How much does Substack take?
Substack charges a flat 10% platform fee on all paid subscription revenue, plus Stripe payment processing of approximately 2.9% + $0.30 per transaction. The combined effective take rate is roughly 13% of revenue. On $1,000/month in paid subscriptions, a writer keeps approximately $870–880 after both cuts. Substack charges nothing for free newsletters.
Last verified May 2026 · feebite Editorial · Not affiliated with Substack
Independent fee analysis for Substack. For the official platform, go to substack.com. This page breaks down the true cost of paid subscriptions so writers can model their real income.
Quick Verdict
Rating: 4.3/5 — ★★★★☆
Best for: Writers, journalists, and commentators building a paid readership from scratch — Substack's discovery network and reader trust make it the best platform to go from 0 to first 100 paying subscribers.
Not ideal for: High-volume paid newsletters where 10% becomes meaningful (Ghost is cheaper above ~$200/month); or creators who need integrated course or community tools (Kajabi/Circle are better fits).
Fee Structure
| What you charge | Substack takes | Stripe takes (est.) | You keep |
|---|---|---|---|
| $5/month | $0.50 | $0.44 | ~$4.06 (81%) |
| $10/month | $1.00 | $0.59 | ~$8.41 (84%) |
| $50/month | $5.00 | $1.75 | ~$43.25 (87%) |
| $100/month | $10.00 | $3.20 | ~$86.80 (87%) |
Stripe fees assume 2.9%+$0.30 per monthly charge. Annual plans slightly reduce per-charge processing cost.
Key Facts
| Category | Newsletter / paid subscription platform |
| Platform fee | 10% of paid subscription revenue |
| Payment processor | Stripe (~2.9% + $0.30/charge) |
| Monthly fee | None |
| Payout speed | Monthly, 10–14 days after billing cycle |
| Minimum payout | $50 |
| Free plan | Yes — unlimited free newsletter, 0% fees |
| Founded | 2017 |
| HQ | San Francisco, USA |
Country Availability
| UK 🇬🇧 | Canada 🇨🇦 | Australia 🇦🇺 |
|---|---|---|
| ✅ | ✅ | ✅ |
UK writers receive GBP payouts where Stripe GBP payouts are available. Canadian writers receive CAD. Australian writers receive AUD. Stripe handles the currency; Substack passes through the net amount after its 10% cut.
Features
| Feature | |
|---|---|
| Unlimited free newsletter | ✅ |
| Paid subscriptions (monthly + annual) | ✅ |
| Built-in subscriber management | ✅ |
| Podcast hosting | ✅ |
| Video posts | ✅ |
| Community / chat threads | ✅ |
| Referral / recommendations network | ✅ |
| Custom domain | ✅ |
| Mobile app (Substack app) | ✅ |
| Import from Mailchimp/ConvertKit | ✅ |
| Analytics | ✅ |
| Paywall / metered access | ✅ |
Pros
- Zero upfront cost — genuinely free until you monetise
- Largest dedicated newsletter reader network outside email; Substack's discovery tab sends organic subscribers
- Built-in podcasting, video, and community features at no extra cost
- High reader trust: subscribers expect to pay for Substack newsletters, reducing conversion friction
- Annual subscription option reduces churn and Stripe per-charge fees
Cons
- 10% platform fee is one of the higher cuts in the creator economy for established newsletters
- No course or digital product sales (Substack is newsletters only)
- Limited design customisation compared to self-hosted Ghost or Beehiiv
- Substack owns the subscriber relationship more than you do — exporting is possible but migration is friction
Substack vs Alternatives
| Substack | Ghost | Beehiiv | Kit (ConvertKit) | Patreon | |
|---|---|---|---|---|---|
| Platform fee | 10% | 0% | 0% | 0% | 8–12% |
| Monthly cost | None | $9–$199 | $0–$99 | $25–$119 | None |
| Break-even vs Ghost ($9/mo) | — | $90/mo revenue | — | — | — |
| Discovery network | ✅ Strong | ❌ | ✅ Growing | ❌ | ✅ Strong |
| Course/product sales | ❌ | ✅ | ❌ | ✅ | Limited |
| Free newsletter | ✅ | ✅ | ✅ | ✅ | ❌ |
The break-even rule: Substack costs less than Ghost Creator ($9/mo) until your paid subscription revenue hits $90/month. Costs less than Ghost Starter ($25/mo) until you hit $250/month. Beyond $250/month in paid subs, Ghost's flat fee becomes cheaper than Substack's 10%.
Who Should Use Substack
Perfect for: Journalists, essayists, analysts, and niche experts who want to convert a free readership into paid subscribers quickly — Substack's recommendation network is the strongest organic discovery tool in newsletters.
Skip it if: You already have a large paid subscriber base and the 10% fee is meaningful; you need to sell courses or digital products alongside your newsletter; or you want full ownership of your subscriber data from day one (Ghost or self-hosted tools are better).
How to Get Started
- Go to substack.com and sign up — free, no card required
- Name your publication and write your first free post to establish your voice
- Build an initial free subscriber base (aim for 200+ before enabling paid)
- Enable paid subscriptions from your Settings → Payments dashboard and connect Stripe
- Announce your paid tier to free subscribers with a clear pitch for why it's worth subscribing
Frequently Asked Questions
Can I move my subscribers if I leave Substack? Yes — Substack lets you export your full subscriber list as a CSV at any time, including email addresses, subscription status, and join date. This is the key reason Substack is less lock-in-prone than Patreon.
Does Substack charge VAT or GST? Stripe collects and remits applicable taxes on subscription payments depending on subscriber location. As a UK/CA/AU writer, you may need to register for VAT/GST above relevant thresholds — consult an accountant.
What's the difference between Substack free and paid posts? You can make individual posts free or paid (subscriber-only). Paid subscribers see everything; free subscribers see free posts only. You can set a metered access wall (e.g. "first 3 posts free then paywall").
This review was last updated 2026-05-10. Fees may change — always verify at Substack's pricing page.
feebite does not have an affiliate relationship with Substack. Our reviews are editorially independent.