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1963 - 2019


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staff
@staff

judges, today I have prepared for you a financial update. despite its minimalist presentation, I think you’ll find it filling.

was that intro good? not really. is the financial report introduction one of the few places I can make jokes in corporate communications? yes. I will take any opportunity I can get. you’re going to read these anyway.

keeping it brief this month; we talked about funding and The Future in the mini-update last week. if you haven’t read it yet, go do so now. I’ll wait.


welcome back. here’s numbers:

CategoryAs of May 5As of April 7Change
Active subscribers3,3273,402-2.2%
Monthly Recurring Revenue (MRR)$21,315$21,982-3%
Subscriber churn rate3%2%+50%
Revenue per subscriber$6.41$6.46-0.8%
MAU18,97321,269-10.7%
MAU → subscriber conversion rate17.5%15.9%+10%
Artist Alley listing-weeks sold416n/an/a

a couple notes:

  • we don’t see the subscriber count drop-off as concerning; it falls within our existing churn numbers, and we don’t expect cohost plus growth when we’re not actively promoting it
  • we’re seeing the last bits of MAU attrition from the wave of new users from tumblr.
    • the general rule of thumb for an online community is that 1% of your users will be active. currently, about 9% of our total users are active. 20% of users that joined during the tumblr wave are also still active. we are above average in expected MAU metrics.
    • other rules of thumb include: 20% of users will produce 80% of the posts (for us it’s 22% of users)
    • by most metrics, we are a fairly conventional social media platform. the main exception is subscriber conversion rate, which is over double industry standard. the reasonable conclusion is that we have built a conventional social media platform, except in the way that 17.5% of our users like it enough to pay for it.
  • artist alley listing sales went live on april 12. next month will prove more interesting for comparison there.

that’s pretty much all I’ve got to say here. part of getting these out consistently is keeping them brief. sometimes there just isn’t that much to say that hasn’t already been said.

enjoy your week, and thanks as always for using cohost :eggbug:

~jae


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in reply to @staff's post:

is the new funding from the new funder a loan, like it was from the previous funder, or essentially a donation? is cutting expenses a goal at all? how are expenses looking, anyway? in the mini-update you mentioned needing to put more work into marketing cohost, so does that mean someone else is going to be hired (increasing expenses considerably) or is that work going to be shared among staff?

I really hope we see more updates to Artist Alley, the only opinions I've seen are neutral to negative on the end experience for artists. I want to use it! But it doesn't seem very useful as of yet for art businesses.

if you or any artists you know do have feedback, please send it to us directly to support@ - we'd love to get a better idea of what isn't working out for artists.

there are a few fast follow features coming soon (like a listing management interface) and some of the common feature requests. like a better tagging system, are something we'd like to tackle in a v2 in the future.

When I purchase a space in June, I'll see what happens and provide feedback.
From looking at it, and as a person totally inexperienced in it thus far, my main concern is repeated traffic. Why should people keep going back to the Artist Alley after the novelty is gone? If there's no real answer other than "They'll want to!", then it makes me wonder what the actual benefit is to using the service from an advertiser's perspective.

I'm not an artist, but I do have one immediate thought. It would be cool is we could share the posts on it. If I wander into the alley and see something really cool, I'd like to be able to hit 1 button and share it with my followers.

i like to copypaste the links of posts that i first discover people in, and this has become awkward for people i find in artist alley.
if the listing are shareable, then they'd have a corresponding link, which would be a boon for me!

that said, i could imagine the transience of artist alley listings being a draw for it vs. a more permanent post.
but... this could probably be fixed by including a toggle for deleting the listing after it expires + option to delete hyperlink to listing even after its expiration (+ toggle to make it shareable or not??).