Facebook said to be building a newsletter product after Twitter buys into the space

Social networks could be how you subscribe to newsletters in the future. For instance, Facebook is reportedly working on a newsletter product.

The New York Times claimed Facebook is trying to "court" independent writers and thinks offering newsletter features will attract writers who want to build a following on the platform. It can also help them curate email lists and manage their paid subscriptions. It could even help journalists earn an extra income.

The product is described as still in the early stages, but executives are apparently hoping to launch the newsletters tools as soon as this summer.

Meanwhile, this past week, Twitter acquired newsletter rival Revue, signaling that it, too, plans to get into the newsletter subscription business. 

Newsletters, of course, allow writers and journalists to have complete control over their work and directly earn profits, without having to work through a traditional publication. However, just like how anyone can create a podcast, anyone could create a newsletter, so there is loads of potential for regular users as well.

Just imagine you're a small business owner on Facebook and Twitter and want to send a newsletter to your followers or customers to keep them up to date.

Facebook may choose to limit access to newsletters to Page owners, but little is known at this point. It's just obvious it has been trying to beef up its news efforts in recent years, and newsletters seem like a natural extension. We've contacted the social network for more information and will let you know if we learn more.

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