Newsletter publishing platform Substack has quickly gained traction as a powerful place for writers, journalists and creators looking to monetize their content. Creators can share articles, insights and personal stories directly with their audience, and readers subscribe (on a free or paid basis) to access content. Many writers find ways to make money on Substack, given they offer multiple options such as subscription fees and bonus perks. How much money you make on the platform is truly up to you as you can continue to grow your Substack platform continuously.
What Is Substack?
Substack is a subscription-based platform that allows writers, journalists, content creators (and everyone in between) to publish newsletters to their audience directly. Founded in 2017, it started by aiming to help writers monetize their work independently, offering a way to bypass traditional media gatekeepers.
Today, writers use Substack to share everything from news articles and essays to opinion pieces and niche 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?
On Substack, a writer can publish their own original content directly to their subscribers through a paid or free newsletter. For these writers, Substack sets up the process of getting their subscription-based newsletter started, offering tools to publish posts, manage subscribers and create a paid subscription. There is also the option for a writer to decide to share free content as well, so readers can choose to pay for the exclusive content if they enjoy what they see for free.
For readers, Substack allows them to view exclusive content from their favorite creators. They can subscribe to newsletters on topics that they enjoy, with the option to support the creator financially if a paid newsletter option is offered. If a reader subscribes to a newsletter, they will get that content delivered directly to their inbox.
How Do You Make Money With Substack?
Substack creators make money primarily through paid subscriptions to their readers. The option is available for writers to create both paid content and free content for their readers, so many writers offer some free content to get subscribers more excited to pay for the exclusive content. Earning potential can vary, considering the writer can choose the price of the subscription and earn a percentage of that.
While publishing on Substack is free, if you offer a paid subscription, the platform charges a 10% commission fee, plus another 2.9% + 30 cents per payment and 0.5% for recurring payments charged by Stripe. Creators also have the option to enhance their earnings by offering tiered subscriptions with different levels of price that coordinate with different offers and content. With commitment and a strong content strategy, Substack can be a sustainable revenue source.
1. Paid Newsletter
The most obvious choice for making money on Substack is to offer a paid tier of your newsletter. Readers can choose to pay a monthly or annual fee to access the content that you’ve gated. To get started, it’s simple. Set up your Substack account, choose the paid subscription option that best fits you and your audience, and then decide what content will be free and what will be considered “exclusive” to your paid subscribers.
To make consistent income from your paid newsletter, you need to show up often with great content that readers want to continue paying more. Depending on your ability to ideate and execute content, the required time commitment may vary. Some creators decide to share content multiple times a week, while others may stretch it to weekly, biweekly or monthly. The platform itself is free for you to use, though there is a required 10% commission paid to Substack on each membership fee paid to you.
2. Sponsorships And Advertisements
Many Substack creators also monetize through paid sponsorships and advertisements in their newsletters. While Substack is a platform built to be ad-free, creators can place their own ads in their content if they choose. In this model, you can feature sponsored content, such as product reviews or brand shout-outs, within your newsletter. To get started, it’s mandatory to have an engaged subscriber base and a clear understanding of your audience demographics to attract brands interested in sponsorships.
The part that takes some real effort and networking is finding potential advertising partners who see the value in your audience enough to pay you to access it via a sponsorship or ad. Once partnerships are established, some creators can be more hands-off in their outreach to new potential advertisers. The earning potential with this option is high, especially if you secure sponsors willing to pay premium rates for access to a well-defined and active audience.
3. Affiliate Links
Using affiliate links in your Substack content allows you to earn a commission for recommending products or services to your readers. Each time a reader makes a purchase through your affiliate link, you earn a small percentage of the sale. To start, join affiliate programs related to your newsletter’s topic, such as Amazon Associates or ShareASale, and incorporate these links naturally into your content where they offer value to your audience.
Incorporating affiliate links requires minimal effort once the links are set up, but you’ll need to ensure that recommendations are relevant and genuinely useful to maintain reader trust. For ongoing income, creators should continue sharing useful recommendations in their newsletters. Earnings depend on both audience size and the type of products recommended, with commissions ranging from a few cents to several 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 might include e-books, templates or courses, while physical products could be branded merchandise or a book. To get started, develop a product idea that aligns with your niche, and create a landing page or listing within your newsletter to promote it to your subscribers.
This approach requires an upfront investment of time and resources, especially for creating digital content or designing physical merchandise. While it may take longer to see a return on investment, this model has significant earning potential. It’s important that creators go into this option understanding that they are going to have to talk about their products frequently to continue to sell them consistently. Digital products have low overhead costs, allowing creators to retain more profit, while physical products can generate substantial revenue, especially if they resonate well with a dedicated fan base.
Is Substack Worth It?
For writers, journalists, and creators looking to monetize their content, Substack can be a great platform to do so. The platform can become especially lucrative for creators with a following or are prepared to invest the time and energy it takes to build one. The more of a subscriber base that you build, the more your earning potential is. The big appeal of Substack is that it’s incredibly simple to use and is accessible for anyone to start making money with — free of cost.
Substack includes a streamlined setup process, full ownership of subscriber data, and multiple income options like paid subscriptions and sponsorships. However, there are potential drawbacks, such as a 10% fee on subscription revenue and a need for consistent content to retain paying subscribers. For writers who thrive on engaging their audience and enjoy building a personal brand, Substack can be a great fit—especially if you value text content like X (Twitter) vs. images or videos that other platforms like Snapchat demand.
Bottom Line
Substack offers an easily accessible and flexible way for anyone to monetize their work through paid subscriptions, sponsorships and more. For those ready to invest time in building an audience and consistently delivering value, it can be a profitable platform. However, success requires dedication and a strong connection with your readers.
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