Substack Revenue Calculator — Net Income After Fees
Estimate Substack net income: paid subscribers × price minus the 10% platform fee and Stripe processing — monthly and yearly.
Last reviewed 2026-10-01. Rates change — verify against the official sources linked below before relying on these figures.
What this is based on
- Substack platform fee: 10% of every paid transaction.
- Stripe processing approximated at 2.9% + $0.30 per billing event.
- Annual plans modeled at 10× the monthly price (Substack's default discount structure), recognized monthly.
Substack's 10% is the real price — but there's a nuance
Between the 10% platform fee and ~3% Stripe processing, Substack keeps roughly 13–15% of gross. On 500 subscribers at $8 that's about $4,000/month gross, $3,400 net — a meaningful cut, though still far better than ad-supported models at the same audience size.
The counterpoint: 10% buys hosting, email delivery, the recommendation network (which drives a large share of growth for most publications) and a payment stack you'd otherwise assemble yourself. Beehiiv's flat $49–99/month can beat Substack's percentage past ~$1,000/month of paid revenue — the math flips faster than people expect.
The annual-plan effect on cash flow
Annual subscribers pay ~10 months' price upfront. That's a cash-flow weapon — one annual sub delivers 10 months of revenue today — but it also means churn is invisible for a year and refunds cluster at renewal. Model your annual share honestly; most newsletters sit at 20–40%.
What 'paid conversion' usually looks like
Industry rule of thumb: 5–10% of free subscribers convert to paid. 5,000 free subs at 7% = 350 paid. At $8/month that's ~$2,400 net — which is why list growth, not fee optimization, is the real lever until you're past ~2,000 paid subscribers.
Frequently asked questions
- How much does Substack take from paid subscriptions?
- 10% platform fee plus Stripe processing (~2.9% + $0.30 per transaction) — roughly 13–15% of gross combined.
- How much do I keep from a $8/month subscriber?
- About $6.67 — Substack takes $0.80, Stripe takes ~$0.53.
- Is Substack or Beehiiv cheaper?
- Beehiiv's flat monthly fee beats Substack's 10% once paid revenue exceeds roughly $500–1,000/month, but Beehiiv lacks Substack's recommendation network that drives free growth.
- What percentage of free subscribers go paid?
- Typically 5–10% for engaged newsletters. Niche B2B lists convert higher; general interest lists lower.
Related calculators
Calculate Patreon's cut of your memberships: platform fee by plan plus payment processing — see your real net monthly income.
Estimate YouTube AdSense revenue from monthly views and niche — realistic RPM ranges, monetized-playback share, and yearly projections.
Work backwards from your income goal: taxes, expenses, vacation and non-billable hours to the hourly and day rate you must charge.