For a stretch of about eight years, roughly 2010 to 2018, the confident position on email was that it was over. Social media had won. Nobody read newsletters anymore. Marketing dollars belonged on Facebook, on Twitter, on Instagram, on whatever channel had the most attention. The email newsletter, when it was mentioned at all, was mentioned in the way we mention fax machines — a relic that some industries still used out of inertia.
And then, quietly, that changed. By 2020 the sentence "I have a newsletter" was cool again. By 2022 it was a small industry. By 2024, running a newsletter — not a blog, not a podcast, not a Substack, a newsletter — was one of the most credible things a writer, a founder, or an operator could do with their audience. What happened?
It was not really Substack
The lazy answer is that Substack happened, and Substack made newsletters cool again. This is not quite wrong, but it puts the effect before the cause. Substack was founded in 2017 into a world that was already, quietly, hungry for newsletter tools that treated writing as the point. If the underlying appetite had not been there, Substack would have been a footnote.
The underlying appetite is what is actually interesting. Somewhere around the middle of the 2010s, a growing number of readers started to feel that the algorithmic feed was eating their attention rather than serving it. Facebook stopped showing them the accounts they had explicitly followed. Twitter reshuffled every timeline into a personalised assortment nobody had asked for. Instagram put ads between every friend post. The channels that were supposed to connect readers to writers had turned into machines that decided, on your behalf, what you would see and when.
Email was the only channel that had not done this. If you subscribed to a newsletter, that newsletter arrived in your inbox on the day the writer sent it, in the order they sent it, without a machine second-guessing whether you actually wanted it. This sounds trivial. In 2016 it was starting to feel radical.
The channel where you own the relationship
The real reason the newsletter came back is that it is the last mass channel where the writer owns the relationship with the reader. Not the platform. Not the algorithm. The writer. If a newsletter writer wants to leave Substack tomorrow and take their subscribers to Ghost or to Beehiiv or to their own hand-coded thing, they can. The subscribers are real email addresses. They belong to the writer.