Substack vs Medium 2026: Revenue, Features & Best Choice
Quick Answer
AI SummarySubstack is a newsletter-first platform that lets creators keep 90% of subscription revenue and build direct audience relationships, while Medium is a reading platform with a curated feed that pays writers from a subscription pool (creators receive 50% of revenue). Substack prioritizes creator independence; Medium prioritizes content discovery.
Read full verdictChoose Substack if you want maximum revenue retention, direct subscriber control, and are willing to drive your own audience growth through email. Choose Medium if you prefer built-in discovery, algorithmic reach to millions of readers, and don't mind a lower revenue share in exchange for passive traffic.
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Choose Substack if
Best pickIndependent writers, podcasters, and experts who already have an audience and want to maximize earnings while maintaining direct subscriber relationships.
Choose Medium if
Emerging writers seeking audience building, journalists transitioning to independent writing, and content creators who value discovery over direct revenue maximization.
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Key Differences at a Glance
- Creator Revenue Share:✓ Substack wins(90% of subscription revenue vs 50% of subscription pool)
- Primary Format:Email newsletter (push to inbox) vs Web articles on curated feed
- Audience Discovery Model:✓ Medium wins(Algorithmic feed; content discovery built-in vs Creator builds own list; algorithmic recommendations limited)
Key Facts & Figures
76 numeric metrics compared
| Metric | Substack | Medium | Ratio |
|---|---|---|---|
| Creator Revenue Retention(percentage) | 90%+ | 50% (pool-based) | |
| Content Monetization Speed(days to first sale) | Immediate (day 1) | 30-90 (eligibility required) | |
| Content Format Flexibility(format count) | Newsletters, Notes, Video, Audio (4+) | Articles, audio, multimedia (3) | |
| Estimated Monthly Readers(millions) | 10-15M (growing) | 100M+ | |
| Starting Cost(USD) | $0 | — | — |
| Revenue Share on Subscriptions(percent) | 10% | — | — |
| Setup Time to First Newsletter(minutes) | 5-10 | — | — |
| Monthly Platform Cost(USD) | $0 (10% revenue share) | — | — |
| Revenue Retention Rate(%) | 90% | — | — |
| Average Subscriber Payment(USD/month) | $5-$10 | — | — |
| Starting Monthly Cost(USD) | $0 (revenue-share only) | — | — |
| Platform Fee on Revenue(%) | 10% | — | — |
| Third-party Integrations(integrations) | 15-20 | — | — |
| Setup Time for Beginners(hours) | 30 minutes - 1 hour | — | — |
| Platform Commission on Paid Subscriptions(%) | 10% (all payment methods) | — | — |
| Creator Retains of Revenue(%) | 90% | — | — |
| Platform Fee on $1,000 Monthly Revenue(USD) | $100 (10% of paid subscriptions) | — | — |
| Email Inbox Placement Rate(%) | ~95% (optimized infrastructure) | — | — |
| Maximum Custom Membership Tiers(tiers) | 3 tiers maximum | — | — |
| Minimum Membership Price(USD per month) | $5/month | — | — |
| Estimated Active Creator Base(thousands of creators) | ~500,000+ writers | — | — |
| Monthly Active Users (Audience)(millions) | ~50+ million monthly | — | — |
| Monthly Active Users (Platform)(millions) | 1+ million (estimated 2024) | — | — |
| Monetization Options Available(types) | 2 (free + paid subscriptions) | — | — |
| Organic Discovery Potential(score) | Moderate (Notes feature, recommendations) | — | — |
| Median Creator Monthly Revenue(USD) | $300-$1,500 | — | — |
| Creator Revenue Share(%) | 90% | 50% | |
| Pre-built Automation Workflows(count) | 3-5 basic templates | — | — |
| Segmentation Data Points(data fields) | 5 (list-based only) | — | — |
| E-commerce Integrations(platforms) | 0 (built-in subscriptions only) | — | — |
| Time to First Email Campaign(minutes) | 5-10 minutes | — | — |
| Paid Plan Starting Price(USD/month) | 12 (Professional plan) | — | — |
| Active Publications/Users(millions) | 500K publications | — | — |
| Platform Fee on Primary Monetization(%) | 10% on paid subscriptions | — | — |
| Creator Base Size(creators) | 3M+ creators | — | — |
| Monthly Cost (Base)(USD) | $0 (free plan available) | — | — |
| Revenue Share on Subscriptions(percentage) | 10% flat platform fee | — | — |
| Setup Time for Non-Technical User(minutes) | 5-10 minutes (sign up and publish) | — | — |
| Design Customization Options(themes) | 15-20 template variations | — | — |
| Free Trial Period(days) | Unlimited (free forever plan) | — | — |
| Platform Fee Percentage(%) | 10% subscription revenue only | — | — |
| Creator Earnings Threshold for Payment(USD) | $10 minimum payout (or held until threshold) | — | — |
| Minimum Payout Threshold(USD) | $0 (micro-payments) | $100 | |
| Time to First Earn(days) | ~30 (requires subscriber) | 1-7 (engagement-based) | |
| Platform Audience Retention Rate(%) | ~45% | ~62% | |
| Average Creator Monthly Earnings(USD) | $500-$5,000 (with audience) | $50-$500 (median) | |
| Starting Cost(USD/year) | Free ($0) | Free ($0) | |
| Monthly Active Users (Platform Reach)(millions) | 100+ million | 100+ million | |
| Setup Time to First Publish(minutes) | 5-10 minutes | 5-10 minutes | |
| Maximum Revenue Potential (Monthly)(USD) | $5,000+ (top writers) | $5,000+ (top writers) | |
| Cost per 10,000 Subscribers/Year(USD) | $0 | $0 | |
| Annual Hosting Cost(USD) | Free (or $5-12/month premium) | Free (or $5-12/month premium) | |
| Design Templates Available(templates) | 15-20 official templates | 15-20 official templates | |
| Revenue Share on Ad Revenue(percent) | 50% (Medium takes 50%) | 50% (Medium takes 50%) | |
| Content Export Difficulty(ease score (1-10)) | Very difficult (2/10) | Very difficult (2/10) | |
| Technical Maintenance Required(hours per month) | 0 hours (fully managed) | 0 hours (fully managed) | |
| Monthly Active Readers(millions) | 100+ | 100+ | |
| Custom Domain Cost(USD/month) | $5-12 (Pro required) | $5-12 (Pro required) | |
| Platform Founded(year) | 2012 | 2012 | |
| Base Annual Cost(USD) | $168/year (Premium membership) | $168/year (Premium membership) | |
| Time to First Publish(minutes) | 2-5 minutes (sign up and publish) | 2-5 minutes (sign up and publish) | |
| Available Integrations(count) | 50+ (official partnerships) | 50+ (official partnerships) | |
| Content Ownership(percentage of rights) | Shared (Medium retains platform rights) | Shared (Medium retains platform rights) | |
| Average Writer Earnings (Partner Program)(USD per month) | $50-500 (Medium Partner Program) | $50-500 (Medium Partner Program) | |
| SEO Customization(scale 1-10) | 5/10 (limited meta controls) | 5/10 (limited meta controls) | |
| Customizable Themes(count) | 15-20 built-in templates | 15-20 built-in templates | |
| Minimum Annual Cost(USD) | $0 free, $120 premium optional | $0 free, $120 premium optional | |
| SEO Customization Level | 4/10 (limited meta control) | 4/10 (limited meta control) | |
| Global Market Share(%) | 0.6% | 0.6% | |
| Base Monthly Cost(USD) | $0 (free plan) | $0 (free plan) | |
| Time to First Publication(minutes) | 5 minutes (sign up and publish) | 5 minutes (sign up and publish) | |
| Platform Monthly Active Users(millions) | 180M monthly active users | 180M monthly active users | |
| Average Creator Annual Earnings(USD) | $1,000 (Medium Partner average) | $1,000 (Medium Partner average) | |
| Average Email Open Rate(%) | 15-20% (industry standard) | 15-20% (industry standard) | |
| Partner Program Threshold(followers) | 100+ followers required | 100+ followers required | |
| Analytics Metrics Depth(count) | Basic (views, reads, engagement) | Basic (views, reads, engagement) |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
- 90% of subscription revenue(winner)Creator Revenue Share50% of subscription pool
- Email newsletter (push to inbox)Primary FormatWeb articles on curated feed
- Creator builds own list; algorithmic recommendations limitedAudience Discovery ModelAlgorithmic feed; content discovery built-in(winner)
- ~3 million (2024)Monthly Active Users~100+ million (2024)(winner)
- Creator sets own subscription price ($5-$50+/month)(winner)Pricing FlexibilityFixed $5/month for readers; creators earn from pool
- Simple paywall; readers can subscribe directlyPaywall ModelMember-only content; requires Medium membership
- 30 minutes; minimal steps requiredSetup Complexity15 minutes; same day publication possible
- Creator Revenue Share
Substack
90% of subscription revenue(winner)
Medium
50% of subscription pool
- Primary Format
Substack
Email newsletter (push to inbox)
Medium
Web articles on curated feed
- Audience Discovery Model
Substack
Creator builds own list; algorithmic recommendations limited
Medium
Algorithmic feed; content discovery built-in(winner)
- Monthly Active Users
Substack
~3 million (2024)
Medium
~100+ million (2024)(winner)
- Pricing Flexibility
Substack
Creator sets own subscription price ($5-$50+/month)(winner)
Medium
Fixed $5/month for readers; creators earn from pool
Full Comparison
| Attribute | Substack | Medium |
|---|---|---|
| Creator Revenue Retention(percentage) | 90%+(winner) | 50% (pool-based) |
| Content Monetization Speed(days to first sale) | Immediate (day 1)(winner) | 30-90 (eligibility required) |
| Revenue Retention Rate(%) | 90% | — |
| Average Subscriber Payment(USD/month) | $5-$10 | — |
| Minimum Membership Price(USD per month) | $5/month | — |
Show 10 more attributesCreator Revenue Share(%) 90% 50% Revenue Share on Subscriptions(percentage) 10% flat platform fee — Creator Earnings Threshold for Payment(USD) $10 minimum payout (or held until threshold) — Minimum Payout Threshold(USD) $0 (micro-payments) $100 Maximum Revenue Potential (Monthly)(USD) $5,000+ (top writers) — Revenue Share on Ad Revenue(percent) 50% (Medium takes 50%) — Average Writer Earnings (Partner Program)(USD per month) $50-500 (Medium Partner Program) — Average Creator Annual Earnings(USD) $1,000 (Medium Partner average) — Partner Program Threshold(followers) 100+ followers required — Story-Level Paywall Option Yes (Member-only stories) — | ||
| Audience Discovery for New Writers(ease rating) | Low (requires existing audience) | High (algorithmic reach)(winner) |
| Audience Discovery Strength | Strong directory and algorithm-driven recommendations | — |
| Built-in Audience Discovery(boolean) | Yes, algorithmic recommendations to 100M+ users | — |
| Subscriber List Ownership(yes/no) | Yes | No |
| Content Format Flexibility(format count) | Newsletters, Notes, Video, Audio (4+)(winner) | Articles, audio, multimedia (3) |
| Design Customization Level | Limited customization options | — |
| Built-in Discovery Features | Established Notes network with high discoverability | — |
| Analytics Depth | Basic subscription and open rate analytics | — |
| API and Integration Support | Limited third-party integration options | — |
Show 17 more attributesSEO Capabilities Basic (limited control) — Monetization Methods Primarily paid subscriptions — Free Subscriber Limit(subscribers) Unlimited — Email Automation Workflows(capability level) Basic (simple sequences) — Native Product/Course Hosting(capability) No - subscriptions only — Native Shop/Products Feature(yes/no) No—requires third-party integration — Monetization Options Available(types) 2 (free + paid subscriptions) — Pre-built Automation Workflows(count) 3-5 basic templates — Segmentation Data Points(data fields) 5 (list-based only) — Email Deliverability Native email infrastructure — Content Type Support(types) Text newsletters, podcasts (limited) — Content Types Supported(count) Newsletters, posts, audio, Notes (social) — Web3/NFT Features None — Free Tier Custom Domain No (requires paid membership) — Customization Options 3/10 (template-based) — Email Automation Capabilities Basic digest, no automation workflows — Subscriber Segmentation & Tagging Not available — | ||
| Estimated Monthly Readers(millions) | 10-15M (growing) | 100M+(winner) |
| Monthly Active Users (Audience)(millions) | ~50+ million monthly | — |
| Platform Monthly Active Users(millions) | 180M monthly active users | — |
| Algorithm Dependency Risk(risk level) | Low (own subscribers)(winner) | High (platform-dependent) |
| Platform Content Diversity Trend (2026)(growth/decline) | Expanding (Notes, Video, Visual) | Declining (Category counts down 20-38%) |
| Starting Cost(USD) | $0 | — |
| Revenue Share on Subscriptions(percent) | 10% | — |
| Monthly Platform Cost(USD) | $0 (10% revenue share) | — |
| Starting Monthly Cost(USD) | $0 (revenue-share only) | — |
| Platform Fee on Revenue(%) | 10% | — |
Show 11 more attributesPaid Plan Starting Price(USD/month) 12 (Professional plan) — Platform Fee on Primary Monetization(%) 10% on paid subscriptions — Monthly Cost (Base)(USD) $0 (free plan available) — Creator Subscription Price Range(USD/month) $5-$50+ (creator-controlled) $5 fixed Starting Cost(USD/year) Free ($0) — Annual Hosting Cost(USD) Free (or $5-12/month premium) — Custom Domain Cost(USD/month) $5-12 (Pro required) — Base Annual Cost(USD) $168/year (Premium membership) — Minimum Annual Cost(USD) $0 free, $120 premium optional — Base Monthly Cost(USD) $0 (free plan) — Free-to-Start Publishing Yes, free tier available — | ||
| Setup Time to First Newsletter(minutes) | 5-10 | — |
| Setup Complexity | Low—straightforward publish-and-monetize flow | — |
| Time to First Email Campaign(minutes) | 5-10 minutes | — |
| Setup Time for Non-Technical User(minutes) | 5-10 minutes (sign up and publish) | — |
| Setup Time to First Publish(minutes) | 5-10 minutes | — |
Show 4 more attributesSetup Time(hours) 5 minutes — Technical Maintenance Required(hours per month) 0 hours (fully managed) — Time to First Publish(minutes) 2-5 minutes (sign up and publish) — Time to First Publication(minutes) 5 minutes (sign up and publish) — | ||
| Design Customization(Collections/Year) | Limited templates and styling | — |
| Design Templates Available(templates) | 15-20 official templates | — |
| Third-party Integrations(integrations) | 15-20 | — |
| E-commerce Integrations(platforms) | 0 (built-in subscriptions only) | — |
| Setup Time for Beginners(hours) | 30 minutes - 1 hour | — |
| Platform Ads Display | Yes, throughout platform | — |
| Customer Support | Email, help center, limited support | — |
| Platform Commission on Paid Subscriptions(%) | 10% (all payment methods) | — |
| Creator Retains of Revenue(%) | 90% | — |
| Platform Fee on $1,000 Monthly Revenue(USD) | $100 (10% of paid subscriptions) | — |
| Payment Processing Fees(%) | Included in platform fee | — |
| Email Inbox Placement Rate(%) | ~95% (optimized infrastructure) | — |
| Maximum Custom Membership Tiers(tiers) | 3 tiers maximum | — |
| Estimated Active Creator Base(thousands of creators) | ~500,000+ writers | — |
| Creator Base Size(creators) | 3M+ creators | — |
| Monthly Active Users (Platform)(millions) | 1+ million (estimated 2024) | — |
| Organic Discovery Potential(score) | Moderate (Notes feature, recommendations) | — |
| Monthly Active Readers(millions) | 100+ | — |
| Subscriber Data Ownership | Creator owns full email list and subscriber data | — |
| Content Portability(text) | Full portability—export email list and content | Limited—content stays on Medium |
| Median Creator Monthly Revenue(USD) | $300-$1,500 | — |
| Free Plan Subscriber Limit(subscribers) | Unlimited | — |
| Active Publications/Users(millions) | 500K publications | — |
| Algorithmic Discovery Features | Directory + recommendations (30-40% of growth) | — |
| Payout Frequency(days) | Monthly | — |
| Design Customization Options(themes) | 15-20 template variations | — |
| Custom Domain Support | Not available | — |
| API Access Level(capability) | Limited API with basic integrations only | — |
| Free Trial Period(days) | Unlimited (free forever plan) | — |
| Supported Content Types | Written content and newsletters only | — |
| Platform Fee Percentage(%) | 10% subscription revenue only | — |
| Monetization Options | Subscriptions, tips, cross-promotion ads, sponsorships | — |
| Community Features | Comment sections, reader replies, minimal community tools | — |
| Platform Discovery Algorithm | Active—directory recommendations and subscriber suggestions | — |
| Monthly Active Users(millions) | ~3 million | 100+ million(winner) |
| Time to First Earn(days) | ~30 (requires subscriber) | 1-7 (engagement-based)(winner) |
| Platform Audience Retention Rate(%) | ~45% | ~62%(winner) |
| Average Creator Monthly Earnings(USD) | $500-$5,000 (with audience)(winner) | $50-$500 (median) |
| Monthly Active Users (Platform Reach)(millions) | 100+ million | — |
| Audience Ownership(percentage) | 0% (platform owned) | — |
| Email Marketing Capability(feature availability) | None; platform follows only | — |
| Subscriber List Export(availability) | Limited/not available | — |
| Cost per 10,000 Subscribers/Year(USD) | $0 | — |
| Plugin/Extension Ecosystem(count) | Limited to native features | — |
| Customizable Themes(count) | 15-20 built-in templates | — |
| Available Plugins/Extensions(count) | Limited native features | — |
| Content Export Difficulty(ease score (1-10)) | Very difficult (2/10) | — |
| Content Export Capability | Limited (restricted deletion/export) | — |
| Platform Founded(year) | 2012 | — |
| Content Ownership Rights | Medium retains rights (creators license) | — |
| Primary Target Audience | General interest + business + tech | — |
| Global Market Share(%) | 0.6% | — |
| Available Integrations(count) | 50+ (official partnerships) | — |
| Content Ownership(percentage of rights) | Shared (Medium retains platform rights) | — |
| SEO Customization(scale 1-10) | 5/10 (limited meta controls) | — |
| SEO Customization Level | 4/10 (limited meta control) | — |
| Data Portability(score out of 10) | 3/10 (difficult export) | — |
| Built-in Content Discovery | Algorithmic feed with 180M+ potential readers | — |
| Average Email Open Rate(%) | 15-20% (industry standard) | — |
| Analytics Metrics Depth(count) | Basic (views, reads, engagement) | — |
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Pros & Cons
10 pros·6 cons across both
Substack
Pros
Cons
Medium
Pros
Cons
Frequently Asked Questions
5 questions
Substack takes 10% of gross subscription revenue from paid newsletters. For free newsletters, Substack is free to use. Writers keep 90% minus payment processing fees (approximately 2.9% + $0.30 per transaction).
Yes. The Medium Partner Program pays based on reading time from Medium members, not follower count. New writers can earn from organic discovery through Medium's curation and internal search. However, typical earnings for most articles are modest unless pieces go viral or get curated prominently.
Medium articles can rank well in Google due to Medium's domain authority. Substack posts are primarily delivered via email, and while they have public URLs, they typically have weaker SEO footprint than equivalent Medium posts unless the writer actively builds their own domain.
Yes. You can export your Medium posts and republish them on Substack. Many writers have made this transition as they built a following on Medium and then converted those readers to Substack subscribers. Medium allows email list export for writers who collected subscriber emails.
Top Substack newsletters can earn millions annually. A newsletter with 10,000 paid subscribers at $10/month generates approximately $1.08 million/year after Substack's 10% fee. However, most Substack writers have far fewer paid subscribers — median paid subscriber counts are in the hundreds.
Expert Analysis: Substack vs Medium
Medium and Substack both position themselves as tools for serious writers, but they've evolved toward fundamentally different economic models — and the right choice depends almost entirely on whether you're building an audience from scratch or converting one you already have.
Substack's model is built around the newsletter-first, paid subscription premise. Writers publish via email to subscribers, optionally charge monthly or annual fees, and Substack takes 10% of gross revenue. The platform provides no organic discovery beyond its internal "Notes" feed and Substack's own editorial recommendations. This makes Substack powerful for writers who already have an audience — converting existing followers into paying subscribers with zero technical overhead. As of 2025, Substack has surpassed 5 million paid subscriptions, more than doubling in two years. Individual newsletters like The Free Press, Heather Cox Richardson's Letters from an American, and Emily Atkin's HEATED demonstrate that individual writers can generate six or seven-figure annual revenues independently of any media institution.
Medium's model operates differently. The Medium Partner Program pays writers based on reading time from paying Medium members ($5/month). Writers earn based on engagement, not direct subscriptions. This means Medium writers benefit from Medium's existing 100 million monthly readers — organic discovery, internal SEO, and curation by editors who can place articles on Medium's homepage or in major publications. For writers without an existing audience, this is a meaningful advantage: you can publish a well-crafted piece and reach thousands of readers within 24 hours without any existing follower base. Medium also hosts major publications (Towards Data Science, The Startup, Better Humans) that add institutional credibility to individual bylines.
Read 3 more paragraphsShow less
The trade-off is revenue ceiling. Medium payouts for most writers are modest — typically $5-$50 per piece for non-viral articles. A Substack writer who builds 500 paid subscribers at $10/month earns $54,000/year (after Substack's cut); reaching equivalent income on Medium requires sustained high-traffic output that most writers cannot maintain. Medium is better for building an audience; Substack is better for monetizing one you already have.
The content format also differs in important ways. Substack is optimized for long-form newsletter writing and personal voice — the format rewards intimacy and regular cadence. Medium's editing tools and layout are better suited to formatted articles, data journalism, tutorials, and technical writing. Medium curates into topic-specific publications; Substack is entirely personal-brand-driven.
The strategic playbook many successful writers use: start on Medium for discovery and SEO reach while building an email list, then migrate that list to Substack when you have enough subscribers (typically 1,000+ engaged readers) to justify the subscription model. The two platforms can serve sequential rather than competing functions in a writer's career.
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