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They allow for community building, and higher valuation multiples when exiting, and the subscribers can be nurtured over time where you can sell them multiple products/services.
Since 2019, I’ve developed 4 successful newsletters that are making mid-6 figures in profit annually, and are worth 7 figures in valuation.
Sales Page: https://cart.thewebsiteflip.com/course-newsletters-for-niche-sites-main/