Substack surpasses 5 million paid subscriptions
Substack has reached more than 5 million paid subscriptions for the first time, the company said this week.
The updated audience total comes just four months after the digital journalism and content creation platform announced in November it hit 4 million paid subscriptions and 3 million the February prior.
"It is a milestone that can be enjoyed in purely transactional terms: these are real people rewarding the work of writers and creators with real money, allowing them to achieve and maintain their independence," said Sophia Efthimiatou, head of writer relations, in a blog post about the news. "But to consider this purely as a financial achievement would be myopic. What we want is to create a wealth of culture."
A growing platform for independent journalists, bloggers and video content creators, Substack has built a business around hosting the work of self-employed writers, commentators and journalists, many of whom charge subscribers for their content.
In recent months, big names in media and politics like Paul Krugman, Jim Acosta and Steve Schmidt have left traditional media platforms, opting to publish on the platform instead.
The company said as of last spring, more than half of the 250 highest-revenue creators used audio and video. By February, that number had surged to 82 percent, reflecting a shift toward multimedia content and changing consumer habits.
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