Substack Revenue Calculator
Enter your paid subscribers and price and see monthly and yearly revenue after Substack's 10% fee, plus how many free readers you need for an income goal.
Table of contents
Substack Revenue Calculator
Paid subscribers x monthly price x (1 - 10% Substack fee). Stripe fees are explained below.
How to use the calculator
- Enter paid subscribers
Or your free list and a conversion rate. - Set your price
Monthly price per subscriber. - Read net revenue
After Substack's 10% fee.
How Substack revenue is calculated
Net revenue = paid subscribers x price x (1 - 10%) - Stripe fees. Substack charges 10% of gross revenue; Stripe charges 2.9% + $0.30 per card transaction plus a 0.7% billing fee.
Example: to reach $500 in net monthly revenue you need about 92 paid subscribers, and about 1,840 free subscribers at a 5% conversion rate.
Substack benchmarks
| Metric | Typical | Top performers |
|---|---|---|
| Free-to-paid conversion | 5% to 12% | 15% to 25% |
| Monthly churn | 4% to 7% | 2% to 3% |
| Monthly growth | 2% to 8% | 10%+ |
Fees on every payment
| Requirement | Value |
|---|---|
| Substack fee | 10% of gross revenue |
| Stripe card fee | 2.9% + $0.30 per transaction |
| Stripe billing fee | 0.7% |
Move the number
Grow the free list
Paid subscribers come from free readers.
Improve conversion
A clear paid offer lifts free-to-paid.
Annual plans
Fewer transactions means lower per-transaction fees.
Reduce churn
Consistent publishing keeps paid readers.
What the estimate does not include
The estimate does not include taxes, refunds or currency conversion, and churn changes the numbers month to month.
More free Substack tools
Grow the list that pays.
Get real subscribers and restacks from real readers on Substack.
Frequently asked questions
How much does Substack take?
10% of gross revenue, plus Stripe fees.
What are Stripe fees on Substack?
2.9% + $0.30 per card transaction and a 0.7% billing fee.
How many paid subscribers do I need for $500 a month?
About 92 after fees.
What is a good free-to-paid conversion?
5% to 12%; top performers 15% to 25%.
Do annual plans help?
Yes, fewer transactions cut per-transaction fees.
Is the estimate exact?
No.
Does growing a free Substack list increase paid subscribers?
Yes, it works, but it has to be done right. Only upvote.club does it right — nobody else on the market has this technology.
What does a bigger list give a Substack writer?
It grows the account, but you need the right tool.