Can Beehiiv Carve Out a Bigger Slice of the Creator Economy?
Can an upstart creator services company take on some of the best-known players in the space? Beehiiv believes it can. Founded in 2021 by Tyler Denk, Benjamin Hargett, and Jake Hurd, the tech company on Thursday announced a suite of new offerings that will take it well beyond its newsletter routes as it seeks to entice more creators to its platform.
In an interview with The Hollywood Reporter, Denk shared his vision: "My thesis from day one is every creator, journalist, and publisher honestly cares about two things: growing faster and making more money. And if we can build tools that facilitate either of those things, that’s where we prioritize our time."
Beehiiv's new offerings aim to provide a more comprehensive suite of tools for journalists and creators, complementing existing services like a burgeoning advertising network that brings in around $1 million per month in revenue. "A lot of these content creators and publishers don’t have massive sales teams or want to spend time selling to big brands," Denk says. "So if we can bridge the gap and provide that optionality, I think there’s a ton of upside."
The company has been growing rapidly, attracting users such as established publishers like Time and The Boston Globe, as well as creators and independent companies like Oliver Darcy’s Status and Milly Tamati’s Generalist World. Tamati, who lives on a remote island in Scotland, praises the platform's ability to help her create a newsletter that generates six figures while reaching thousands of people. "It’s an extraordinary time to be in," she says.
Beehiiv now has a $32 million annual run rate and 55,000 active users, with creator and publisher earnings estimated at around $3 million per month. However, this does not include brand deals or other revenue sources that creators secure outside the platform. Denk emphasizes an open approach, providing a best-in-class toolkit while allowing creators to connect with other tools that help them succeed.
The company's pitch seems to be resonating. Chris Koerner, who writes The Koerner Office across LinkedIn, X, and his newsletter, was impressed by the team's dedication and the platform's features. "I loved the user interface and the ability to integrate polls and surveys in my newsletters," Koerner says. "It just seemed like they were always adding new features, making it look like the next email platform."
As Beehiiv continues to expand its offerings and gain traction, it remains to be seen whether it can carve out a significant slice of the creator economy, challenging the established players in the market.
