I have a paid newsletter, and I’ve started a community / education site dedicated to the model, as I couldn’t find one when creating my own.
Let me just say this... people are going to get rich off of paid newsletters, full stop.
But like anything else, it’s a many will play, few will win game.
There are examples of newsletters that have done well, and many examples of newsletters that have not.
In my opinion, given the choice between creating a blog and starting a paid newsletter, the choice is a pretty simple one.
Blogging is heavily saturated.
Google is downright hostile towards new, small publishers.
CPM rates are looking downright anemic.
The legal requirements behind affiliate offers are becoming complex, and sometimes confusing to understand.
On the newsletter side you have enhanced discovery, instant monetization with rates chosen by you, an implied audience that is “in theory” additive by nature, not just hit and bounce. Yes, you’ll have churn, etc. but that is how I am viewing the value prop.