Substack hits one million paid subscribers
The Future. Now more than ever, creators want the freedom to create what they want, and Substack helps writers do exactly that — even Big Tech platforms like Twitter and Facebook are hopping on the newsletter train. With over a million paid subscribers behind it, Substack is well-positioned to revolutionize the media landscape with its direct-to-reader journalism.
This week, the newsletter startup officially reached one million paid subscribers.
- The independent newsletter platform is growing at breakneck speed, quadrupling its numbers of paid subscribers by 250,000 from December 2020.
- That’s adding up to some serious cash. Together, Substack’s top ten writers make a collective $20 million in revenue a year.
- But notably, Substack itself isn’t profitable yet, even though it takes a 10% revenue cut from paid subscriptions.
Since its inception in 2017, Substack has lured high-profile writers, journalists, and even comic writers away from media powerhouses like The New York Times and Marvel. It’s positioned itself as the high-brow antithesis of clickbait, promising instead… a wealth of intimate and thoughtful content.
On the writer’s side, Substack offers editorial freedom. Creators are empowered (they manage their own subscriber lists and even their payment accounts), giving them far greater control over their audience and a direct business relationship with their readers.