CBS News Personality David Begnaud Launches Independent Media Venture
In a significant move within the evolving media landscape, CBS News contributor David Begnaud has announced the launch of his own independent media company, Do Good Crew, while continuing his role at the network. This development highlights a growing trend where journalists balance stable positions with entrepreneurial ventures, leveraging platforms like beehiiv to reach audiences directly.
Blurring Lines Between Mainstream and Independent Journalism
As media jobs dwindle and the industry increasingly focuses on individual personalities over global brands, many journalists are opting to leave traditional roles to start paid newsletters on platforms such as Substack and beehiiv. Notable figures like CNN anchor Jim Acosta and ABC News correspondent Terry Moran embarked on similar paths last year. However, Wendy McMahon, a former CBS News president and current senior adviser to beehiiv, argues that television journalists need not abandon their network jobs to explore independent opportunities.
"The lines are being blurred between creators and mainstream, and eventually they're going to fade away," McMahon stated in an interview. "So you can either watch as the future passes you by or you can participate in it fully. And I think the future of journalism isn't institutions or independence – I think it's both working together."
Do Good Crew: A New Venture with CBS Support
On Monday morning, David Begnaud revealed that he will maintain his day job as a CBS News contributor while launching Do Good Crew. The company will feature a weekly newsletter powered by beehiiv, a podcast titled The Person Who Believed in Me With David Begnaud, and a live events series. Inspired by his weekly television segment highlighting everyday heroes, the podcast debuts with an interview featuring Oprah Winfrey.
Begnaud emphasized the importance of preserving his relationship with CBS News, which he joined in 2014 as a national correspondent. "I didn't want to be arrogant enough to think I didn't need CBS any more and I could just go and do my own thing," he explained. "I also, secondly, have built a community and I didn't want to abandon that. That's why I said to CBS, 'Let's do this together.'"
In discussions with CBS News president Tom Cibrowski, Begnaud advocated for the chance to independently pursue his passion for positive storytelling. "The company has supported a forward-thinking vision and has not been a hurdle to me, but a bit of a partner in supporting me in wanting to do good and bring on brands who want to be a part of it," he said. "The respect and reverence I feel for CBS News has never waned because this is the job I dreamed of having, truly."
Industry Insights and beehiiv's Role
Wendy McMahon noted that she has engaged in conversations with television journalists about potentially going independent, especially as networks face cost-cutting measures and rumors of layoffs. Meanwhile, Tyler Denk, co-founder and CEO of beehiiv, has actively courted journalists, including offering free services for a year to those laid off by the Washington Post and meeting with UK publishers in London.
"I believe that legacy newsrooms have enormous strengths," McMahon remarked. "They have scale, they have news-gathering resources, which are vital, they have standards, and all of those pieces and parts are really important to a journalist. But what the independent space provides is the innovation and the intimacy, and the new definition of community and fandoms. The future of media, the future of journalism, requires a shared purpose between established players and emerging creators."
Begnaud echoed this sentiment, expressing gratitude for the changing business environment. "There are things people are saying 'yes' to today that if I had asked in the past, they would have laughed me out of the room ... I'm grateful to be alive at a time when the business is changing, because as scary as it might be and seem, and it does at times, I also see it as an immense, incredible opportunity."
beehiiv's Appeal and Growth
Although a newer entrant compared to Substack or Patreon, beehiiv has gained popularity among journalists and celebrities by not taking a cut of subscription revenue, instead charging monthly or annual user fees. The platform's media collective offers benefits such as health insurance, access to wire images, and legal review services, mirroring perks of traditional news companies.
"I think journalists and independent media are a big and important cohort of the people that we can serve on the platform," Denk said in an interview. "The platform is built to be un-opinionated, very flexible, and to help you basically grow and monetize however you think you best can grow and monetize."
Denk reported that beehiiv generated $30 million in revenue last year but acknowledged ongoing challenges. "I still think we're very early," he admitted. "I don't think we've cracked the code on growth."
