Lenny Rachitsky launched his newsletter about a year before going paid. When he introduced paid subscriptions, he had 15,000 free subscribers.

Pricing Strategy

He priced at $15/month or $150/year, with a launch discount. Initially had 200-300 paid subscribers (2% conversion).

Growth

By the end of year one, he had 45,000 free and 3,300 paying subscribers, generating ~$360,000 ARR (~$30K MRR).

• Free subscribers at launch: 15,000
• Year one ARR: $360,000 (~$30K MRR)
• Current revenue: $2M+ annually (~$170K MRR)