FIFTY+

Investor Due Diligence Report

by Cody Townsend

ghostSports

Chronicling the mountains, lines, opinions, gear and business of backcountry skiing from Cody Townsend

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Key Metrics

Subscribers

695K

Medium confidence

Weekly Growth

~0%

Subscriber count is a platform estimate

Revenue Analysis

Pricing

$6/mo

$50/yr annual option

Est. Monthly Revenue

$246K

~52.1K est. paid subs

$123K/mo – $369K/mo(±50%)

Engagement

Avg Comments/Post

5.3

Engagement Rate

0.00%

(comments + likes) / subscribers

Quality & Publishing

Audience Quality Score

53Fair

0100

Publishing Pace

Monthly

0.4 posts/week

Publishing Consistency

66/100

Consistent (~19.4d avg)

Competitive Landscape (Sports)

Newsletter	Subscribers	Weekly Growth	Price	Platform
Culture of Sport	176K	N/A	Free	substack
the Daily Briefing	169K	N/A	Free	substack
Huddle Up	135K	N/A	Free	substack
The First Call	106K	-0.5%	Free	substack

Revenue Trajectory

Estimated monthly revenue over time

Month	Subscribers	Est. Revenue	Change
Feb 2026	4.5K	$2,122.5	—
Mar 2026	9K	$4,245	+100.0%
Apr 2026	5K	$2,358.33	-44.4%
May 2026	9K	$4,245	+80.0%
Jun 2026	9K	$4,245	~0%
Jul 2026	9K	$4,245

Risk Assessment

Key risk factors for due diligence

Medium

Platform Dependency

Uses ghost platform

Medium

Publishing Consistency

Variable publishing frequency

Medium

Key Person

Single-author publication — key-person dependency

Low

Revenue Model

Active paid subscription tier

Monetization Readiness

Monetization status

Subscriber threshold

695K subscribers — above the 1K category median for first paid tier

Has paid tier

Active paid subscription offering

Peer monetization

100% of 6 similar-size peers in Sports have paid tiers

Pricing position

$6/mo vs $5/mo category median (336 newsletters)

Pricing History

Date	Monthly	Annual
Feb 2026	$6	$50

Data Quality

Report Data QualityPartial - Some metrics estimated or missing

Subscriber Confidencemedium

Disclaimer: This report is generated automatically based on publicly available data and proprietary estimation models. Estimated subscriber counts are derived from engagement patterns and should be verified through direct disclosure. Revenue estimates are based on known pricing and estimated paid subscriber counts. This report is for informational purposes only and should not be the sole basis for investment decisions.