique is that they are the only financial news outlet that delivers original content with no paywalls. Opening Bell Daily is data-driven and chock-full of visuals and charts you can’t find anywhere else, and it’s all free.
During his time at Business Insider, Rosen would get a lot of complaints about having a paywall. “I can’t tell you how many times my friends would call or text me to say ‘Hey, can you send me your story in a PDF? I can’t read it [otherwise].’ And I thought to myself, there’s got to be a better way to do this.”
By eliminating these traditional barriers to access and prioritizing high-quality and original reporting, independent platforms like Opening Bell Daily are not only building engaged and loyal audiences but also redefining what the next generation of journalism can be.
Looking to enhance your brands’ media outreach? At Walker Sands, we leverage strong reporter relationships and deep industry knowledge to help our clients secure impactful coverage. Reach out to our team today to learn more about how we can support your PR efforts and position your brand for success!