I first got into the newsletter space in 2018.
Back then:
- A 40% open rate was considered pretty good.
- Milestone referral programs actually worked.
- Most newsletters needed 3–6 months to earn back the cost of acquiring a new subscriber.
Things have changed... a lot.
So what qualifies as “good” paid‑growth performance in 2025?
I gathered fresh data from the top newsletters we work with at SparkLoop plus several trusted paid‑social agency owners.
Below are the 2025 benchmarks for the only two metrics that really matter:
- Payback Period
- Return on Ad Spend (RoAS)
How do you stack up?
1️⃣ Payback Period Benchmarks
Quick refresher: The Payback Period is how long, on average, it takes to earn back what you spent to acquire a subscriber.
Example• Acquisition cost: $2 (Meta ads)• Revenue generated: $2 after 60 days• Payback Period = 60 days
Shorter payback periods = healthier newsletters and faster growth.
Here are my 2025 benchmarks:
This time last year, “good” meant 1 month.
It’s exciting to see how much better top newsletters have become at monetizing subscribers in the first few days (or even seconds) after sign‑up.
In particular, many have started to follow my lead and monetize their post-opt-in flows (<– my personal crusade).
A growing number of newsletters now earn back 100%+ of acquisition cost within 24 hours, which effectively lets them scale via paid social for free.
2️⃣ Return on Ad Spend (RoAS) Benchmarks
RoAS is my favorite way to measure long‑term paid‑growth performance.
Plenty of operators still fixate on cost per subscriber, but that ignores how much profit a subscriber produces.
For Example:• Subscriber A: costs $1, generates $5 → 5× RoAS• Subscriber B: costs $3, generates $30 → 10× RoAS
Even though subscriber B is 3× more expensive to acquire than subscriber A, you earn 2× more by acquiring subscribers like B.
Here are my 2025 benchmarks for RoAS:
RoAS itself hasn’t moved much in recent years.
The bigger shift is where the revenue comes from. Anecdotally, the newsletters I'm talking to are reporting less revenue from ads/sponsorships, and more from their own products and services layered on top of the newsletter.
How does your newsletter compare in the ratings?
Hit reply and share a link to your newsletter. I’ll respond to as many as I can with ideas to move you into the “good” or “best‑in‑class” tier.
