Substack
Newsletter publishing and monetization in one place
What it is
Substack is a publishing platform where writers host email newsletters and charge subscribers a recurring fee. Independent journalists, essayists, and niche experts use it to build direct audiences without relying on ad revenue. The platform handles payments, delivery, and a basic website automatically. Substack takes a 10% cut of paid subscription revenue on top of stripe fees, which becomes a real cost as an audience grows.
Key features
- ●Recurring paid subscriptions with Stripe payment processing
- ●Free and paid tier management within one publication
- ●Built-in web archive that doubles as a public blog
- ●Podcast hosting with RSS feed generation
- ●Subscriber referral and recommendations system
- ●Comment threads visible to paid subscribers or all readers
- ●Email list export in CSV format
Pros and cons
Pros
- +Free to start with no upfront cost
- +Built-in payment processing removes the need for a separate tool
- +Readers can comment and respond, creating light community features
- +Podcast and video posts are supported alongside written content
- +Writers own their subscriber list and can export it anytime
- +Network effects from Substack Recommendations can surface new publications
Cons
- –10% revenue share is expensive at scale compared to self-hosted alternatives
- –Design and layout customization is limited
- –Analytics are basic and offer little audience insight beyond open rates
- –No native A/B testing for subject lines or send times
- –Discoverability within the platform is uneven and hard to predict
- –Monetization is subscription-only, no native one-time purchase or tip option
Who it's for
- ●Independent journalists monetizing reporting without a publication
- ●Writers moving an existing audience off a legacy email service
- ●Niche experts building a paid community around a specific topic
- ●Podcasters who also want a written companion newsletter
- ●Creators testing whether an audience will pay before building a full product
Categories
Frequently asked questions
How does Substack make money if it's free to start?
Substack takes a 10% cut of paid subscription revenue you earn, plus Stripe adds roughly 2.9% plus 30 cents per transaction. If you never charge readers, Substack costs you nothing.
What does Substack's free tier actually include?
The free tier gives you unlimited posts, a subscriber list, a public archive, and basic email delivery to any number of free subscribers. Paywalled posts and paid tiers only activate once you turn on payments.
Who is Substack a good fit for?
It suits writers, journalists, and solo creators who want to monetize a newsletter without managing a separate website, payment processor, or email platform. It works less well for teams that need granular user permissions or heavy editorial workflows.
What is an honest limitation of Substack?
You do not own your subscriber relationship in a portable way out of the box: you can export email addresses, but moving paid subscribers to another platform mid-subscription is messy and risks churn. The 10% revenue cut also compounds quickly once you scale past a few thousand dollars a month.
How does Substack compare to Ghost or Beehiiv?
Ghost charges a flat monthly fee starting around $9 and gives you more design control and no revenue cut, making it cheaper at higher revenue levels. Beehiiv has a free plan and focuses on growth tools like referral programs and ad network access, whereas Substack's discovery network is its main growth lever.
Can Substack host video and audio, or is it text-only?
Substack supports native podcast hosting, video embeds, and a chat feature alongside written posts. Audio files upload directly, so podcasters can use it as a combined newsletter and podcast RSS feed without a separate host.