Newsletter Creators Build $1 Million Businesses as Substack’s Top 10 Earn Over $40 Million
Updated
Updated · The Washington Post · Jun 21
Newsletter Creators Build $1 Million Businesses as Substack’s Top 10 Earn Over $40 Million
3 articles · Updated · The Washington Post · Jun 21
Summary
Ryan Broderick’s Garbage Day brought in nearly $500,000 last year and is targeting $1 million in 2026, showing how solo newsletter projects are turning into multi-revenue media businesses.
5,100 paying subscribers at $5 a month, ads priced around $1,000 to $2,000, a podcast with nearly 2,500 Patreon backers and $100,000 in consulting revenue have helped Broderick diversify beyond any single platform.
Substack said its top 10 publishers collectively make more than $40 million a year, with more than 30 politics and news publications topping $1 million annually; rival beehiiv grew 2025 revenue 80% to $27.5 million.
Other creators are following the same model: Pantsuit Politics grosses about $1 million a year, while Olivia Wickstrom turned a 23,000-subscriber newsletter into roughly $80,000 in annual revenue including coaching.
The appeal is direct email distribution and personality-driven trust at a time of layoffs, weaker faith in institutions and growing AI-generated content, though creators and academics say the path remains precarious and harder for newcomers.
With creators building million-dollar brands, are we seeing the birth of decentralized media empires?
Are journalists escaping media instability or just trading corporate bosses for algorithmic ones?
As AI learns to mimic authenticity, how will human creators prove their unique value?
Substack in 2026: Metrics, Monetization, and the Battle for Creator Loyalty Amid Rising Competition
Overview
As of mid-2026, Substack stands out as a powerhouse in the creator economy, especially in newsletters and independent publishing. The platform has played a key role in making paid subscriptions popular for individual writers and creators, helping them build direct relationships with their audiences. Substack’s ongoing prominence points to steady growth in paid subscriptions and a strong group of top earners. However, its leading position faces growing competition as the creator platform landscape evolves, with new players offering attractive alternatives. Despite this, Substack’s reputation and established ecosystem continue to support its leadership in the market.