4 Things You Probably Didn't Know About Substack
4 Things You Probably Didn't Know About Substack
For instance, Elon Musk is open to acquiring the platform.
Substack’s business model is easy enough to understand:
“Start a newsletter. Build your community. Make money from subscriptions.”
It’s a powerful tool for marketers, creators as well as tech giants who want to get a piece of the (paid) newsletter business boom.
Here are 4 things you probably didn’t know about Substack
1 — Elon Musk is open to acquiring Substack
He tweeted that he could imagine buying Substack in the future.
He said he’s “open to the idea” of buying the newsletter platform.
He agreed with a user saying that Substack would give him “control” over the “narrative layer” of the web:
Twitter tried to acquire Substack at some point in 2020 but was rebuffed.
Back then, Substack’s co-founder Hamish McKenzie tweeted:
“this is not going to happen.”
That’s one of the reasons Twitter purchased the small Dutch newsletter startup Revue instead (which will be shut down in the mid of January 2023).
2 — Substack has more than 500,000 paying subscribers
In its first year, Substack already went from zero to 25,000 paying subscribers.
For 2022, it says it has millions of readers and more than 500,000 paying subscribers generating more than $9 million in revenue (there is a 10% commission fee charged for paid subscribers, no ads).
3 — Substack is on the rise
SimilarWeb data shows that Substack generated 44.4 million visits in November 2022 and is growing pretty fast.
4 — Substack demographics are worth taking a closer look
Apparently, Substack users are primarily male and between 25 and 44 years old.
Why am I telling you all this?
If you haven’t started your own newsletter on Substack, do it now!
The newsletter business is booming. More and more (Medium) writers are coming to Substack and if you’re writing on Medium you can link to your stories via your newsletter.
In fact, users who visit Substack also visit Twitter and…. Medium.
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Thanks for making my words part of your day and have a wonderful Fourth Advent weekend (it’s the last weekend before Christmas :D!)
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Happy Holidays Kristina! Much success to you in 2023!
There is one thing you can say about God: she is omnipresent. Popping into all my feeds. I am trying Substack because she said it was a good idea. Funnily, I adress God as “she” on Substack and as “you” on Medium, although we do not know each other. Medium feel like a networked community, whereas Substack feels more like vertical columns.
The idea that Musk would buy Substack (or indeed Medium) is a nightmare