His private newsletter with 1.5k subs earns $1M ARR

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“You have to be first—or you have to be best. That's how you win at paid content." — Nathan May, The Feed Media

In this episode, we interview Nathan May, founder of The Feed Media

Nathan shares how he turned a small, private newsletter into a $1M ARR business in under a year, and how his agency helps some of the biggest creators and media companies scale their audiences with paid growth. 

We dig into the playbooks behind The Feed Media, the experiments that worked (and the ones that didn’t), and why even a small but mighty list can generate outsized revenue. Whether you’re looking to monetize a niche newsletter or scale a larger media brand, Nathan’s story offers a unique perspective on growth and revenue. 

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KEY TAKEAWAYS
  • The surprising first step Nathan took before writing a single newsletter issue
  • Why building around a niche community gave him an unfair advantage
  • The revenue model he used before sponsors ever came knocking
  • How The Feed Media structured its first monetization funnel
  • The newsletter flywheel Nathan swears by for compounding growth
  • The counterintuitive move that actually boosted subscriber trust
  • Why his first 1,000 subs mattered the most
  • The overlooked channel that drove some of his fastest growth
  • How Nathan would start & scale a B2B newsletter today
  • The single most important metric he tracks inside The Feed Media
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Thanks to Tim Forkin for editing these episodes.
His private newsletter with 1.5k subs earns $1M ARR
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