Compare Substack, Beehiiv, Ghost, and Patreon to see which newsletter tool lets you keep the most revenue.
Updated for 2026 · Verified rates
Monthly Gross Revenue
$10,000
Annual Projection
$120,000
Read detailed comparisons, then run the calculator with only those two tools selected.
Compare simplicity, growth tools, fees, and long-term revenue impact.
Compare revenue retention, ownership, setup complexity, and publishing workflow.
Compare ownership, growth features, referrals, and fixed-cost pricing.
Compare paid newsletters, memberships, communities, and creator fees.
Assumes Stripe payments on each platform's lowest paid-subscription tier. Actual costs may vary with currency exchange, VAT, or higher-tier features.
We track Substack, Beehiiv, Ghost, and Patreon pricing so you don't have to. Get notified when fees change — free, no spam.
The best newsletter platform depends on your audience size, subscription price, and priorities. If you value simplicity and want to start quickly, tools like Substack offer an all-in-one solution. If you're focused on growth and newsletter-specific features, Beehiiv provides powerful tools for building your audience. If you want to maximize take-home revenue and have technical comfort, Ghost gives you full control with no percentage-based fees.
As your paid newsletter grows, the financial impact of platform fees becomes more significant. Understanding how each tool's pricing model scales with your revenue helps you choose the right platform for your business.
| Tool | Pricing Model | Platform Fee | Best For | Main Tradeoff |
|---|---|---|---|---|
| Substack | Percentage-based | 10% + payment processing | Beginners, writers who want simplicity | Fees scale with revenue |
| Beehiiv | Fixed monthly | $43/month billed annually, or $49/month monthly + payment processing | Growth-focused creators, referral programs | Fixed cost regardless of revenue |
| Ghost | Fixed monthly (self-hosted option) | 0% + hosting (varies by plan) + payment processing | Revenue maximization, technical users | Requires more setup and management |
| Patreon | Percentage-based | 10% + payment processing | Creators with existing communities, membership tiers | Not newsletter-specific, fees scale with revenue |
The answer depends on your revenue level. Percentage-based fees like Substack's 10% can feel manageable when you're starting out, but they become increasingly expensive as your paid newsletter grows. A creator earning $10,000 per month pays $1,000 in platform fees to Substack, while that same creator might pay only $43-49 per month on Beehiiv (depending on billing) or hosting fees on Ghost.
Substack is often easiest for beginners, but its percentage fee can become expensive as paid newsletter revenue grows. At $5,000/month in revenue, you're paying $500/month in platform fees. At $20,000/month, you're paying $2,000/month. The all-in-one simplicity is valuable, but the cost scales linearly with your success.
Ghost can be a strong value for creators who want to maximize take-home revenue and are comfortable managing more setup. Because Ghost charges no percentage-based platform fee, you keep more of each dollar you earn. The hosting costs are predictable and don't increase as your revenue grows. However, you'll need to handle more technical aspects like domain setup, email deliverability, and potentially custom development.
Beehiiv can be a strong option for creators who care about growth tools, referrals, and newsletter-specific features. The flat fee ($43/month billed annually, or $49/month monthly) means your costs are predictable regardless of revenue. Once you're earning more than $430-490/month (at Substack's 10% fee), Beehiiv becomes mathematically cheaper. Beehiiv also includes powerful growth tools like referral programs, A/B testing, and advanced analytics that help you build your audience.
Payment processing fees (typically 2.9% + $0.30 per transaction) apply to all platforms and add up quickly. With 1,000 subscribers paying $10/month, you'll pay approximately $590 in payment processing fees alone, regardless of which newsletter platform you choose. These fees are charged by payment processors like Stripe, not by the newsletter platforms themselves.
The "best" tool isn't just about keeping the most money—it's about finding the right balance between revenue, features, ease of use, and time investment. Use the calculator above to see exactly how much you'd keep with each platform based on your specific audience size and subscription price.
Our calculator uses a transparent methodology to estimate your net revenue on each newsletter platform:
The calculations are based on publicly available pricing as of 2026. However, platforms may offer different plans, promotional pricing, or negotiate custom terms for larger creators. Always verify current pricing and fees directly with each platform before making a final decision.
Our tool also accounts for platform-specific details like Substack's additional recurring billing fee (0.7%) and Beehiiv's Scale plan requirement ($43/month billed annually, or $49/month monthly) for monetization features. These nuances can significantly impact your actual take-home revenue.
Pricing changes often. This calculator uses publicly listed platform pricing and estimated payment processing fees. Always verify current pricing with each platform before making a decision.
Official pricing sources:
Ghost pricing note: Ghost pricing varies by plan, audience size, and billing interval. This calculator uses simplified Ghost(Pro) pricing assumptions for comparison purposes.
Patreon fees note: Patreon processing and payout fees can vary by currency, payment method, location, and other factors. This calculator uses a simplified estimate for comparison purposes.
The best platform depends on your priorities. Substack is easiest for beginners with its all-in-one approach. Beehiiv offers powerful growth tools and predictable costs. Ghost maximizes revenue for creators comfortable with more technical setup. Patreon works well for creators with existing communities who want membership tiers beyond newsletters.
Beehiiv becomes cheaper than Substack once you're earning more than $430-490/month in gross revenue. Beehiiv charges a flat fee ($43/month billed annually, or $49/month monthly), while Substack takes 10% of your revenue. At $5,000/month, you'd pay $500/month to Substack but only $43-49/month to Beehiiv (plus payment processing on both).
No, Ghost does not take any percentage of your newsletter revenue. You pay a flat monthly hosting fee (pricing varies by plan, audience size, and billing interval) plus standard payment processing fees. This makes Ghost attractive for maximizing take-home revenue, especially as your paid newsletter scales.
Substack takes 10% of your gross revenue, plus an additional 0.7% recurring billing fee, plus standard Stripe payment processing fees (2.9% + $0.30 per transaction). In total, Substack's effective fee is approximately 13.6% + $0.30 per subscriber per month.
Substack is generally best for beginners because it requires zero technical setup. You get hosting, email delivery, payment processing, and subscriber management in one package. The tradeoff is the 10% platform fee, but the simplicity and speed of launch make it ideal for testing a paid newsletter concept.
Ghost is best for maximizing take-home revenue because it charges no percentage-based platform fee. You pay only for hosting ($29-$199/month) and standard payment processing. Once your revenue exceeds a few thousand dollars per month, Ghost's model lets you keep significantly more than percentage-based platforms.
Payment processing fees (2.9% + $0.30 per transaction) apply to all platforms and can't be avoided. With 1,000 subscribers at $10/month, you'll pay about $590/month in processing fees alone. These fees are charged by Stripe or similar payment processors, not by the newsletter platforms. They're separate from platform fees and reduce your net revenue on every tool.
No. While fees matter, also consider features, ease of use, growth tools, customer support, and time investment. A platform that costs slightly more but helps you grow faster or saves you hours per week may be worth it. Use fees as one factor in your decision, not the only factor. The best platform is the one that helps you build a sustainable paid newsletter business.
Yes, but it requires effort. You'll need to migrate your subscriber list, content archive, and payment relationships. Some platforms make this easier than others. Ghost and Beehiiv offer migration services from Substack. The difficulty of switching is one reason to choose carefully upfront, but it's not impossible to change platforms as your needs evolve.
Platform fees are typically the same whether subscribers pay monthly or annually. However, you save on payment processing fees with annual subscriptions because you're charged the per-transaction fee ($0.30) only once per year instead of twelve times. Annual subscriptions can improve your net revenue by reducing transaction fees and improving cash flow.
This depends on the platform. With Substack, you always retain access to your subscriber data and can export it. With Ghost (self-hosted), you fully own your subscriber list. With hosted platforms like Beehiiv, you can typically export your subscriber data before canceling. Always maintain your own backup of subscriber information and read each platform's terms regarding data portability.
Complete comparison guide for all platforms
Newsletter Platform FeesDetailed fee breakdown with real calculations
Substack vs BeehiivSimplicity vs growth tools comparison
Ghost vs SubstackRevenue maximization vs simplicity
Ghost vs BeehiivOwnership vs growth features
Patreon vs SubstackMemberships vs newsletters comparison
Platform pricing as of 2026. Always verify current rates with each platform.
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