By Daniel Roman · Nov 11, 2023

Welcome back! Total reading time 2 minutes

💎 Hidden Gems of the Week

❌ I was wrong about newsletters...(link)

🕒️ Three reasons to start a newsletter (link)

👉️ Josh Spector shared his newsletter workflow. (link)

🤑 How To Build Two $75m+ Newsletter Empires. (link)

💰️ This email newsletter generates $30 million per year. See how. (link)

☀️ Good Morning Newsies,

2 Weeks ago Matt McGarry released his thoughts on what the state of Newsletters for 2024 might be like.

The highlights:

1. 🧑‍🎨 More creators and celebrities will launch newsletters.

2. 📈 Successful newsletters will acquire failed ones as a growth strategy

3. 🏢 Non-media businesses (like SaaS companies, agencies, law firms, and investment funds) will use newsletters as a key marketing channel.

The Breakdown:

1/ Since I started my newsletter about 5-6 months ago I have seen more creators start their own newsletter. This is great for the newsletter world, but creators are starting to understand the benefit of having a newsletter, and not rely on Elon or Mark to engage with their followers.

It also helps that ESPs like Beehiiv and Convertkit make it easy to start a newsletter.

2/ In 2023 we saw lots of newsletter acquisitions of other newsletters. One example was The Peak, which is the Canadian version of Morning Brew which sold for about $5 million dollars.

I don’t think more successful newsletters will acquire “failed” newsletters. But I do think we will see more newsletters being sold to other bigger newsletters from creators who start a newsletter and maybe just don’t have the time to run it anymore.

3/ I agree with Matt on the last point that more non-media businesses will start a newsletter to keep their customers engaged a lot more.

For example, a SaaS business has a pretty high churn rate. But if the client is still on the email list. They are still getting updates from the company and are more likely to come back if they see an update they were waiting for that may be why they left in the first place.

The future is bright for newsletters in 2024. Will it be tough? Like anything you start, it will be.

⏰ Sale Alert

It's the only time of the year Beehiiv has a sale!

Take 20% off when you upgrade your Beehiiv plan. By using this link right here. Use code BFCM23

Fun fact: I upgraded to the Scale plan so watch out for some updates. ✅ 

📈 Newsletter Metrics This Week

_{I want to be transparent and also I think it will be cool to see the weekly growth of a newsletter}

• Open Rate: 57.3%

• Click-Rate: 22.3%

• Subscribers: 198

Almost near the finish line…

🐦 Tweet of the Week