The New Substack Universe ⇥ nymag.com

Remember when Substack’s co-founders went to great lengths to explain what they had built was little more than infrastructure? It was something they repeated earlier this year:

You need to have your own corner of the internet, a place where you can build a home, on your own land, with assets you control.

Our system gives creators ownership. With Substack, you have your own property to build on: content you own, a URL of your choosing, a website for your work, and a mailing list of your subscribers that you can export and take with you at any time.

This is a message the company reinforces because it justifies a wildly permissive environment for posters that requires little oversight. But it is barely more true that Substack is “your own land, with assets you control” than, say, a YouTube channel. The main thing Substack has going for it is that you can export a list of subscribers’ email accounts. Otherwise, the availability of your material remains subject to Substack’s priorities and policies.

What Substack in fact offers, and what differentiates it from a true self-owned “land”, is a comprehensive set of media formats and opportunities for promotion.

Charlotte Klein, New York magazine:

Substack today has all of the functionalities of a social platform, allowing proprietors to engage with both subscribers (via the Chat feature) or the broader Substack universe in the Twitter-esque Notes feed. Writers I spoke to mentioned that for all of their reluctance to engage with the Notes feature, they see growth when they do. More than 50 percent of all subscriptions and 30 percent of paid subscriptions on the platform come directly from the Substack network. There’s been a broader shift toward multimedia content: Over half of the 250 highest-revenue creators were using audio and video in April 2024, a number that had surged to 82 percent by February 2025.

Substack is now a blogging platform with email capabilities, a text-based social platform, a podcasting platform, and a video host — all of which can be placed behind a paywall. This is a logical evolution for the company. But please do not confuse this with infrastructure. YouTube can moderate its platform as it chooses and so can Substack. The latter has decided to create a special category filled to the brim with vaccine denialism publications that have “tens of thousands of paid subscribers”, from which Substack takes ten percent of earnings.