![]() Writers charge around $5 a month (£3.66) or $50 a year for access to their newsletters, although the platform’s many free newsletters also have a big following. Substack takes 10% of subscription earnings and payment company Stripe takes a further 3% with writers taking the rest. Certainly Substack’s most popular writers make vast sums from the platform, with its top 10 publishers bringing in $7m (£5.1m) per year between them. ![]() One of the platform’s backers is venture capital firm Andreessen Horowitz, whose previous investments include Facebook, Twitter and Airbnb.īest, Substack’s chief executive, said the aim of the site was to “allow writers and creators to run their own media empire”. ![]() Substack was launched by Chris Best, who had previously launched Kik, a messaging app that he described as “kind of like WhatsApp”, Best’s former Kik colleague Jairaj Sethi and journalist Hamish McKenzie. Also, there is no pressure to grab the attention of Google or Facebook algorithms or get big reader numbers, a feature of modern journalism that has helped strain the bond of trust between the public and the press. ![]() The San Francisco-based company has more than 500,000 paying subscribers to its newsletters, published by an array of writers from whistleblower Edward Snowden to rock musician Jeff Tweedy and salad aficionado Emily Nunn. That was 2017 and the trends identified in that post are well embedded in modern culture, but Substack’s subsequent popularity has made clear that there is at least strong appetite for any antidote. ![]()
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