… (+) Many writers are finding ways to make money with Substack because it offers multiple options such as subscription fees and bonus benefits.
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Newsletter publishing platform Substack is quickly becoming a powerful destination for writers, journalists, and creators looking to monetize their content. Creators can share articles, insights, and personal stories directly with their audience, and readers can subscribe (on a free or paid basis) to access the content. Many writers find ways to make money with Substack because it offers multiple options such as subscription fees and bonus benefits. You can continue to grow the Substack platform, so it’s really up to you how much money you make on the platform.
What is Substack?
Substack is a subscription-based platform that allows writers, journalists, and content creators (and everyone in between) to publish newsletters directly to their audience. Founded in 2017, the service began with the goal of helping writers monetize their work independently and offering a way to bypass traditional media gatekeepers.
Today, writers use Substack to share everything from news articles and essays to opinion pieces and expertise. Readers can subscribe to free or paid newsletters, allowing creators to build a direct relationship with their audience and generate income through subscription fees.
How does Substack work?
Substack allows writers to publish their original content directly to subscribers through paid or free newsletters. For these writers, Substack sets up the process for starting a subscription-based newsletter and provides tools to publish posts, manage subscribers, and create paid subscriptions. There is also an option for writers to decide to share free content as well, so readers can choose to pay for exclusive content if they enjoyed what they saw for free.
Readers can use Substack to see exclusive content from their favorite creators. If a paid newsletter option is offered, you can subscribe to newsletters on any topic you like, with the option to support the author financially. When readers subscribe to your newsletter, your content will be delivered directly to their inbox.
How do I make money with Substack?
The creators of Substack primarily make money through paid subscriptions to readers. This option is available for writers to create both paid and free content for their readers, so many writers use some to get their subscribers even more excited about paying for exclusive content. We offer free content. Earning potential varies, considering writers can choose the price of their subscription and earn a portion of it.
Publishing on Substack is free, but the platform charges a 10% fee if you offer a paid subscription. Plus 2.9% + 30 cents per payment, or 0.5% for recurring payments charged by Stripe. Creators also have the option to increase their revenue by offering tiered subscriptions at different price levels in conjunction with different offers and content. With commitment and a strong content strategy, Substack can become a sustainable revenue source.
1. Paid newsletter
The most obvious option for making money with Substack is to offer paid newsletter slots. Readers can choose to pay a monthly or yearly fee to access the content you gate. It’s easy to get started. Set up your Substack account, choose the paid subscription option that works best for you and your audience, and decide what content is free and what is considered “exclusive” to paid subscribers.
To earn a steady income from your paid newsletter, you need to frequently publish great content that will make your readers want to keep paying for more. The amount of time required may vary depending on your ability to conceive and execute your content. Some creators decide to share content multiple times a week, while others expand to weekly, biweekly, or monthly. The platform itself is free to use, but Substack pays a 10% fee for every membership fee paid.
2. Sponsorship and Advertising
Many Substack creators make money through paid sponsorships and ads within their newsletters. Substack is a platform built without ads, but creators can place their own ads on their content if they wish. This model allows you to feature sponsored content within your newsletter, such as product reviews or brand promotions. To get started, it’s imperative to have a clear understanding of your loyal subscriber base and audience demographics to attract brands interested in sponsorship.
What takes real effort and networking is finding potential advertising partners who find your audience valuable enough to pay enough to access them through sponsorships and advertising. Once a partnership is established, some creators will have more freedom in reaching out to new potential advertisers. The revenue potential for this option is high, especially if you can secure sponsors willing to pay a premium for access to a well-defined active audience.
3. Affiliate links
By using affiliate links in your Substack content, you can earn commissions by recommending products and services to your readers. Every time a reader makes a purchase through an affiliate link, we earn a small percentage of the sale. First, join affiliate programs related to your newsletter topics, such as Amazon Associates or ShareASale, and incorporate these links naturally into your content to provide value to your audience.
Incorporating affiliate links requires minimal effort once the link is set up, but you need to make sure your recommendations are relevant and genuinely helpful to maintain reader trust . To earn recurring income, creators must continue to share useful recommendations in their newsletters. Revenue is determined by both audience size and the type of products recommended, and commissions can range from a few cents to a few dollars per sale.
4. Digital or physical products
Selling digital or physical products through Substack is a flexible way to earn additional income depending on the price of your products. Digital products may include e-books, templates, and courses, while physical products may include branded merchandise and books. Start by developing a product idea that fits your niche and create a landing page or list within your newsletter to promote it to your subscribers.
This approach requires an upfront investment of time and resources, especially in creating digital content and designing physical products. Although it may take more time to see a return on investment, this model has great profit potential. It’s important that creators select this option with the understanding that they will need to talk about their products frequently in order to continue selling their products. While digital products have lower overhead costs, allowing creators to secure more profits, physical products can generate significant revenue, especially if they resonate with a loyal fan base.
Is Substack worth it?
For writers, journalists, and creators looking to monetize their content, Substack is a great platform to do so. This platform can be especially lucrative for creators with a following or who are willing to invest time and energy to build a following. The more you build your subscriber base, the greater your earning potential. The big appeal of Substack is that it’s incredibly easy to use and anyone can start making money for free.
Substack includes a streamlined setup process, full ownership of subscriber data, and multiple income options such as paid subscriptions and sponsorships. However, there are potential drawbacks, such as a 10% fee on subscription revenue and the need for consistent content to retain paying subscribers. For writers who enjoy captivating an audience and building a personal brand, Substack is a great choice, especially if you value text content like X (Twitter) rather than the images and videos that other platforms like Snapchat require .
conclusion
Substack provides easy access and flexible ways for anyone to monetize their work through paid subscriptions, sponsorships, and more. For those who are ready to invest time in building an audience and continuously providing value, this can be a profitable platform. However, success requires dedication and a strong connection with your readers.
Frequently asked questions (FAQ)
Starting a newsletter on Substack is free. Anyone can create an account and start publishing newsletters with no upfront costs. Readers can access many newsletters for free, but some content is only available to paid subscribers.
However, if a writer decides to monetize their content through a paid subscription, Substack takes a 10% fee from that revenue and payment processing fees are applied.
What are the alternatives to Substack?
Popular Substack alternatives are Patreon, Ghost, Medium, and Beehiiv. Each platform has its pros and cons, and writers looking for simplicity might prefer Substack or Medium, while those who value customization might prefer Ghost.
Patreon doesn’t just focus on text content. Ghost requires hosting fees and setup knowledge. Medium offers a large built-in audience, making it an attractive option for writers looking for more visibility, but it lacks direct subscription functionality and control over audience data. Finally, Beehiiv was created specifically for newsletters, but also includes pricing for premium features.
How do I start Substack?
Starting a Substack newsletter is very easy. First, sign up for Announcements and create a profile that includes your name, bio, and photo. Then, create a title and tagline for your newsletter to help readers understand the type of content you’ll be delivering.
Next, customize your profile settings, including choosing a URL and deciding whether to offer a free, paid, or hybrid subscription. If you plan to offer paid content, you’ll also need to connect to your bank account or Stripe to process subscriber payments. Once you’ve set these basics, you’re ready to start publishing and connecting with your audience.
How do I post on Substack?
It’s as easy as drafting an email. First, create a new post from your Substack dashboard. Customize your emails with formatting options like headers, bold and italic text, upload images, embed links, and more to achieve a customized and professional layout.
To create an engaging newsletter that keeps your readers coming back, you need to create a compelling headline and make your newsletter easy to understand for your readers. When you’re done, click “Publish” and your post will be sent directly to your readers’ inboxes.
