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Discover the Million-Dollar Secrets: 10 Newsletters Earning Big and How You Can Too
Strategies for Small Teams to Build Profitable Newsletters
Russell Cargill
March 5th, 2024
Table of Contents
Are newsletters still relevant in this era of 15-second attention spans, given the constant barrage of attention-grabbing platforms?
Can they truly captivate an audience and pave the way to a seven-figure empire?
Amid the digital frenzy of social media, blogs, podcasts, and many online channels, evidence continues to suggest that newsletters are here to stay.
In fact, they might just be your best bet for building your audience.
They offer unparalleled control and personalization, ensuring that your message hits its mark with laser precision.
But, back to the initial question. Can you build a seven-figure revenue newsletter? Yes, absolutely!
In this article, I’ll walk you through ten extraordinary newsletters, each raking in seven-figure revenues.
These newsletters have generated substantial revenue, all while being built from the ground up, on modest bootstrapped budgets and with lean, efficient teams.
What’s the secret?
Keep reading to find out.
(Source)
Estimated Annual Revenue: $5-$10 million
Subscribers: 1,250,000
Monetization: Sponsors
Growth: Paid ads
Team Size: 4
Let's kick things off with the TLDR Newsletter—a true powerhouse in the game.
With a lean team of just four and a subscriber base that's reached astronomical heights thanks to paid advertising, TLDR's monetization strategy revolves around lucrative sponsorships.
Based on their numbers and rate card, we can roughly work out that TLDR brings in a cool $4.7 million yearly ad sponsorships.
To keep the content machine running smoothly, Dan, the mastermind behind TLDR, kicks off his research process the night before, carefully selecting the key stories to cover.
By the next morning, he's already cooking up concise summaries and analysis of those pieces, all in about 30 minutes flat.
Talk about a well-oiled machine. From there, Dan hands things over to a few trusty assistants who help out with proofreading and publishing.
Estimated Annual Revenue: $2-$3 million
Subscribers: 560,000+
Monetization: Paid subscriptions
Growth: Twitter and Substack recommendations
Team Size: 1
Lenny himself is the one-man band running the show at Lenny’s Newsletter.
Armed with his expertise in product growth, he's managed to attract a hefty 18,000+ paying subscribers, resulting in a recurring revenue stream that exceeds $2 million.
Lenny Rachitsky begins writing each newsletter issue around a burning question from his audience.
Then, he takes a deep dive into topics around SaaS, product, and growth, keeping things at 700-1,200 words, which is the sweet spot for his audience.
Justin Welsh
Estimated Annual Revenue: $1.5-$2.5 million
Subscribers: 180,000+
Monetization: Courses, sponsorships
Growth: LinkedIn, Twitter
Team Size: 1
Justin Welsh is a man who needs no introductions. Leveraging his substantial social media following, Justin offers free newsletters and $150 courses, which have enabled him to amass a large audience of over 23,000 course buyers, resulting in a substantial $2.5 million in sales.
Justin's daily routine involves diving into content consumption and then spending the next few days exploring ideas, frameworks, and commentary cherished by his audience of growth marketers.
The Van Trump Report
Estimated Annual Revenue: ~$20 million
Subscribers: 30,000-40,000 (paid)
Monetization: Paid subscriptions
Growth: Direct, word of mouth
Team Size: 1
Kevin Van Trump is the man behind the daily newsletter for people in agriculture - farmers, investors, traders, you name it.
Kevin, who's been in the industry for over 30 years, shares insights on market trends, policy, weather, and other factors that affect farming.
It's popular among agribusiness people, with about 30,000 to 40,000 paid subscribers.
It's known for providing specialized, valuable information that helps make profitable decisions and manage farming risks.
Because the content is so specialized and tailored to the needs of those in the agricultural industry, subscribers are willing to pay premium rates to get this information.
This subscriber-based model ensures a steady income stream for the newsletter, providing exclusive, high-quality content that can't be found elsewhere.
This focus on delivering value to a niche audience makes it a viable and profitable venture, with estimations equalling $20 million in revenue.
Stratechery
Estimated Annual Revenue: $3-5 million
Subscribers: 26,000+ (paid)
Monetization: Paid subscriptions
Growth: Direct traffic, SEO, word of mouth
Team Size: 1
Written by Ben Thompson, it covers topics in the world of technology and media, offering insightful analysis and commentary on the latest trends, business strategies, and the economic impact of major tech companies.
Thompson's expertise in the field, combined with his unique perspective, makes Stratechery a go-to resource for understanding the complex dynamics of the tech industry.
Stratechery has achieved significant growth and readership through "direct website traffic as well as SEO optimization and word-of-mouth recommendation," as evidenced by its in-depth examinations of prominent technology companies and developments.
As for how Stratechery makes money, it operates on a freemium subscription model.
Stratechery boasts a crew of over 26,000 loyal paid subscribers, each contributing $120 per year, resulting in an impressive estimated annual revenue of $3-5 million.
There's a set of content available for free to all readers, which helps attract a wide audience and build a following.
However, the more in-depth analyses, daily updates, and exclusive articles are reserved for paying subscribers.
It's a smart approach that has made Stratechery a respected voice in tech commentary and a successful business venture in the digital content space.
Superhuman AI
Estimated Annual Revenue: $1-$2 million
Subscribers: 500,000+
Monetization: Sponsorships
Growth: Social media, paid ads
Team Size: 2
Superhuman AI is a fascinating AI-focused newsletter created by Zain.
Before creating the newsletter, Zain spent over a year and a half just immersing himself in the world of AI before launching.
"I was genuinely fascinated by this topic. I'd been immersing myself in it for years and even explored building something in this space." Zain quotes.
His passion and dedication are evident, and it's paid off. He's built a community of over 250,000 Twitter followers.
Now, the newsletter has over 500,000 subscribers and pulls in an estimated $1 to $2 million annually, mostly through sponsorships.
And it's just Zain and one other person running the show!
They've grown their audience massively through social media and paid ads.
It's pretty incredible how Zain's unique content and storytelling, honed through relentless practice, have become the core value of Superhuman AI.
It's quite an inspiring story for a two-person team.
The Generalist
Estimated Annual Revenue: $1.5-$3 million
Subscribers: 100,000
Monetization: Paid subscriptions and sponsorships
Growth: Twitter, collaborations
Team Size: 2
Next up, we have The Generalist, raking in an estimated $1.5-3 million annually that writes on a variety of topics.
It's run by Mario Gabriele and one other team member.
They monetize the newsletter via their 100,000 subscribers, who pay $10 a month, and they also make money from sponsorships.
Mario and his teammate live by the venture capital mantra, "Your size is your strategy."
Their growth strategy is smart, which leverages X (Formerly Twitter) threads and various collaborations to expand their reach.
It's quite something how they've managed to scale up and have such a big influence with a lean team.
Marketing Examined
Estimated Annual Revenue: $1-$2 million
Subscribers: 100,000+
Monetization: Sponsorships
Growth: Twitter, Meta ads
Team Size: 1
Marketing Examined is a newsletter with a fascinating story that started in 2023.
Alex, the one-man band behind the newsletter, adopted some interesting marketing strategies.
In a short time, Alex managed to grow the subscriber base from 0 to over 100,000.
Again, that’s very impressive, as Alex runs the whole show, from creating content to building the community.
So, where did this growth stem from?
Before diving into long-form newsletter content, Alex ran test ideas by engaging with followers on social media, aiming for at least 15 comments per post.
This strategy really paid off. At one stage, Alex ran 50 daily Twitter threads on specific topics and gained 9,000 new subscribers.
Today, they are on track to hit $2 million ARR.
Alex shared some savvy growth strategies in his "Roadmap to 100K Subs," like trading newsletter placements, using targeted creatives for social media ads, and leveraging referral programs to turn fans into brand advocates.
It's quite a story of success for a one-person team.
Marketing Examples
Estimated Annual Revenue: $600k-$1 million
Subscribers: 120,000+
Monetization: Sponsorships, coaching, courses
Growth: Content distribution
Team Size: 1
Marketing Examples is another one-man show run by its founder, Harry Dry, who understands the community's importance.
Harry built up over 120,000 subscribers by genuinely engaging with different online communities and smartly distributing content across various platforms.
His philosophy is all about adding value before promoting.
Harry quotes, "The best self-promoters aren't self-promoters. They take the time to become a genuine member of each community.”
His approach is to take long-form articles and break them down into visual snippets for platforms like Facebook and share the full pieces on X (Formerly Twitter), Reddit, and Indie Hackers.
This approach has helped create a strong, engaged following.
In terms of revenue, Marketing Examples makes an estimated $600k to $1 million annual revenue.
This comes from a mix of $900 coaching calls and sponsorships. Currently, Harry is looking into launching online courses.
Cha Ching!
UI Dev
Estimated Annual Revenue: $2-$4 million
Subscribers: 225,000+
Monetization: Courses, sponsorships
Growth: SEO, YouTube, paid ads
Team Size: 4
UI Dev is run by a small team of four, but they've made a big splash with over 225,000 subscribers.
They offer a range of high-value courses that have resonated with their audience.
Financially, they're doing quite well.
They've gone from $1 million in annual recurring revenue to over $5 million in just 14 months.
Their income mainly comes from course sales and sponsorships. As for their growth strategy, they've smartly used SEO, YouTube, and paid ads to expand their reach and attract more subscribers.
It's pretty impressive how UI Dev has managed to grow so quickly and effectively, especially in the competitive field of online education, and all with a relatively small team.
Why Trust Me?
I bring expertise, results-driven strategies, and a powerful arsenal of email marketing knowledge to supercharge your business.
With a track record of driving substantial revenue through compelling copy, I'm here to help make an impact on your email marketing efforts.
The Framework For Success
In this section, I’ll dive into the essential elements that form the backbone of successful newsletter ventures.
From identifying your niche to leveraging the latest technology.
Let's explore these key areas to understand how they come together to create a thriving newsletter business.
1. Identifying Your Niche
Starting a successful newsletter is all about finding and focusing on a specific audience you enjoy.
Like Justin Welsh says, "Misery doesn't scale."
You've got to decide who you want to spend your time with and serve. Think about Ben Thompson from Stratechery, who's nailed it by targeting tech industry pros with content that speaks directly to their strategic needs.
This approach helps build a loyal, paying subscriber base.
2. Content Is King
Quality content is everything. Take Lenny Rachitsky, for instance. He's got over 500K monthly readers thanks to his spot-on articles about product management best practices.
Or Marketing Examples, mastering the art of engaging copywriting, and keeping over 120K subscribers hooked. Delivering consistent, valuable content is key to building trust and reaping rewards through premium offerings.
3. Monetization Strategies
Newsletters can make money in different ways. Look at Justin Welsh, who is making a whopping $150K per sale through online courses and mentorship.
Or TLDR, with 1.25M readers and $5-10M annually, mostly from sponsorships. Having diverse income streams is crucial for long-term success.
4. Growth Techniques
Growing your subscriber base takes smart strategies. Superhuman AI, for example, hit 500K subscribers through X (Formerly Twitter) marketing and strategic paid social campaigns.
Justin Welsh found success on LinkedIn and through industry collaborations. The Generalist focused on building a strong Substack community.
Trying different channels helps you find what works best for you.
5. Community Engagement
Once you've laid the foundation, it's all about building a community. UI Dev did this by fostering discussions on social media, reaching 225K readers.
Stratechery engages its audience through virtual talks and conferences, creating a supportive network that helps spread the word.
6. Leveraging Technology
Using the right tools is crucial.
beehiiv’s 3D Analytics help you understand what's working and what's not. Automation tools can manage tasks like lead nurturing, which is a lifesaver for small teams.
Challenges and Solutions
Content Creation: Time's always a challenge. Setting up content calendars and getting help from subject-matter experts can make a huge difference.
Subscriber Retention: Keeping your current subscribers is cheaper than finding new ones. Engage them with surveys, interactive content, or even virtual office hours to build stronger relationships.
Effective Marketing Experimentation: Testing different marketing channels without blowing your budget is key. Start small, see what works, and then scale up. Collaborations with other brands can also help extend your reach efficiently.
Conclusion
The journey of creating and growing a successful newsletter is filled with opportunity, innovation, and the potential for significant personal and financial rewards.
This article walked you through proven paths to success.
Now, it's your turn to take the helm and start your own newsletter adventure.
Whether you're passionate about a specific topic, eager to share your expertise, or simply looking to connect with a like-minded community, launching a newsletter can be a fulfilling and rewarding endeavor.
And what better way to start that journey than with beehiiv.
beehiiv offers the tools and support you need to create, grow, and monetize your newsletter effectively.
The platform is designed to make the process of newsletter creation intuitive, efficient, and enjoyable, helping you focus on what you do best – creating great content and building a community.
So, why wait?
Sign up with beehiiv today and start making your mark.
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