Sam Parr Book Club | My First Million Podcast

About this video

Sam shares his experience starting an in-person book club in San Francisco and explores the broader book club business model. The hosts discuss existing players like Book of the Month Club, Goodreads, Wattpad, and celebrity book clubs (Reese Witherspoon), then brainstorm how to launch a profitable subscription book club, considering strategies like acquiring rights to classic books or focusing on high-engagement categories like romance novels.

Key takeaways

• Sam started an in-person anti-MBA book club that met weekly with ~30 people, generated email list engagement, and helped him build friendships, though he made no direct revenue from it
• Book of the Month Club reportedly has ~100k paying customers generating $10-15M annual recurring revenue; Wattpad (user-generated romance stories) is a multi-hundred-million-dollar annual business, suggesting strong demand for book-related communities
• To bootstrap a book club subscription, Sam would create a Facebook group at $30-50/month with monthly expert discussions and notes; he’d prioritize romance novels due to their high reader engagement and ’liquidity’ compared to business books

Episode details: published March 10, 2020 · 1.3K views · 7:37 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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