Your behind-the-scenes look at what’s really happening and really working on Substack right now—with the platform’s leading Growth Strategist Sarah Fay.
Part 2 of the 2026 Pathway to Earning an Income on Substack
Okay, so I did some digging to see if there really is a crisis in paid subscriptions on Substack (and newsletters generally). ICYMI, someone wrote a viral article that stoked a lot of fear about the future of paid subscriptions on Substack.
The feelings are real—the worry—but the reality…might surprise you:
* It has always been hard to get paid subscribers.
* The rhetoric that Substack’s subscription model will never work has been around for half a decade, possibly since the platform’s inception in 2017. It might not, but the talk is nothing new.
* The data doesn’t support the idea that something has suddenly happened foretelling a grim reality and terrible future with paid subscriptions on Substack.
The worry just fosters assumptions that aren’t supported by the data:
* The economy is terrible, and people won’t pay.
* Subscription fatigue is driving a downturn in paid subscriptions.
* There’s a “subscription pie” we have to compete for a slice of.
* Bundling newsletters is the solution.
* Making Substack into a platform of Dollar Stores is the answer.
Today, I show you the flaws in these five (deadly) assumptions and five things you can do right now to be the one well-loved Substack people pay for.
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