Do you have dreams of turning your newsletter into a lucrative career? Substack might not be the best option for you. While Substack is an excellent platform for hobbyists due to its ease of use and free setup, it can become expensive when your goal is to monetize your newsletter. Instead of charging a fixed monthly fee, Substack takes a 10 percent cut of your revenue.
Let’s do some math. Imagine you have 500 subscribers paying $10 per month for your newsletter—that’s an impressive $5,000 per month in revenue. However, Substack will pocket $500 of that. Over a year, you’ll end up paying them $6,000. As your newsletter grows in popularity, this cost will only increase. It’s crucial to consider more cost-effective alternatives before sticking with Substack and potentially leaving money on the table.
Although it might be challenging to part ways with Substack, there are plenty of other affordable options worth exploring. These platforms offer competitive pricing and have attracted many former Substack publishers. Here are a few alternatives to consider, along with their costs and recommendations from those who have switched:
Ghost
Courtesy of Ghost
Consider Ghost, an open-source platform managed by a nonprofit organization. While you have the option to self-host Ghost, most users prefer paying for the service. Many former Substack publishers have successfully migrated to Ghost, and the platform even offers a free concierge service to assist with the transition.