His private newsletter with 1.5k subs earns $1M ARR · Growth In Reverse: Newsletter & Email Growth summary

Key takeaways

Quality and authenticity in newsletters are more important than subscriber count.
Niche communities enable targeted engagement, which can significantly boost growth.
Planning monetization strategies early is critical to newsletter success.
Strong relationships within your industry can drive referral traffic and brand loyalty.
Adaptability in your business model can position you for long-term success.
Provide exclusive content that resonates with your audience to increase loyalty and trust.

Summary

The Power of Quality Over Quantity

In the podcast, Nathan emphasizes that the leverage in a newsletter stems from its authenticity and the founder's direct engagement with subscribers. He warns against building a list just for numbers, highlighting the importance of meaningful relationships and monetization strategies. Rather than focusing on subscriber growth alone, Nathan advises potential newsletter creators to plan monetization pathways from the start.

Niche Communities and Targeted Audiences

Nathan shares how he cultivated a niche audience that ultimately contributed to his newsletter's success. He discusses the importance of understanding your market and honing in on a specific community, rather than attempting to reach a broad audience with varying interests. By connecting authentically with a small, dedicated audience, he was able to scale the newsletter effectively.

Monetization Strategies Before Sponsorships

Before relying on traditional advertising sponsorships, Nathan outlines various monetization strategies he adopted early on. These included offering high-value content and forming partnerships that secured upfront revenue, which helped his newsletter gain traction and become sustainable quickly.

The Role of Relationships in Newsletter Success

Throughout the episode, Nathan discusses the crucial role relationships play in scaling a newsletter. He advocates for creating genuine connections within the industry, which can lead to beneficial collaborations and insights that increase newsletter visibility and subscriber loyalty.

Adapting and Evolving Your Business Model

The conversation encompasses Nathan's perspective on flexibility in business models within the newsletter space. He encourages entrepreneurs to remain open to changes and to experiment with different monetization pathways, such as launching courses or providing consulting services based on newsletter insights.

Building Semi-exclusive Content for Higher Value

Nathan describes his strategy of offering exclusive content to the right audience to build trust and increase perceived value. By carefully curating content that resonates with specific subscribers, he maximizes engagement and loyalty. He emphasizes the need for founders to personally engage with their audience to foster deeper connections.

Show notes

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“You have to be first—or you have to be best. That's how you win at paid content." — Nathan May, The Feed Media

In this episode, we interview Nathan May, founder of The Feed Media.

Nathan shares how he turned a small, private newsletter into a $1M ARR business in under a year, and how his agency helps some of the biggest creators and media companies scale their audiences with paid growth.

We dig into the playbooks behind The Feed Media, the experiments that worked (and the ones that didn’t), and why even a small but mighty list can generate outsized revenue. Whether you’re looking to monetize a niche newsletter or scale a larger media brand, Nathan’s story offers a unique perspective on growth and revenue.

>>Get 30+ video lessons and ideas for optimizing your newsletter: https://growthinreverse.com/vault

KEY TAKEAWAYS

The surprising first step Nathan took before writing a single newsletter issue
Why building around a niche community gave him an unfair advantage
The revenue model he used before sponsors ever came knocking
How The Feed Media structured its first monetization funnel
The newsletter flywheel Nathan swears by for compounding growth
The counterintuitive move that actually boosted subscriber trust
Why his first 1,000 subs mattered the most
The overlooked channel that drove some of his fastest growth
How Nathan would start & scale a B2B newsletter today
The single most important metric he tracks inside The Feed Media

LINKS MENTIONED

TheFeedMedia.com
Nathan May on LinkedIn
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Thanks to Tim Forkin for editing these episodes.