This year, Substack has experienced rapid subscriber increase, fueled by the chaotic political landscape and a deliberate expansion into podcasts and videos.
According to Hamish Mckenzie, one of the co-founders, Substack has surpassed 5 million subscribers who pay for its services. This number was at 4 million only four months back, and it was 3 million a year ago.
The number of people paying for Substack’s services has grown to over 5 million, up from 4 million four months ago, and 3 million one year ago.
About a year ago, Substack reported that around half of its top 250 creators incorporated audio and video into their routine content. Today, this figure has risen to 82%, highlighting the significant impact that such multimedia content has had on the platform.
2021 has seen a significant surge in interest due to the political instability. This has left many people seeking clarity on current events. There’s a surge of opinions, whether they are anti-Trump or pro-Trump, causing individuals to search for fresh perspectives. Traditional media outlets, which aren’t performing as well as before, are experiencing some disruption, according to McKenzie. This is evident across various TV networks, with figures like Jim Acosta leaving CNN, Joy Reid departing MSNBC, Jen Rubin parting ways with The Washington Post, and Paul Krugman stepping down from The New York Times. This trend, which was already on the rise, has hastened growth, possibly pushing the 5 million subscriber milestone to arrive earlier than anticipated.
Indeed, several well-known former TV news hosts have recently made their debut on Substack, using video effectively in many cases. For instance, Joy Reid started her Substack only a week after her final MSNBC show, while Jim Acosta launched his on the very same day that his departure from CNN was announced. Furthermore, Mehdi Hasan utilized his exit from MSNBC to establish an entire news brand, Zeteo, which operates on the Substack platform.
With TikTok’s future uncertain, creators who thrive on social platforms are starting to carefully consider where they share their content.
The possible ban of TikTok has emphasized the value of creators maintaining direct connections with their audience, rather than relying solely on platform rules,” McKenzie explains. “That’s why we’ve been enhancing Substack to cater to individuals who enjoy creating videos, often combining writing, audio, and video content. We recognize that many people predominantly use mobile devices, spending time on platforms like TikTok, Instagram, or YouTube, and may never interact with a desktop computer. This doesn’t mean they lack intelligence or disregard culture. On the contrary, we are intentionally developing Substack to cater to this demographic, and the results have been promising.
Substack, similar to cable news, is adopting one of its distinctive features, but with a unique spin. This is the Substack Live feature where creators conduct live broadcasts and invite guests for discussions on current events, and it has experienced rapid expansion as per McKenzie’s statements recently.
One exciting aspect of the latest addition is the ability to broadcast live together. This allows for real-time collaboration during the stream, making it feel much like a shared public video call, such as an extended FaceTime conversation. For instance, Paul Krugman has done this with Noah Smith, and these interactive sessions occur frequently.
As a devoted follower, I find it fascinating how the dynamics of the podcast realm echo here. Just like hosts often appear on each other’s shows to boost audience interaction, Substack seems to operate in a similar way. Interestingly, over half of their subscriptions, and about one-third of paid ones, originate from within their very own network.
McKenzie explains that it’s akin to the process by which podcasts expand, as they gain visibility among another person’s followers.
Essentially, the company aims to develop an environment where creators across various fields can have a Substack platform that coexists with their content on other platforms like X, YouTube, or TikTok.
As a fan, I firmly believe that establishing a home on Substack empowers you by giving you autonomy over your content. Here, you forge a direct connection with your audience and can generate income through their subscriptions. Interestingly, it’s quite profitable to monetize in this way. Furthermore, other platforms can shift from controlling you to working for you once you’ve set up on Substack.
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2025-03-11 18:25