Most decent newsletters phase out monthly subscriptions entirely and just keep yearly rates. Native sponsors should make the majority of cash on hand to reinvest in growth. Subscription should not be the bulk of the revenue. Newsletters should be an onboarding to upselling of more premium products like courses or consulting or other digital products.
It's hopeless to assume that a newsletter is the primary product and that monthly subscriptions can scale for most writers. It's just a flawed business model in so many ways without either diversification or on ramps to hire margin products.
Thanks Michael, makes total sense. In your experience, what is a common ratio of income from paid subscriptions versus income from sponsorships or other non-subscription based sources in financially successful newsletters?
Great suggestions! I wish that Substack offered pay per article. I work in education and dislike the idea of linking websites together, but that might be the best method at the moment.
You have given me pause to reconsider doing something for a Founders' membership. Good stuff!
Can't wait to see what you come up with :)
I wish there was a Renaissance-like system where some Medici equivalents act as patrons for writers!
Yes, there were “issues” with those benefactors
And yes, Patreon and crowdfunding are similar ideas, but not quite the same!
Patreon is kinda like a patronage system but for the masses. With all the advantages and limitations one could imagine.
Most decent newsletters phase out monthly subscriptions entirely and just keep yearly rates. Native sponsors should make the majority of cash on hand to reinvest in growth. Subscription should not be the bulk of the revenue. Newsletters should be an onboarding to upselling of more premium products like courses or consulting or other digital products.
It's hopeless to assume that a newsletter is the primary product and that monthly subscriptions can scale for most writers. It's just a flawed business model in so many ways without either diversification or on ramps to hire margin products.
P S. Bundling and micropayments don't work.
Thanks Michael, makes total sense. In your experience, what is a common ratio of income from paid subscriptions versus income from sponsorships or other non-subscription based sources in financially successful newsletters?
Great suggestions! I wish that Substack offered pay per article. I work in education and dislike the idea of linking websites together, but that might be the best method at the moment.