Jim Vandehei, the cofounder of Politico, has an idea about building a new media company that caters to people who care about news. According to the Nieman Lab, his new media venture is called Axios and has already raised $10 million dollars.
His idea is to reach out to an audience that believes in journalism. This niche, he believes, might be anywhere from 20-30% of the American Public.
“Everyone’s so hopped up now about fake news, fake news,” Vandehei said. “Yes, that’s a problem. But the much bigger problem is…there’s huge swaths of people who don’t even believe real news.”
The business model for Axios will be split halfway between advertising and subscriptions. These aren’t your average Washington Post Sunday Edition subscriptions–Vandehei said these will cost at least $10 thousand dollars a piece, mostly for businesses looking to stay ahead on a specific niche.
Vandehei’s model of journalism will also focus on short bitesize articles that will fit on one page. This all sounds very good, but in a world of dog eat dog media competition, we have yet to see if Axios will catch on.