Imagine this: one newsletter in your inbox selling for a staggering 700 billion KRW! It might be hard to believe, but this actually happened. Today, I’m going to tell you this story.
700 Billion KRW for a Newsletter?
While browsing the news as usual, a headline caught my eye: “Newnik Acquires Public’s Membership Part.” I couldn’t help but be amazed that a single newsletter service had grown so rapidly that it was acquiring other services.
I started wondering: How much can a well-developed newsletter grow? What is the most expensive newsletter in the world?
The Agora: Building a Newsletter Empire
First, let’s look into ‘The Agora,’ the most valuable existing newsletter. This newsletter generates an annual revenue of a whopping 1.6 billion USD, approximately 2.2 trillion KRW. Bill Bonner, the founder of The Agora, was interested in stories not covered by mainstream media. So, he quit his job and started a newsletter called ‘International Living.’
Since then, The Agora has grown rapidly, expanding into various categories and countries, and now boasts 20 subsidiaries and over 120 newsletters under its umbrella.
The Secret to The Agora’s Success
What is The Agora’s secret to success? They use very strategic sales techniques. Their core strategy is a relentless sales approach that doesn’t miss a single person.
The Agora employs a 5-step growth strategy:
- Secure traffic through advertising/collaborative promotions
- Send sales videos to collected emails
- Lead customers to the sales page
- Offer upsells or downsells based on purchase intent
- Provide continuous content and upsell products
This meticulous strategy has allowed The Agora to become the most expensive newsletter company in the world.
Axios: The Most Expensive Newsletter Sale Ever
So, what is the most expensive newsletter sale to date? That title goes to Axios, which sold to Cox Enterprises for 525 million USD (about 730 billion KRW). Axios was launched in 2017, led by journalist Jim VandeHei.
The Secret to Axios’s Success
The key to Axios’s success lies in smart simplicity. They maintain a mobile-friendly layout so subscribers can easily read it anywhere, and they use a method where the conclusion is given in the headline. Additionally, they keep each piece of content under 300 characters for brevity.
Who Will Be the Next?
Who will be the next big player? Currently, the most profitable individually operated newsletter is ‘Letters from an American,’ based on Substack data from 2023. This newsletter, which focuses on politics and history, has 1.5 million subscribers.
The Most Profitable Topics on Substack
An analysis of the most lucrative newsletter topics on Substack reveals that politics is the top earner, followed by culture, parenting, food, and business.
Conclusion
- The Agora: Annual revenue of 2.2 trillion KRW
- Axios: Sold for 730 billion KRW
Each of them succeeded through a 5-step funnel strategy and smart simplicity.
Don’t you want to successfully run the newsletter you’ve been dreaming of? By strategically operating with the secrets of The Agora and Axios, you too can build an amazing newsletter empire. Give it a try!