354 karma · joined March 27, 2013
Peruse the leaderboards at substack.com and in the new app (in the Discover tab).
Check out the profiles of the writers and readers you most respect (just click on their faces). You'll find lists of Substacks they're subscribed to, which may lead you to some interesting places and new writers to respect.
I think what has driven our growth is a nice synthesis between the product, the business dev work (i.e. convincing writers to give it a shot), and the business model.
The model may be the underestimated part. It's compelling for many writers, partly because of its simplicity and transparency: you own the relationship with your audience, you publish stuff that gets sent to them, and then if you're doing good work some portion of that audience will choose to pay you to keep going. That's a good deal for writers, since:
a) It lets them do the work they believe is most important b) No one can mess with their audience c) There's a clear path to making money, which is the major thing absent from most other options for writing on the internet (or, increasingly, anywhere else).
These things make Substack a relatively easy "sell".
Of course, some writers are better poised to succeed with this model than others, so we have put in a sustained effort to identify those writers and let them know about their opportunity on Substack. In a small number of cases, that has meant we've offered a financial package to derisk the move for them (you can think of it as like startup funding to get them going; many don't have much financial buffer and may be reluctant to leave jobs even if they are unhappy in those jobs). But the vast majority of writers doing well on Substack have come to the platform of their own accord, without any kind of deal.
For adding non-Substack publications into the Substack app via RSS, go to reader.substack.com (make sure you're logged in) and click on "Add RSS feed" in the left sidebar.
To answer the burn-out point: I think this is something writers have to take into account when they're starting their publishing businesses. Running a publication is definitely a demanding exercise and it is often under-estimated. That said, I think Ben Thompson, for example, handles this problem well: he makes it clear to Stratechery's subscribers that he regularly takes some time off to recharge, and he lets them know well in advance when he's going to take a break.
This is one of the areas we hope Substack can be helpful in, actually. We are building up a knowledge base of best practices, informed by the people who are publishing with our tools, so we can help all kinds of writers succeed. Part of the advice we offer relates to content strategy, pricing, cadence, etc, and part of it relates to less tangible stuff, like how to manage your own time and expectations.
And yes, converting readers from free to paid is a huge and unending challenge! We focus a lot of our effort on solving this very problem. One small piece of advice we offer is for a writer who is contemplating going paid to clearly signal the transition in advance to their readers, then give them incentives to subscribe early – like a special charter price, for instance. More broadly, Neil Cybart from Above Avalon shared some useful thoughts on the subscriber model recently. This comment stood out:
"Going from a scenario in which all content was public to one in which only a fraction of content is public can be jarring. Most sites have handled this transition by keeping content free and instead giving paid subscribers a very marginal amount of exclusive content. In essence, sites are treating subscriptions and memberships like donations. This is not sustainable for or attractive to subscription-based models."
What Neil is saying there is that it is better to set the expectation that the bulk of your content be available only for paying subscribers.