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What's the most frustrating part of monetizing a newsletter?

If you run a newsletter even a small one I'd love to hear: what's been the most frustrating part of trying to monetize it?

I keep hearing the same few things from creators: ad networks that require 2,500+ subscribers before you can even apply, sponsorship deals that take weeks of back-and-forth for a single send, or "programmatic" options that don't actually work well in email because they're really just web ad tech wearing an email costume.

Curious whether that matches what others have run into or if there's a different pain point I'm missing entirely. Building something in this space (MailAdx) and want to make sure I'm solving the real problem, not just the one I assumed existed.

MailAdx - Real-time bidding for newsletter ad inventory

Most newsletter ad networks were built for display web, then awkwardly retrofitted for email. MailAdx is built from the ground up for newsletters — no cookies, no tracking pixels that break in inboxes, just real-time bidding (RTB) that matches your sends with relevant advertisers automatically. If you run a newsletter, MailAdx plugs into your existing send flow, auto-inserts ad placements, and lets demand bid for your inventory in real time — so you earn more per send without chasing sponsors.