diff --git a/app/controllers/admin/emails_download_controller.rb b/app/controllers/admin/emails_download_controller.rb
index 326c32ff1..179240358 100644
--- a/app/controllers/admin/emails_download_controller.rb
+++ b/app/controllers/admin/emails_download_controller.rb
@@ -13,6 +13,6 @@ class Admin::EmailsDownloadController < Admin::BaseController
   private
 
   def users_segment_emails_csv(users_segment)
-    UserSegments.send(users_segment).pluck(:email).to_csv
+    UserSegments.send(users_segment).newsletter.pluck(:email).to_csv
   end
 end
diff --git a/app/models/newsletter.rb b/app/models/newsletter.rb
index 0b7bc4481..beaa59495 100644
--- a/app/models/newsletter.rb
+++ b/app/models/newsletter.rb
@@ -14,7 +14,7 @@ class Newsletter < ActiveRecord::Base
   validates_format_of :from, :with => /@/
 
   def list_of_recipients
-    UserSegments.send(segment_recipient)
+    UserSegments.send(segment_recipient).newsletter
   end
 
   def draft?
diff --git a/lib/user_segments.rb b/lib/user_segments.rb
index 02fbe9b5f..8a50f6d31 100644
--- a/lib/user_segments.rb
+++ b/lib/user_segments.rb
@@ -7,7 +7,7 @@ class UserSegments
                 winner_investment_authors)
 
   def self.all_users
-    User.newsletter.active
+    User.active
   end
 
   def self.proposal_authors
diff --git a/spec/lib/user_segments_spec.rb b/spec/lib/user_segments_spec.rb
index 77dff6a27..3914c11bf 100644
--- a/spec/lib/user_segments_spec.rb
+++ b/spec/lib/user_segments_spec.rb
@@ -6,15 +6,11 @@ describe UserSegments do
   let(:user3) { create(:user) }
 
   describe "#all_users" do
-    it "returns all active users with newsletter enabled" do
-      active_user1 = create(:user, newsletter: true)
-      active_user2 = create(:user, newsletter: true)
-      active_user3 = create(:user, newsletter: false)
+    it "returns all active users enabled" do
+      active_user = create(:user)
       erased_user  = create(:user, erased_at: Time.current)
 
-      expect(described_class.all_users).to include active_user1
-      expect(described_class.all_users).to include active_user2
-      expect(described_class.all_users).not_to include active_user3
+      expect(described_class.all_users).to include active_user
       expect(described_class.all_users).not_to include erased_user
     end
   end
diff --git a/spec/models/newsletter_spec.rb b/spec/models/newsletter_spec.rb
index 09d66055d..6ab83ffcd 100644
--- a/spec/models/newsletter_spec.rb
+++ b/spec/models/newsletter_spec.rb
@@ -17,6 +17,11 @@ describe Newsletter do
     expect(newsletter).not_to be_valid
   end
 
+  it 'is not valid with an inexistent user segment for segment_recipient' do
+    newsletter.segment_recipient = 'invalid_user_segment_name'
+    expect(newsletter).not_to be_valid
+  end
+
   it 'is not valid without a from' do
     newsletter.from = nil
     expect(newsletter).not_to be_valid
@@ -31,4 +36,17 @@ describe Newsletter do
     newsletter.from = "this_is_not_an_email"
     expect(newsletter).not_to be_valid
   end
+
+  describe '#list_of_recipients' do
+    before do
+      create(:user, newsletter: true, username: 'newsletter_user')
+      create(:user, newsletter: false)
+      newsletter.update(segment_recipient: 'all_users')
+    end
+
+    it 'returns list of recipients excluding users with disabled newsletter' do
+      expect(newsletter.list_of_recipients.count).to eq(1)
+      expect(newsletter.list_of_recipients.first.username).to eq('newsletter_user')
+    end
+  end
 end