Depth Over Frequency on Substack
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Justin Gage, founder of Technically, on how Substack earns its 10% take rate
As far as I know, I'm generating the most revenue among Substack writers with a cadence like that.
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The key insight is that publishing less often can still work at the high end of paid newsletters, but only when the writer is selling depth and trust rather than keeping up with the news. That matters because weekly publishing is hard to sustain, and Substack’s model gets stronger when top writers can keep subscribers paying without needing to produce a fresh 2,000 word post every few days.
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The economics behind burnout are harsh. Typical paid newsletters on Substack have been modeled at roughly 50% to 60% annual churn, which means writers must constantly replace lost subscribers. A slower cadence lowers that production pressure, but it only works if readers feel each issue is valuable enough to wait for.
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This is one reason newsletter platforms are adding lower effort products around the core email. Substack added chat, notes, reader, and app based discovery. Beehiiv built ads and paid recommendation units. The shared goal is giving writers ways to retain and monetize audiences between long form posts.
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The competitive split is becoming clearer. Substack still makes more when a writer directly sells subscriptions, so it is exposed to writer stamina. Kit and Beehiiv charge software fees and increasingly layer on ads, which makes them less dependent on any one creator publishing every week forever.
Going forward, the winning newsletter platforms will look less like pure email tools and more like systems that help a writer stretch one strong relationship across subscriptions, recommendations, community, and ads. That shift makes a durable biweekly or monthly writer not an edge case, but a blueprint for a healthier creator business.