Newsletters Are Over — Distribution Moved On
Mike Smith
Spicy Level
The Take
Email open rates are declining. Gmail tabs hide newsletters. The newsletter boom of 2020-2023 was a distribution arbitrage that's been arbitraged away. Build on platforms where attention lives now.
+Why I'm Right
Average newsletter open rates dropped from 35% to 20% in 3 years
Gmail promotions tab is a content graveyard
Social media algorithms reward native content over link-outs
The most successful 'newsletter' creators are really social media creators who also email
?The Counter-Argument
“Email is still the only distribution channel you own. Platform algorithms change overnight. Newsletters are insurance against algorithmic capriciousness.”
Agree? Disagree? Tell me.
@MikeSmithShow on X. I respond to good arguments.
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