What is Substack?
Substack is a innovative newsletter publishing platform launched in 2017 by Chris Best, Jairaj Sethi and Hamish McKenzie.
It allows content creators to produce, distribute, and monetize their work in one place.
The main objective of Substack is for writers, journalists, and creators to be able to have a direct relationship with their subscribers and make money with their work.
The platform stands out for its all-in-one approach to launching your next newsletter idea, with:
- An advanced text editor
- Podcast and video tool
- Secure payment system
- Customizable website
- Detailed analyses
Substack allows creators to offer free and paid content, leaving them in complete control of their business model.
Substack's business model is a 10% commission on paid subscription revenue, plus Stripe transaction fees. This aligns the interests of the platform with those of the creators, for mutual growth.
Since its launch, Substack has grown very quickly. In 2023, the platform saw 67% more creators than in 2022. Interesting to note that 11.99% of newsletters on Substack are about artificial intelligence, reflects current trends.
Substack is a great tool for content creators, offering them a unique platform to produce, broadcast, and monetize their work and stay connected to their audience.
Substack features
1. Newsletters
Substack's advanced text editor makes it easy to create engaging newsletters. A versatile tool, you can format your content accurately and add images, podcasts, and videos to your mailings.
The writing interface is minimalistic, so you can focus on the content without distraction. You can dive in without disturbance.
❤️ Critical Review : The editor is intuitive, but the absence of an AI support tool for content optimization may be missing for users who are used to these features on other platforms.
2. Web site hosting
Substack gives you a website dedicated to hosting your newsletters and content. This site is a showcase for your work and an additional access point for your readers.
You can strengthen your brand by using a custom domain. Your website, each article and your newsletters will have an address consistent with your image.
❤️ Critical Review : An integrated website is an advantage, but design customization options may be limited for those looking for a very specific aesthetic.
3. Subscriber Management
Substack makes it easy to acquire new subscribers with built-in registration forms. These forms are easily added to your Substack site and visitors can sign up in just a few clicks.
The platform offers basic audience segmentation tools. You can:
- Create groups of subscribers according to simple criteria
- Personalize your campaigns to target specific segments
- Analyze the engagement of different groups of subscribers
❤️ Critical Review : Subscriber management tools are functional, but advanced segmentation and automations are limited compared to some specialized platforms
4. Monetization features
Substack offers you several tools to monetize your content:
- Content trading: Use your newsletters, articles, and videos to promote and sell products or services.
- Boosts: Create visual galleries to highlight your offers in your subscription
- Email marketing: Launch targeted campaigns to promote your products or services.
You can also post positive customer reviews next to your newsletter, to strengthen the trust of potential buyers for your business in the eyes of the world.
❤️ Critical Review : Monetization tools are numerous, but it will depend on the size and engagement of your audience, as well as the relevance of your offers.
5. Referral program
Substack's built-in referral program encourages audience growth by encouraging your subscribers to share your newsletters.
You can personalize the rewards given to sponsors, creating motivation for referrals. This tool automatically manages the follow-up of sponsorships, you get rid of this administrative task.
❤️ Critical Review : The referral program is a great growth tool, but it will depend on the commitment of your subscribers and the attractiveness of rewards.
6. Paid subscription options
Paid subscriptions are the core of Substack's monetization model. You can convert your readers into paid subscribers by offering them exclusive, quality content.
Substack offers great pricing freedom, with monthly and annual subscription options, and even founding member packages with specific benefits.
Payments are managed by Stripe. Substack takes a 10% commission on your subscription revenue, plus Stripe transaction fees.
❤️ Critical Review : Monetization options are easy to set up and offer good freedom. But 10% can be important for some creators, especially those who are just starting out or have a small audience.
7. Integrations and platforms available
Substack tries to make its service accessible and integrable in different environments. Here is an overview of the integrations and platforms:
Mobile applications
Substack offers mobile apps for iOS and Android so your readers can read their favorite newsletters on the go.
These apps offer a smooth reading experience and notifications for new content.
- App Store (iOS): Minimalist interface, night mode, subscription sync
- Google Play Store (Android): Features similar to iOS
Web site
The Substack website is the core of the service, for creators and readers alike. It allows:
- To the creators: write, publish and manage their newsletters
- To readers: discover, subscribe and read newsletters
Third-party integrations
Substack offers several integrations for creators:
- Stripe : for payments
- Google Analytics : for traffic analyses
- Mailchimp : for importing existing subscriber lists
❤️ Critical Review : Substack offers a good base of integrations and platforms, but some advanced users may want more integration options, especially with marketing automation or CRM tools.
Substack Support
Substack offers several support channels for you:
- A knowledge base with articles and tutorials
- Email support at support@substack.com
- A ticket system for more complex problems
- Live chat for fast support
Premium plan users also have phone support for more personalized assistance.
Support is comprehensive, but response times can be long, especially for users on the free plan.
The Most Popular Creators on Substack and Revenue Estimates
Substack has become the platform of choice for many content creators (+ languages) to transform their expertise into substantial revenue.
Here are Substack's figureheads and their estimated earnings.
1. Heather Cox Richardson - Letters from an American
Heather Cox Richardson, a history professor at Boston College, managed to captivate her audience with her daily analyses of current American politics.
Her newsletter “Letters from an American” became a phenomenon on Substack.
- Theme : History and American politics
- Estimated earnings : Over 5 million dollars per year
Its success shows that the public is hungry for in-depth and contextualized analyses of current events.
2. Bari Weiss - The Free Press
A former New York Times columnist, Bari Weiss found a space on Substack to express her opinions without filters like other journalists. Its newsletter “The Free Press” (formerly “Common Sense”) covers all current topics.
- Theme : Journalism and opinions
- Estimated earnings : Approximately $800,000 per year
The success of Weiss shows the potential of Substack for journalists who want to get rid of classic editorial constraints in the United States (and elsewhere) but also of censorship.
3. Matt Taibbi - Racket News
Matt Taibbi, an investigative journalist, offers analysis on politics and the media in his “Racket News” newsletter.
- Theme : Politics and media
- Estimated earnings : Several hundred thousand dollars per year
Taibbi's success on Substack proves that the public is hungry for independent investigative journalism.
4. Alex Berenson - Unreported Truths
Alex Berenson, a former New York Times journalist, is known for his positions and content on the COVID-19 pandemic.
- Theme : Health and COVID-19
- Estimated earnings : Several hundred thousand dollars per year
Controversial or not, the success of Berenson shows that Substack can welcome dissenting voices.
5. Andrew Sullivan - The Weekly Dish
Writer and political commentator, this American creator offers a newsletter with analyses on culture and politics in “The Weekly Dish.”
- Theme : Culture and politics
- Estimated earnings : Several hundred thousand dollars per year
Sullivan shows how established writers can find a new audience on Substack.
Revenues generated
The numbers are huge:
- The 27 best newsletters make over 22 million dollars per year
- Some newsletters, like the one from Heather Cox Richardson, make over $5 million per year
It should be noted that Substack takes 10% of paid subscription revenue and Stripe transaction fees in addition.
These numbers are good, but they are the best. Most creators on Substack probably make a lot less. Success on the platform requires talent, but also a loyal audience and a solid content strategy.
FAQs
How do I import my existing subscriber list into Substack?
To import your list of subscribers, go to the Substack dashboard, click on “Subscribers”, then click on “Import a CSV file”. Follow the instructions to map your data and complete the import.
What are the pricing plans ?
Substack offers free and paid subscriptions. The platform takes 10% of revenue from paid subscriptions, plus Stripe transaction fees (2.9% + $0.30 per transaction).
How do I contact support?
You can contact Substack support by email at support@substack.com, by submitting a support ticket from the dashboard, or by using the live chat for an immediate response.
Conclusion
Substack is a leading newsletter that gives creators and brands the tools to reach and grow their audience.
Here is an objective summary of its strengths and weaknesses:
Benefits
- Nice user interface for reading information
- Integrated monetization (paid subscriptions)
- Advanced analytics and growth tools
- Generous free plan to get started with no upfront costs
- AI for content creation
- Multilingual
- Simple deployment of your business
Disadvantages
- 10% commission on each paid subscription
- Limited integrations with 3rd party solutions
- Limited customization of newsletter and website design
- Long-term customer support, especially for users of the free plan
- More expensive for large subscriber lists compared to some competitors
- Parameters SEO summaries for each online page
Substack is a newsletter tool, intended for content creators and small businesses that want to monetize their writing.
However, if you have specific needs in terms of customization or advanced integrations, you need to make sure that the platform meets your expectations.
Before you commit to launching your newsletter, get on the train of a complete solution like beehiiv that will give you much more communication and monetization tools.
