Substack is a subscription-based newsletter platform that allows writers to monetize their content by charging subscribers for access to their work. It provides writers with tools to create and manage their newsletters, as well as a built-in payment system that allows them to receive payments directly from subscribers.
It’s business model is built around taking a percentage of the subscription revenue generated by its users. According to the company’s website, Substack takes a 10% cut of subscription revenue, with the remaining 90% going to the writer. This revenue split is more favorable to writers than most traditional publishing models, which typically pay writers a percentage of the revenue generated by their work after deducting various expenses.
Substack has become popular among independent writers and journalists who want to publish their work without having to rely on traditional media outlets. It has also attracted a number of high-profile writers, including Glenn Greenwald, Andrew Sullivan, and Matt Taibbi.