New digital media companies are thriving despite the challenging news landscape. Unlike their predecessors, they prioritize sustainable growth over rapid expansion, targeting specific niches and high-income readers. These start-ups, such as Puck and Punchbowl News, have attracted top journalists by offering them ownership stakes and bonuses based on subscriber numbers. By diversifying revenue sources and focusing on specific audiences, they are charting a new path for success in digital publishing. However, the long-term sustainability of these companies remains uncertain.