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Substack Review 2026

Newsletter platform — writers keep 90%, free to start

4.2

HomeBusinessWatch Rating

Last updated: March 20, 2026

What is Substack?

Newsletter and content subscription platform. Writers publish free and paid newsletters, keeping 90% of subscription revenue (Substack takes 10%). Top publications earn millions annually. Free to start — no cost until you monetize.

Pros

  • Free to start — no fees until you charge subscribers
  • Writers keep 90% of subscription revenue
  • Simple, distraction-free writing interface
  • Built-in audience discovery via Substack recommendations
  • Own your subscriber list — can export anytime
  • Growing ecosystem with 35M+ active subscriptions

Cons

  • 10% fee is higher than alternatives (Beehiiv, Ghost)
  • Discoverability limited — requires own audience building
  • No advanced email automation or segmentation
  • Substack can potentially change terms — platform risk
  • Better for writers; less suited for heavy HTML email designs

Rating Breakdown

Residual Income
4.0

Potential for ongoing passive income

Simplicity
4.5

Easy to understand and execute

Transparency
4.5

Clear about costs, requirements, and income

Community & Support
4.0

Quality of training and community

Value for Money
4.5

Worth the investment

Overall Rating
4.2

Frequently Asked Questions About Substack

How much can you earn on Substack?
Top Substack writers earn millions per year. A writer with 10,000 paid subscribers at $10/month earns ~$108,000/year after Substack's 10% fee. Even 500 paid subscribers at $8/month generates ~$43,200/year — a meaningful income stream.
Is Substack free?
Yes. Substack is completely free to use for free newsletters. Substack only takes 10% when you charge paid subscribers. There are no monthly platform fees.
Substack vs Beehiiv — which is better?
Beehiiv charges a monthly platform fee ($42+/month) but takes 0% of revenue. Substack is free but takes 10%. Beehiiv breaks even over Substack at ~$420/month in subscriber revenue. Beehiiv also has better analytics and monetization features for serious newsletter businesses.