“The Rail, which reaches about 20,000 readers a month in print and an additional 200,000 online, is among a group of niche publications that have found ways to defy a media industry increasingly preoccupied with greater scale. For these publications, serving small, often highbrow readerships, it is not possible to follow the prevailing model – gathering audiences of millions, or tens of millions, to be sold for pennies to advertisers or converted to subscribers.”