10 ways to make money from your newsletter
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10 ways to make money from your newsletter
When people talk about ‘making money’ from a Substack, they usually mean turning free readers into paying ones. But direct subscriptions are only one potential route for revenue.
There are plenty of other ways to earn from what you’re already doing, and just having an audience exist allows for a wealth of different opportunities.
So let’s talk about the fun part: getting paid. You don’t need a six‑figure list to earn from your newsletter.
Here are ten tried and tested ways to make it happen.
1. Paid subscriptions
Still the most straightforward model. You write, paywall, readers invest and (hopefully) everyone’s happy.
But it only works if you’re giving them something they can’t get for free elsewhere. Think honest takes, niche analysis, or behind‑the‑scenes commentary.
Or perhaps, it’s simply just amazing writing. I’ve seen great writers have success on Substack regardless of what they write about. Edit your work as much as possible — the better it is, the more people who’ll be willing to part with their hard earned cash to read it.
2. Tip jar
A tip jar is low effort and high goodwill. It lets readers send you small or large amounts of money, just because they like what you do. And this one works best if most, or all, of your content is free.
Usually this includes a link to Buy Me a Coffee or PayPal. You won’t retire on it, but it at least signals that your work is worth supporting.
3. Sponsorships
Sponsored slots can turn into a steady revenue stream once you have a few thousand subscribers (perhaps less with a niche or highly desirable list).
Sponsorships work on a number of levels. Sponsored posts, dedicated emails, live events and more. Just ensure that you’re still providing value to your audience, as readers can smell a sellout from a mile a way.
Only ever work with brands you’d actually recommend to your readers even if they didn’t pay you.
4. Deep dives
A free newsletter is great for reach, but deep dives can make you more money.
These are detailed, thoughtful, and usually gated for paying members. Think 2,000 words breaking down how a top writer hit 50,000 subscribers. Why businesses launched and failed. It could be anything, related to any topic, but it’s more extensive and teaches an audience more than just your usual posts.
These posts attract serious readers and make your paid tier feel worthwhile — with a serious amount of work going into the production (and promotion).
5. Q&As
If your audience values your opinion, they’ll pay to ask you things directly.
Monthly Q&A posts or “office hours” can drive engagement. They’re personal, easy to produce, and create that sense of community Substack talks about but struggles to deliver for the most part.
You could mix these up too. Some free, some paid. On or off platform. Variety is the spice of life, after all!
6. Affiliate marketing
Partner with tools or brands your readers already use. Offer them a discount and take an affiliate cut when they sign up. It’s not sleazy if the product fits your niche (though again, only partner to brands you’d authentically recommend).
You should always be transparent: say when you get something for readers signing up and only promote things that actually help your audience.
7. Products
Digital products pair nicely with newsletters because you already have trust and distribution. Sell a short course, guide, or email swipe file that solves a clear problem. And not every product has to be in the ‘writing about writing’ space.
You don’t have to overthink it. One useful resource sold at $29 could outsell months of paid tiers. What expertise do you have? Find that, then pin down a product that matches.
Just make sure you actually write it (no AI bots!), and it holds real value. Otherwise poor reviews will tank sales of your future products.
8. Templates and worksheets
People love shortcuts. A good template saves readers time and gives you another revenue stream.
Examples: a pitch template for freelance writers, a content calendar for creators, or a tracking sheet for newsletter sponsors.
You can charge a small fee for these and keep adding new ones over time.
9. Opportunities
Curate paid jobs, callouts, podcast opportunities or sponsorship listings that your readers can apply to.
You can charge companies to post or gate premium listings behind your paid plan (though I’ve always felt a little off about doing this myself, I discovered one job board charges $29 for the privilege — clearly I’m missing out!).
This works especially well if your niche revolves around freelancing or creative careers. You become a source of income for your readers, and that’s meaningful.
10. Live events
Nothing beats real‑time connection. Host a paid workshop, panel, or casual meet‑up for subscribers.
You could start small: a $10 Zoom chat for half a dozen people where you share a specific strategy. Down the line, you could even expand to in‑person events or retreats. The intimacy of a live event builds loyalty, and loyalty builds up lifetime value (which = more money!).
Money from a newsletter comes from treating your list like an audience, not a number. And you don’t have to use paywalls, though that is an option.
Experiment, track what sticks, and keep your focus on helping readers first.