From paid subscriptions to sponsorships: Unlock the full financial potential of your newsletter
Last September I wrote an article titled “Stop chasing social media and master your newsletter instead: Essential tips for media growth” in which I argued, rather strongly, that every media outlet should focus on building newsletters instead of worrying about their social media.
On social media, you don’t own the algorithm deciding the placement on your content or the audience, but with a newsletter, you are in full control regarding the key facts like: when to send it, who has engaged with the content, what is the most popular link in the newsletter, and most important of all, the subscribers… So for example, you don’t like the platform you are sending the newsletters from? Nothing to worry about… just export the subscribers and move them to a new one. Easy-peasy.
I challenge you to try to do the same thing with Facebook: export all those thousands of fans and followers you spent years attracting there… Well, good luck with that!
But… is there any return of investment (ROI)?
In 9 out of 10 discussions on newsletters with editorial teams seeking digital revolution, one key question gets asked: “Ok on the newsletters, but is there any ROI with them?”
If the reasons mentioned in the above article – engagement, community building, content placement, brand awareness… are not convincing enough, let’s talk about MONEY.
How can you make money with newsletters?
If you do things the right way, you can have a significant revenue from your newsletters. In this article, we will focus on a few monetization tactics and how to “make it rain” from this piece of digital content. To clarify, no one here is saying that it is easy to implement and actually benefit from all of this, and hard work and proper mindset is required, as with many other things in life…
Let’s explore a few different models of newsletter monetization, that mainly depend on the type of audience, content, and strategy you have behind your media outlet.
Some of the most effective monetization methods include:
1) Paid subscriptions,
2) Sponsorships/advertising,
3) Affiliate marketing,
4) Community building and events,
5) Selling digital products,
6) Crowdfunding and reader donations, and
7) Job boards and classified listings.
Now, let’s explore all of them in a bit more detail, and provide a few examples as well.
1. Paid Subscriptions (read: exclusive content)
In 2025 we are witnessing a new correctional wave that is ongoing for the past 2-3 years in the digital culture: paying for content. As readers we are seeing more and more paywalled content, and we are getting used to it with some of us willing to pay for some exclusive content and premium reports or analysis.
Example #1: Sinocism, a newsletter about China’s political and economic landscape, charges a monthly fee for in-depth analysis unavailable in mainstream media.
Example 2: The Information, a tech and business journalism newsletter, offers exclusive insider news and analysis through a paid subscription model.
Pro tip: Don’t immediately paywall things. Give free access first and start introducing paid tiers slowly.
Pro tip #2: This is a great tactic for niche media – but if you are mainstream, then consider breaking down your newsletters into niches. New York Times, The Economist, and many others are doing that.
2. Sponsorships and advertising (the classics)
This is a fairly simple one: companies and brands want to get in front of engaged, targeted audiences and if your newsletter delivers that, you can charge premium rates for ad placements or sponsorships. The CTA rates in well placed ads in newsletters are much, much higher than rotating banner ads in standard placements in ad networks, and marketers know this very well. Consider the standard below the logo partner ad placement, as well as native ad placement within the newsletter. Or just add simple banner ads.
Example:Morning Brew started as a free daily business newsletter and now generates millions in ad revenue by partnering with companies that want access to their audience of professionals.
Did I mention that Morning Brew sold its 4 million subscriber audience for $75 million?
Pro tip: Be selective with sponsors. Readers trust your recommendations, so only promote brands that align with your audience’s interests. Remember, trust is very, very important in the newsletter business, or else you are getting that high unsubscription rate.
3. Affiliate marketing (get paid for recommendations)
Affiliate marketing means you get a commission every time a reader purchases a product or service through your referral link. If done right, it can be a seamless, valuable addition to your newsletter. You can build your own referral program and offer it to partners, or you can participate in existing ones, including famous programs like Amazon.
Example: Wirecutter, a product review site owned by The New York Times, monetizes its recommendations through affiliate links within its newsletter.
Pro tip: Only recommend products you genuinely believe in or align with your brand… your audience will smell a BS and cash grab from a mile away…
4. Community building and events (monetizing access)
A newsletter can be the gateway to something even bigger – a (paid) community someone wants to be a part of, a private club of like minded people that gets exclusive webinars, or in-person events where subscribers pay for deeper engagement and networking.
Example: The Hustle launched a paid Trends community where members access reports, insights, and a network of like-minded professionals.
Pro tip: People don’t just pay for content… they pay to be part of something, a community. Build that sense of belonging!
5. Selling digital products
At the end of the day, if you have readership and the numbers align, then why mix your content with something something people can actually buy? E-books, research reports, or online courses can all be natural extensions of your newsletter if you are not into finding partners for some classical product sales. Finding products that align with your media outlet gives you extra points on this one.
Example: Axios Pro, a premium extension of the Axios newsletter brand, provides industry-specific insights for a paid subscription fee.
Pro tip: If your newsletter content is already helping readers, there’s a good chance they’ll pay for a deeper analysis and to read more of that.
6. Crowdfunding and reader donations (ask for support)
This one is not a personal favorite of mine, as it doesn’t yield long term results and feels a bit like begging… But some media outlets and newsletters thrive on this kind of reader support, so who am I to judge… Whether through one-time donations or ongoing memberships, this model allows you to sustain work on the newsletter without relying on advertisers or subscriptions.
Example: The Guardian’s newsletter, which operates on a voluntary donation model, allowing readers to contribute what they feel is fair.
Pro tip: Be transparent about why you need support and how it helps sustain quality journalism, as well as how you spend your money.
7. Job boards and/or classified listings
This one really works two ways, while one of them works with great success rates, the other feels like a pure lottery:
1) If your newsletter caters to a niche industry, offering a job board or classified section can provide value to both employers and job seekers while generating revenue.
2) if you have huge readership, then offer classifieds and job board
Are you guessing which one is the lottery type of chances?
Example: MediaGazer, a media industry newsletter, offers a job board where media companies can post openings for a fee.
Pro tip: Focus on high-quality listings that align with your audience’s interests to maintain credibility. Again, niche really helps here.
So…which one should you pick for YOUR newsletter?
I know this one will read like some fine print, but that’s the truth: there’s no one-size-fits-all model. Some newsletters thrive on subscriptions, others on sponsorships, and many use a mix of methods. The key is to test, iterate, and find what works best for your audience. Don’t be afraid to explore – you will get extra points with your readers if you involve the audience in testing and providing feedback… maybe even grease the wheels by throwing some benefit for good feedback like a branded T-shirt, mug etc…
And remember, newsletters aren’t a side project. They are a serious business – check that Morning Brew $75 million dollar story if you are still not convinced yet…
