I've got an email newsletter that 874 people pay me $5/m to read (The Sizzle - https://thesizzle.com.au). I set it up outside of Substack a few years ago, then migrated when Substack launched with the hope their platform would bring in new readers and make my life easier.
This turned out to be a massive waste of over a year, as not only did the newsletter stop growing, it lost subscribers. There was no platform effect by being on Substack, so I left it, setup my homebrew solution (where all the bits, like billing, email sending, customer info are interchangeable) and growth has resumed and I'm doing better than ever - all without giving Substack a 10% cut and further locking myself into their ecosystem.
>What I put out there every day is worth the measly $5 a month I charge for it. What worked well for me in the past was giving out a no strings attached free trial of The Sizzle for two weeks then asking people to pay if they want it to continue. Substack’s business model however is freemium content. You give away the bulk of your content to build an audience then upsell that audience with paid subscriber only content. [...] I could add a 14-day free trial to the paid subscription, but Substack doesn’t do free trials without also adding a credit card and automatically charging that card when the trial is over. Most people hate this (me included) as they’re scared they’ll forget to cancel before the trial ends and get charged for something they don’t want, so they just don’t take the risk.
Your model sounds better for professional writers, or already established writers. But the benefit of Substack for emerging writers is that it gives them a platform to establish a brand presence with the hope that it will develop into a large enough audience to get enthusiastic readers who will convert into paid subscribers. There is also no easy way for new writers to try to start a writing career while also trying to figure out different technologies to send out a newsletter. Substack makes it completely easy, and it's fair that they charge some percentage once a writer starts earning money while using their platform.
I've got an email newsletter that 874 people pay me $5/m to read (The Sizzle - https://thesizzle.com.au). I set it up outside of Substack a few years ago, then migrated when Substack launched with the hope their platform would bring in new readers and make my life easier.
This turned out to be a massive waste of over a year, as not only did the newsletter stop growing, it lost subscribers. There was no platform effect by being on Substack, so I left it, setup my homebrew solution (where all the bits, like billing, email sending, customer info are interchangeable) and growth has resumed and I'm doing better than ever - all without giving Substack a 10% cut and further locking myself into their ecosystem.
Here's a blog post explaining in more detail why I chose to remove myself from Substack if anyone is interested: https://blog.decryption.net.au/t/why-i-use-a-mishmash-of-ser...