I Went to Substack But I'm Coming Back!

I have just started medium for 8 weeks and my account has just started booming up, I have so far earned over $120 my level of excitement shooting to the sky.

Then, I heard about Substack which also offers a variety of features and also free just like medium. My interest was piqued and I decided to gather a lot more;

Both platforms offer a variety of features and tools to help writers create and distribute their content to a wide audience.

However, there are some key differences between the two which I care to know and believe will interest you as well.

As a beginner, my key interest is a platform that is simple, easy to use and it first and foremost has the ability to earn me a minimum income at the end of the month.

I don't really want to go into running a news letter, creating a website, podcast or charging followers for now.

For beginners, our main concern is how to survive the early stages by getting our minimum monthly earnings till we are completely grounded before thinking about the excesses.

So my question is, is Substack the promised land for writers chasing better financial returns, or does Medium still offer substantial benefits?

Substack, allows users to build an email marketing list, write newsletters, manage payments and even share shorts to form content similar to social media feeds.

I looked at the above and I realised I'm not ready for 80% of all that Substack is offering and to me, medium is more than enough till I get my head above the waters.

In contrast, medium offers a platform where anyone with a story can write, read and understand complex ideas. It supports thousands of in-depth articles from experts in every field.

Medium has become the home to Independent voices that might not otherwise be heard. When it comes to ease of use, medium to me, is far easy compared to what I experienced at substack.

Though Substack's interface is intuitive and a bit straightforward, medium caters for both beginners and professional with such great ease.

This is What Sent Me Running Back

Earning Money as a Writer On Medium

On Medium, writers can earn money through the Medium Partner Program, which pays based on the time Medium members spend reading their articles. 

While engaging content can lead to decent earnings for most medium members tapping into the over 700,000 paid members.

Earning Money as a Writer On Substack

Substack operates on a subscription model where writers charge readers directly. With Substack, you set your subscription price and keep most of the revenue, minus Substack's 10% cut and payment processing fees (around 2.9% + 30 cents per transaction).

For writers with a dedicated following, this can lead to more substantial earnings compared to Medium. 

However, building and maintaining a paying audience can be incredibly challenging and requires significant experience, effort and engagement.

Considering me as a newbie, acquiring this is a total "NO" for now.

May be later down the future when I have nailed down a niche and providing great value to my followers and belief the value is so great and important that I can levy subscriptions then I can consider it.

Cost to Readers On Medium

Medium charges a subscription costs of $5 per month or you can pay $50 per year. 

This provides unlimited access to a vast range of articles from various writers. 

For readers who enjoy exploring a wide range of content from different genre, Medium is an affordable and flexible option to go for.

Cost to Readers On Substack

On Substack, each writer sets their own subscription price based on how valuable they believe their newsletter is.

Often, this goes around $5 to $10 per month. If readers are interested in following different writers, costs can accumulate much quickly.

For instance, if you want to subscribe to three newsletters at $5 each, this would amount to $15 per month, which is significantly more than a Medium subscription. 

The cost can escalate further if you follow several writers, making Substack a potentially more expensive choice for those who want diverse content.

My Final Decision: Medium or Substack?

For me, I have made my decision as a beginner to be with medium for now. May be in the future when I have dedicated followers ready to pay for my subscriptions then I may transit.

The choice between Medium and Substack largely depends on your personal goals and existing audience:

Medium is more advantageous if you're still building your audience.

Its large platform and built-in readership offer better exposure and more consistent, albeit modest, income opportunities. 

It's also more cost-effective for readers who enjoy a variety of content from multiple writers.

Substack could be a better option if you have a dedicated and engaged audience willing to pay for your content.

It allows you to control your pricing and potentially earn more if you can sustain a loyal subscriber base.

However, substack requires a very strong personal brand and continuous effort to keep delivering value at the highest level in order for subscriber to keep paying you.

If you still want to cross over, weigh the potential for increased earnings against the practical challenges and costs. 

And remember, writing should primarily be driven by passion and creativity - financial gains are a bonus though necessary.