The potential of writing on Substack

Substack has emerged as a leading platform for writers seeking to monetize their content through subscription-based newsletters. Its appeal lies in the simplicity and control it offers: writers can directly reach their audience and retain a significant portion of their subscription revenue. The platform typically takes a 10% cut, with payment processing fees around 3%, allowing writers to keep roughly 87% of their earnings.

High earning potential for top writers

For top-tier writers, the earning potential can be substantial. Successful writers on Substack have reported monthly earnings ranging from a few thousand dollars to well over $100,000. This is primarily driven by their ability to attract and retain subscribers willing to pay for high-quality, niche content. Some of the most successful newsletters have tens of thousands of subscribers paying $5 to $10 per month. The allure of Substack is not just the revenue but the ability to build a loyal community around one's writing.

Moderate success for emerging writers

For emerging writers, the path to substantial earnings can be challenging but not unattainable. Building a subscriber base requires time, consistent quality content, and effective marketing. Writers with a modest following can expect to earn a few hundred to a few thousand dollars per month. Growth can be exponential if they successfully engage their audience and leverage social media and other marketing channels.

Leveraging previously posted articles on the Hive blockchain

The Hive blockchain offers an additional avenue for writers to monetize their content. Hive is a decentralized blockchain designed for social media platforms, enabling users to post, share, and earn cryptocurrency for their content. By cross-posting articles from Substack to Hive, writers can tap into a new revenue stream while expanding their reach.

Dual monetization and audience expansion

Posting on Hive allows writers to earn Hive tokens based on the upvotes and engagement their posts receive. This dual monetization strategy can be particularly effective for maximizing revenue from the same piece of content. Moreover, Hive's community-driven platform can introduce writers to new audiences who might later subscribe to their Substack newsletter.

Content ownership and longevity

One of the significant advantages of using Hive is the preservation and ownership of content. Since Hive operates on a blockchain, posts are immutable and cannot be censored or removed, ensuring that writers maintain control over their work indefinitely. This permanence can enhance a writer's portfolio, providing a transparent and tamper-proof record of their published content.

Conclusion

The combination of Substack and Hive represents a powerful strategy for writers seeking to maximize their earning potential and audience reach. Substack offers a direct and lucrative way to monetize newsletters through subscriptions, while Hive provides an additional revenue stream and a platform for content longevity and ownership. Together, they offer writers a robust framework for financial success and audience engagement in the digital age.

Sincerely,

Pele23