Celebrating One Year of Paid Subscriptions
It's bloody thrilling
Hi there, Substackers,
I celebrated one year of paid subscriptions in my ‘main’ Substack this month.
This month my publication:
surpassed $10K in revenue, woo hoo.
got a 100% retention rate for renewals
celebrated a 5.9% conversion rate from free to paid.
It would be fair to say I am bloody thrilled!
I’m delighted to be making decent money from that publication, which I launched to create a new income stream. It’s working.
Also this month, I learned that Noah Smith, who writes Noahpinion, has just surpassed 10,000 paying subscribers for his newsletter. Ten thousand! Each subscriber pays $100 per year.
Ten thousand subscribers x $100 = $1 million per year from Substack
This is something we can all dream about! 😍
The Benefits of Substack
My publication is a long way from making me a million dollars, but the beauty of Substack is that it is incredibly scalable.
I’m averaging 8% to 10% growth in paying subscribers every month but I'm not putting in any extra hours. Think about that for a moment: I am doing the same amount of work but getting paid more for it, month after month.
Imagine if your boss at work gave you a ten percent pay rise EVERY SINGLE MONTH. By the end of the year, your income would have tripled. Nice work if you can get it.
You can get it. Substack is a platform that helps you create your own pay-rise machine.
Getting help
I learned the hard way that building and growing a Substack publication takes a lot of work - with plenty of false starts and failed experiments. Gaining confidence is a challenge and it’s hard to know where to turn to for help.
More and more people are asking me for help with their Substack publications. While I would love to help everyone, I can’t keep doing that for free.
So I’m proud to announce three new ways I can contribute to your success on the platform. Substack Audit Pro, Substack (mini) Audit and Substack Done for You, are three game-changing products tailored specifically to optimize your publication and unlock its full potential.
Check them out by clicking ‘Learn More’.
Where will Substack take you?
Substack has helped me grow my professional writing from a small-time side hustle to a genuine, meaningful income stream. Noah Smith makes $1 million per year from his writing.
What about you? What are your dreams for Substack? And how do you plan to get there? Let me know in the comments.
Congrats.
Talk about putting stacks to substack