Introduction: Substack’s unlikely rise
Substack emerged as a simple, powerful idea: allow writers to publish directly to paying subscribers. It democratized monetization, letting independent journalists, novelists, and experts build audiences without going through traditional gatekeepers. The appeal was clear: fewer barriers, direct relationships, and a sustainable model where creators could earn a living from newsletters and memberships.
The pivot: from newsletters to a broader media platform
In recent years, Substack has pushed beyond email newsletters into a broader media ecosystem. It announced ventures like features for podcasts, a push into video content, and even a formal push to become a home for longform work. The company started talking about becoming a hub for deeper, longer pieces and “the home for the best longform…work.” This expansion signaled a shift from a lean publishing tool to a more ambitious, multi-format media company.
Substack TV and new formats
One high-profile move was the launch of a Substack TV app for Apple TV and Google TV. The idea: help creators reach new audiences with video and streaming formats, monetizable through the Substack platform. On the surface, this makes sense: if writers and creators can publish across formats, they can grow their businesses more efficiently. But it also raises questions about focus, curation, and how much control writers retain over their core products—their newsletters.
The tensions: autonomy vs. platform ambitions
As Substack broadens, tensions naturally emerge around creator autonomy. Writers who joined Substack for straightforward newsletters may worry about dilution of the original promise: a simple, transparent path from writer to reader. When a platform starts prioritizing video streams, live events, or broader media deals, does it risk guiding creators toward formats that maximize the platform’s revenue rather than the writer’s direct relationship with subscribers?
Monetization and creator incentives
Monetization remains central to Substack’s identity, but the economics have grown more complex. Substack’s revenue-sharing terms, paid features, and potential for additional services can change the incentives for writers—often without obvious upside for all creators. Some long-time writers applaud the expansion as opportunity; others fear it diverts attention from the newsletter-centric model that made Substack attractive in the first place.
Content moderation and platform governance
With growth comes governance challenges. As Substack scales, moderation policies and editorial boundaries become more consequential. Writers rely on the platform for distribution and paywalls; the platform, in turn, sets standards for what content is allowed and how it is surfaced. Public debates around moderation, safety, and community guidelines reflect a broader industry conversation about platform responsibility, free expression, and the pressures of commercial success.
What this means for writers and readers
For readers, Substack still offers a direct line to trusted writers and niche expertise. For writers, the question is whether the expanded product suite serves their needs or creates competing priorities. The best-case scenario is a well-integrated ecosystem where newsletters, podcasts, and video complement one another while preserving the core value: a sustainable, direct relationship with paying subscribers. The risk is mission drift—where the platform’s growth metrics overshadow the quality, independence, and trust that attracted creators in the first place.
Future outlook: retaining core identity while growing
Substack’s challenge is balancing expansion with the core promise of creator-first monetization. If the company can keep a clear path for writers to earn a living from newsletters while offering optional, well-integrated multi-format options, it may preserve the trust that built its initial community. Conversely, if growth sidelines the newsletter at the expense of broader media ambitions, creators may seek alternatives that foreground simplicity and independence again.
Conclusion
The question isn’t whether Substack should evolve, but how it can evolve without losing the essence of what made it valuable: a direct connection between writers and readers, empowered by a straightforward monetization model. The platform’s next moves will determine whether it remains the home for independent voices or becomes just another media conglomerate with a familiar name.
