Medium Versus Substack
Which is the better?
Of late there has been a great deal of negativity about Medium, and many people have left or are considering leaving Medium. Newbies especially are wondering if have they come to the wrong place. And established writers are wondering if they should move lock, stock and barrel and join what looks like a mass exodus. Here is my honest opinion.
The move to Substack makes perfect sense for those well-established writers with a very big following, like Tim Denning and Tom Kuegla. For us mere mortals, it is not so cut and dry.
On Substack, unless you monetise and attract lots of subscribers, you will not make any money, or very little even if you manage to get even a few subscribers.
For example, this month I made $103 here on Medium. To make that on Substack you will need in excess of twenty subscribers paying you $5 a month.
Don’t forget, when you monetise, Substack will take ten per cent of what you make and Stripe will take another three per cent for processing your subscriptions. That is thirteen per cent in total or $13 in every hundred! So that $103 I have just made on Medium, of which I get every cent, on Substack would be reduced to $89.61! Remember, on Medium the most you will pay is $5 a month, and no processing fees for Stripe.
