A sponsor has asked what you charge, and you have no idea what to say. Most newsletter owners guess, pick a round number and hope. We would rather you used a simple formula. This guide shows how newsletter ads are priced, what a fair rate looks like at your size, what pushes it higher, and how to put it all on one page sponsors can read.
Most newsletters price ads by CPM, the cost per 1,000 opens. Publishers commonly charge $10 to $30 CPM for general audiences and $50 to $75 or more for niche B2B or finance readers. To find your price, multiply subscribers by open rate, divide by 1,000, then multiply by your CPM.
Who this is for: Newsletter owners, coaches and creators about to sell their first or next sponsorship.
There are three common ways to price a newsletter ad. Most sponsors will understand all three, so pick the one that suits your list and your stage. Whichever you choose, write it down and use it every time. Sponsors trust a newsletter that quotes the same price to everyone.
Flat rates are simplest to sell because the sponsor knows the cost up front. CPC shifts the risk onto you, because a weak ad or an off day means less money. We suggest most newsletters start with a flat rate built from CPM, then add performance deals later once you know your click numbers. If a sponsor insists on CPC from day one, ask for a small guaranteed minimum so a quiet week does not leave you working for free.
Start with the formula: price = (subscribers × open rate ÷ 1,000) × CPM. You are charging for the people who actually open the email, so open rate matters as much as list size. Use your real average open rate from the last few months. Be honest here, because sponsors can check.
The table below shows what a primary placement (the main ad, usually near the top) might cost at three list sizes. We assume open rates drop a little as lists grow, which is normal. The $25 CPM column fits a general audience. The $50 CPM column fits a focused niche such as B2B software, finance or high-ticket coaching.
| Subscribers | Open rate (assumed) | Opens per issue | Primary ad at $25 CPM | Primary ad at $50 CPM |
|---|---|---|---|---|
| 2,000 | 45% | 900 | $22.50 | $45 |
| 10,000 | 40% | 4,000 | $100 | $200 |
| 50,000 | 35% | 17,500 | $437.50 | $875 |
Secondary placements, such as a smaller ad lower down or a short classified line, usually sell for around a third to a half of the primary price. Small lists can round up to a sensible minimum, since nobody wants to invoice $22.50. Many small newsletters set a floor of $50 to $100 per primary ad and justify it with a tight niche and strong clicks.
Two lists with the same number of subscribers can charge very different rates. Sponsors are buying attention from the right people, and some attention is worth far more than others. These are the things that push your rate up:
If you are unsure what your list is really worth as a business asset, our guide to how much an email list is worth walks through it. Before you raise prices, ask a few readers what they do for work. That one email can lift your rate more than a month of growth.
A media kit is a one-page summary that tells a sponsor who reads your newsletter and what it costs to reach them. It does not need to be fancy. A clean PDF or a simple page on your site works well. Keep it short enough to read in two minutes. A busy marketer should be able to decide from this page alone.
Include these parts:
Update the numbers every quarter. Stale stats make sponsors nervous. It also helps to show one or two past ads as examples, so a sponsor can picture how theirs will look. Once your kit is ready, our guide on how to get newsletter sponsors shows you where to send it.
With your first sponsors, aim a little below your formula price. You have no track record yet, and a fair first deal makes it easy for them to say yes. Then send them a short report with opens and clicks after the issue goes out. If the results are good, raise your rate for the next booking. Small steps of 10 to 20 percent are easy to justify. Tell new sponsors when your next price rise is due, as it gives them a gentle reason to book now.
Packages help too. Selling three or four placements together, at a small discount, gives the sponsor more time to see results and gives you steadier income.
Ad networks match you with advertisers and handle the admin, but they take a cut. They suit you when you are small, busy or still learning what sponsors want. Selling direct earns more per placement and builds real relationships, so it makes sense once you have a clear niche. Many newsletters do both. Compare options in our list of the best newsletter ad networks, and see the wider picture in how to monetise a newsletter. At Unbury, we help coaches, consultants and founders grow their lists and turn them into steady income.
Publishers commonly charge $10 to $30 CPM for a general audience. Niche lists in areas like B2B software or finance often charge $50 to $75 CPM or more. Your open rate and past click results will decide where you sit in that range. A small list with a sharp niche can sit near the top.
Using the formula, 1,000 subscribers with a 45% open rate gives 450 opens. At $30 CPM that is about $13.50 per ad. Many small newsletters set a minimum of $25 to $50 per placement, or bundle several issues together to make the deal worth it for both sides.
Charge per open, because opens are the people who actually see the ad. Pricing by subscribers alone can overcharge sponsors if your open rate is low, and they will notice. Basing your rate on opens keeps it fair and easy to defend. Just remember that some email apps inflate opens, so share click numbers too.
They work well together, and many newsletters run both. Sponsorships earn more as your free list grows, while a paid tier earns from your most loyal readers. If you want to compare the two properly, read our guide to running a paid subscription newsletter. Start with whichever one your readers would welcome most, then add the other once the first is steady.
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