In recent years, Substack has made waves in the world of digital publishing, offering a platform where writers, journalists, and thought leaders can connect directly with their readers. As more creators migrate to this platform, it begs the question: Is Substack a worthy investment for both writers and readers?
With an audience like Medium’s—curious, thoughtful, and discerning—it’s important to peel back the layers and examine what Substack truly offers.
Let’s break down the platform’s core features, benefits, and potential drawbacks to see if it lives up to the buzz.
What is Substack, and How Does It Work?
Substack is a newsletter publishing platform where writers can share content directly with their subscribers. It offers a way to build, publish, and monetize a newsletter without needing a website or email marketing tools.
At its heart, Substack provides a streamlined experience for writers looking to connect with readers without the hassle of traditional publishing models.
Here’s the basic structure:
- Creating an Account: Writers set up their profile, customize the newsletter, and start publishing.
- Subscription Options: Creators can offer their content for free or set a monthly or yearly subscription fee. For paid subscriptions, Substack takes a 10% cut.
- Building Relationships: The platform fosters direct interaction between writers and readers, allowing for more personal connections without middlemen.
The simplicity of Substack is one of its main draws. There are no complicated setups or technical hurdles, making it an accessible option for a broad spectrum of creators.
What Substack Brings to Writers
Substack’s appeal for writers is clear—it’s designed to help creators focus on writing, while the platform manages the rest. Whether you’re an established journalist or a newcomer, here’s what Substack offers:
Direct Monetization
Unlike many content platforms that rely on ads or affiliate programs, Substack allows writers to get paid directly by their readers.
This setup removes the need to chase advertising revenue, freeing writers to prioritize quality over clickbait. This model suits creators who wish to engage deeply with their audience, without diluting their work to please advertisers.
Creative Freedom
For writers who’ve grown tired of traditional editorial constraints, Substack offers a refreshing level of independence.
You control what you write, how you write it, and when you publish it. The absence of editorial gatekeepers means more room for niche content that may not fit into mainstream publishing outlets.
It’s particularly appealing for those who want to experiment or speak on topics that might otherwise be considered too fringe or controversial.
Ease of Use
Substack’s interface is designed for simplicity. You don’t need a background in web development or content management systems to start a newsletter.
With Substack, all you need to worry about is writing and hitting “publish.” Analytics and subscription management are built into the platform, offering clear data on who’s reading your content and how much revenue you’re generating.
Potential for Significant Earnings
Some writers on Substack have achieved significant financial success, especially those who bring an existing audience with them.
High-profile journalists have made headlines by pulling in six or even seven figures through paid subscriptions. However, it’s important to recognize that these stories are the exception rather than the rule. The average writer on Substack will need to work diligently to grow their subscriber base, and building a reliable income stream can take time.
What Substack Brings to Readers
From a reader’s perspective, Substack offers an array of benefits, particularly for those seeking high-quality, niche content. Here’s what makes it appealing:
Supporting Creators Directly
One of the most attractive features for readers is the opportunity to support creators they admire. Instead of funneling money through advertisers or third-party platforms, subscribers pay directly for the content they want to see. This establishes a more intimate connection between writers and readers, one built on shared interests rather than ad revenue.
An Uninterrupted Reading Experience
Many Substack newsletters are ad-free, providing readers with a clean and focused space for consuming content. There’s no bombardment of distracting ads, autoplaying videos, or pop-ups—just the writing itself.
Exclusive Content
Many creators on Substack offer exclusive perks for paying subscribers. This might include premium articles, early access to content, or other special rewards. For readers, it provides a sense of access to unique and personal insights that aren’t available elsewhere.
Challenges for Writers on Substack
While Substack offers an attractive model, it’s not without its challenges—especially for writers aiming to build a career from their newsletters.
Highly Competitive
As Substack grows in popularity, so does the competition. The platform is now home to thousands of writers, from hobbyists to professionals, which means standing out is increasingly difficult. Writers with pre-established audiences—journalists, authors, or influencers—have a leg up in attracting paid subscribers. For new writers, the challenge is even greater. Building a dedicated subscriber base requires not only good content but effective marketing and community-building skills.
Limited Discoverability
Unlike a blog or personal website, Substack newsletters don’t benefit from search engine optimization (SEO). Writers can’t rely on Google searches to bring in new readers, meaning growth largely depends on word of mouth, social media, or pre-existing networks. This can make it harder for lesser-known writers to gain traction compared to those on more SEO-friendly platforms.
Revenue Share
Substack takes 10% of any paid subscriptions, which doesn’t seem like much at first glance. However, for writers with smaller subscriber bases, this cut can feel substantial, especially when combined with the fees charged by payment processors. The revenue share becomes a more significant consideration as writers work to turn a profit.
Risk of Platform Dependency
Relying on any platform for your livelihood comes with risks. While Substack has grown rapidly, its future isn’t guaranteed. If the platform’s policies change or its popularity wanes, creators who rely solely on Substack could face sudden disruptions to their income. Writers may want to consider building a presence on multiple platforms to safeguard their work and audience.
Challenges for Readers
Substack’s value proposition for readers depends largely on their relationship with individual creators.
While many newsletters are free, some readers may question whether paying for additional content is truly worth the expense, especially with the wealth of free information available online.
Additionally, as more writers transition to paid models, readers who subscribe to multiple newsletters may find the costs piling up. For those on a tight budget, prioritizing which writers to support becomes a necessary consideration.
Alternative Platforms to Substack
Before jumping on Substack, it’s worth considering some alternatives that may suit different needs:
- Patreon: Although it primarily serves creators across different mediums (artists, podcasters, etc.), Patreon offers writers similar subscription models with more flexible tier options.
- Ghost: An open-source alternative to Substack, Ghost offers more control over your newsletter and monetization but requires more technical setup.
- Medium: Medium provides a broader reach and a built-in audience, with the option to monetize through the Medium Partner Program, where writers are paid based on reader engagement rather than direct subscriptions.
Final Thoughts
Substack is an exciting platform for writers looking for independence and readers seeking unique content, but it’s not without its challenges.
Writers need to be prepared to put in the work to build and maintain a subscriber base. For readers, the platform provides a direct way to support independent creators, but the growing number of paid newsletters may lead to subscription fatigue over time.
In Summary: Substack offers a valuable service, but success on the platform requires careful consideration. Writers and readers alike should weigh the benefits and limitations, ensuring it aligns with their long-term goals before committing fully.