Adam Neumann quietly builds new media startup

Axios

11-03-2025

Adam Neumann's media company The Flow Trip is profitable with 13,000 paid subscribers, the billionaire businessman and WeWork founder told Axios in an interview.
Why it matters: It's part of Neumann's residential real estate startup, Flow, which was valued at over $1 billion after a16z invested $350 million in the company in 2022.
Media is an essential part of Flow's vertically integrated real estate model, Neumann said.
"I think that in a world where people are so connected digitally, we've never been more disconnected," Neumann said. "The enjoyment of sitting in a living room and having a magazine on a table and sharing a discussion and having a topic to talk about is a little bit underrated."
State of play: Flow, which rents and manages six residential properties across Florida and Saudi Arabia, aims to differentiate itself by focusing on community benefits and residential culture.
The media assets serve as a focal point for the entire company to align on topical themes and events that matter to its community, Neumann said.
"The buildings have events that correlate with the stories that are being told," Neumann said. "The people who our articles are written about are getting the opportunity to partner with us in different ways."
How it works: The company publishes six print issues of The Flow Trip magazine annually. It caters to people who are curious and optimistic about the world, Neumann said.
Past editions include themes like The Happy Issue, The Roots Issue, The Cosmic Issue and The Photo Issue.
The magazine often shares stories from its residents and asks readers to participate in the content.
Last year's photo edition included a photography competition that had more than 17,000 global submissions. Those submissions are now displayed in Flow units and common spaces, Neumann said.
Catch up quick: Flow acquired Whalebone Magazine, a popular Montauk, New York-based lifestyle publication, in early 2024. That spring, The Flow Trip magazine was launched with Whalebone's creative team and paid subscriptions.
By the numbers: The Flow Trip's main media assets are a bimonthly magazine and a free multiday newsletter.
The media brand has accrued 13,000 paid members who pay between $72 and $108 annually, Neumann said.
Those figures don't include the 4,000 residential subscribers who get one year free as a part of their living experience with Flow.
Neumann said he's hopeful those residents will convert into paid subscribers after their free trials expire.
Zoom out: The Flow Trip operates as a stand-alone business within Flow.
The magazine is also available for retail purchase in major airports, grocery chains, book stores and newsstands in Europe.
It sells sponsorships to advertisers that align with its principles around sustainability and healthy living, such as Patagonia, Yeti, Little Words Project and Caddis Eyewear.
The company also curates playlists that stream throughout its properties and sells sustainable clothing and accessories.
What's next: Neumann hopes to reach 20,000 total paid subscribers by the end of 2025.