Get Matt's 1,000 Email Subscriber Formula: https://growthinreverse.com/matt-yt-download/
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"The way to monetize a small, niche audience is not sponsorships — it’s higher-ticket services." — Matt McGarry, GrowLetter
Matt McGarry has helped grow some of the largest newsletters in the world — including The Hustle, Milk Road, and 1440 — to millions of subscribers. But in this conversation, he makes a contrarian case: you don’t need a massive email list to build a highly profitable newsletter business.
We dig into why sponsorships are a weak monetization strategy for most creators, how Matt generates $76+ per subscriber from LinkedIn, why short-form video is the most underutilized growth channel for newsletters right now, and how to think about business models before chasing scale.
Matt also shares how he’s evolved his own newsletter past 50,000 subscribers, what growth channels are actually working in 2025, and why events, services, and higher-touch offers often beat low-ticket products — especially early on.
KEY TAKEAWAYS
- Why sponsorships are one of the weakest newsletter monetization paths
- How Matt earns $76 per LinkedIn subscriber (and why lead quality matters more than volume)
- How one YouTube video drove 1,000+ email subscribers with a simple lead magnet
- When not to start paid growth — and the exact criteria Matt uses before spending a dollar
- Why newsletters should often monetize with services and consulting before products
- The biggest newsletter opportunity most creators are ignoring in 2026
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