Podcast Summary: The Newsletter Growth Playbook for 2026 with Matt McGarry

Podcast: Growth In Reverse
Hosts: Chenell Basilio and Dylan Redekop
Guest: Matt McGarry (Founder, Grow Letter & Newsletter Operator)
Date: January 21, 2026

Overview

In this engaging episode, Chenell and Dylan are joined by renowned newsletter growth strategist Matt McGarry, to discuss the evolving playbook for growing and monetizing newsletters heading into 2026. Drawing on his experience scaling newsletters like The Hustle, Milk Road, and 1440, Matt shares actionable insights on list growth strategies, lead quality, organic vs. paid growth, monetization models, and the expanding role of events and multimedia in “the new media and content economy.” The conversation is rich with practical advice, memorable stories, and clear-eyed warnings against outdated tactics—essential listening for anyone serious about newsletters as a modern business.

Main Discussion Themes

The Evolution of Newsletter Growth Channels

• Rapid Shifts in Effective Platforms
  • Started with Twitter in 2023 for early organic growth.
  • Shifted to LinkedIn as Twitter’s efficacy declined.
  • SEO/Search traffic built over time via regular publishing.
  • YouTube has emerged as a substantial recent channel.

“What I did in 2023, what that crushed... is completely non-existent now. What’s working now is totally different than back then.”
— Matt (03:01)

Key Growth Tactics by Platform

• Twitter (2023):
  • Quality threads, frequent posting, DM engagement, and profile links for early traction—less effective today.
• LinkedIn:
  • "Comment to get" lead magnet strategy drives 80% of LinkedIn signups.
  • High lead quality (“$76 per LinkedIn sign-up”).
  • Use valuable newsletter issues as lead magnets, gated behind email.
  • Minimal focus on profile optimization; concentrate on featured link/lead magnet over generic newsletter links.
• YouTube:
  • Long-form content with a strong, relevant lead magnet offers.
  • Use first link in bio and pinned comment for lead magnet CTAs.
  • “Comment to get” tactics carry over effectively.
  • Short-form (shorts/clips) still underutilized, especially in B2B.

“We got hundreds of subscribers from that video… over a third thousand email subscribers from that one video.”
— Matt, highlighted by Chenell (06:30)

Current & Future Growth Plays

• Lead Magnets Still Matter:
  • Most newsletter operators fail because they skip a strong, relevant lead magnet.
• Organic Over Paid:
  • Paid ads can build lists quickly but often bring lower-quality leads.
  • Paid channels best suited for those with a tight monetization funnel and clear subscriber LTV.
• Content Market Fit Is King:
  • Consistent, valuable publishing on the right channel trumps hacks.

Newsletter Monetization: Breaking Myths

Sponsorships Aren’t the Golden Ticket

"Sponsorships are one of the worst ways to monetize audiences. You really want to have direct audience monetization."
— Matt (00:07, echoed at 27:54)

• The Problem with Sponsorship-First Models:
  • Relies on unattainable scale for most creators.
  • Churn, constant sales grind, and unreliable revenue.
• Direct Audience Monetization = Best Path:
  • Build higher-ticket products/services for smaller, more engaged audiences.
  • Consulting, cohort-based courses, events, and specialized products highlighted as high-ROI models.
  • Start with services or calls, then productize over time.
  • Use newsletters for trust-building; sell via engagement thresholds and non-intrusive segmentation.
• Practical On-List Selling Approach:
  • Only market offers to subscribers once they’ve engaged with 2–3 emails and clicked at least once.
  • Include easy opt-out links for any sales sequence (“That opt-out rate is very low: 0.05-1%.” – 33:20).

Building When You’re Small

• Large subscriber counts are not a prerequisite for impressive revenue if the offer aligns with audience needs and willingness to pay.
  • Example: Matt’s $50K/mo, reached at around 900 subs via a high-ticket service.

"If you have a thousand email subscribers and 1% buy a $2,000 per month service, you’re at around $20K MRR."
— Matt (24:40 paraphrased)

The Rise of Events and New Media

• Events as Monetization & Community Engines
  • Matt’s live events (e.g., New Media Summit) bring together influential operators, foster high-value networking, and add a high-ticket revenue stream.
  • Events must include actionable content—no “media corporate speak”—and allow space for organic, off-stage insights.

"I just want to have a wider scope… You need to have a full stack understanding of the information space."
— Matt (18:08)

Rapid-Fire Insights & Memorable Moments

Short-Form Video Is Underused

• “People grow way faster focusing on half-decent shorts, than trying to write amazing LinkedIn posts or figure out SEO.”
  — Matt (16:12)

Substack: Friend, Not Foundation

“Substack… is becoming a social platform with some email and newsletter features. It’s not a platform to build your media business exclusively on.”
— Matt (41:32)

When to Start Paid Growth

• Only when you know your content-market fit, have strong monetization pathways, and understand subscriber LTV.
• Paid leads often have lower LTV than organic; budget and plan accordingly.

Calculating LTV/ARPU

• Manual process: Export subscribers per channel, match to customer revenue, calculate per-source ARPU to better assess ROI and channel quality.

Audience Monetization Mindset

• Don’t be afraid to charge your audience—you’re likely serving them better with products than more free content or sponsor noise.

“You’re almost doing them a disservice by not having something for them to buy.”
— Chenell (30:10)

Notable Quotes & Timestamps

• “What I did in 2023… is completely non-existent now.” — Matt (03:01)
• "Lead quality from LinkedIn is crazy high… we're making like $76 from everybody who signs up from LinkedIn." — Matt (08:21)
• “If you have a thousand email subscribers and 1% buy a $2,000 per month service… you're at around $20K MRR.” — Matt (24:40 approx.)
• “Sponsorships are one of the worst ways to monetize audiences.” — Matt (00:07, 27:54)
• "Substack… is closer to Twitter or LinkedIn than it is to building a business." — Matt (41:32)

Key Takeaways

Strategies That Work Now

• Move where the audience is—what worked last year likely won’t work now.
• Double down on organic growth via LinkedIn, YouTube, and search.
• Make every newsletter issue valuable enough to stand as a lead magnet.
• Use “comment to get” lead magnet offers for viral engagement and high conversion.
• Don’t chase scale for its own sake—monetize through services and high-ticket offers.
• Events and community-centric experiences are powerful for both revenue and networking.
• Short-form video is an explosive but underutilized growth arena in B2B/newsletters.
• Be intentional about monetization: sell only after value and engagement, give easy opt-outs.
• Substack is a discovery channel; don’t build your whole business on any single platform.
• Calculate LTV rigorously before ramping up paid acquisition.

Important Timestamps & Topics

• 02:08 – Matt’s journey: growth evolution of Newsletter Operator
• 06:30 – Case study: YouTube video to 1,300+ subscribers
• 08:00 – LinkedIn “comment to get” explained
• 10:51 – Best practices for LinkedIn bios and links
• 13:55 – YouTube growth tactics and calls to action
• 15:06 – Short-form video: clips vs. dedicated shorts
• 17:12 – The rise and design of the New Media Summit
• 21:44 – Newsletter vs. podcast impact on audience and sales
• 24:00 – You don’t need a big list to build a big business
• 30:10 – Monetization mindset shift, rules for ethical selling
• 34:44 – Rapid fire: biggest newsletter opportunities, paid growth strategy
• 39:35 – Calculating LTV by source (manual strategies)
• 41:21 – Substack: pros, cons, and platform strategy

Final Thoughts

This episode distills years of hard-won newsletter experience into a tactical, forward-looking playbook that goes far beyond list size vanity. Matt McGarry, along with Chenell and Dylan, demystifies the latest growth channels, exposes the pitfalls of “sponsorship as default,” and empowers every newsletter operator to take control of their business model. Whether you’re pre-launch or at 50K subs, this conversation is a master class for building a newsletter that’s both thriving and future-proof.

Connect with Matt:

• YouTube: Matt McGarry
• Growth Letter/Grow Letter
• New Media Summit Event — Code: GIR20 for 20% off

Podcast Hosts:

• Chenell Basilio
• Dylan Redekop

(For reference: skips ads/promos; direct links in show notes.)