Healthy permissioned email programmes typically earn 0.05 to 0.25 GBP in revenue per email sent (RPE) and 5 to 50 GBP per subscriber per year (RPS), depending heavily on monetisation model, audience intent and deliverability. These are estimates from operator experience, not guarantees, and well-run programmes routinely beat them while badly-run ones fall well short.
How to read these numbers
Benchmarks are useful as sanity checks and as a way to set expectations for new programmes. They are not targets. The right target for any list is set by its own baseline, the offers it carries and the seasonality of its audience. Everything below is framed as a typical range from operator experience, not as a guarantee.
Revenue per email (RPE)
Revenue per email sent, across the whole audience targeted by a send.
- Own offers, consumer: 0.10 to 0.30 GBP RPE typical, higher on hero launches.
- Affiliate, consumer: 0.05 to 0.20 GBP RPE typical; high-intent verticals exceed this.
- Sponsorships, newsletter: 0.02 to 0.10 GBP RPE typical, very stable across sends.
- Lead generation, matched audience: 0.20 to 0.80 GBP RPE typical at the top end.
Revenue per subscriber per year (RPS)
Total annual revenue attributable to email, divided by the average active subscriber count.
- Broad consumer newsletters: 5 to 15 GBP RPS typical.
- Operator-monetised consumer lists with a mixed model: 15 to 40 GBP RPS typical.
- High-intent buyer or finance lists: 40 to 100+ GBP RPS, sometimes much higher.
- B2B opted-in lead gen: usually measured per lead rather than per subscriber, but RPS can be very high on small lists.
What moves the numbers
- Deliverable rate. The single biggest multiplier. 95% to 70% deliverable cuts revenue by roughly a quarter.
- Engagement. Open and click rates drive how many people reach the offer.
- Offer fit. The same list pays very differently to different categories of advertiser.
- Frequency. Up to a point more sends earn more; past it, RPE collapses and reputation slips.
- Seasonality. Many verticals double or halve in predictable cycles.
Using benchmarks well
Run your numbers through the Email list revenue calculator and compare to the ranges above. If you are well below, the gap is almost always deliverability, list hygiene or offer fit. If you are well above, write down what is working and protect it.
Frequently asked questions
What is a good revenue per email?
For most healthy permissioned consumer programmes, 0.05 to 0.25 GBP RPE is normal. Lead-gen and high-intent finance audiences can sit several times higher.
Are these benchmarks net or gross revenue?
Gross attributed revenue from email, before product cost, affiliate payouts to partners and ESP or platform fees. Net margin depends heavily on which model the revenue came from.
Should I aim to beat the benchmarks?
Aim to beat your own baseline first. Benchmarks tell you whether there is room; your baseline tells you what is realistic to chase next quarter.