Substack, once a bustling platform for writers, is losing ground to rivals like Ghost and Beehiiv. The main culprit? A hefty “tax” that dries up earnings as subscribers grow. Writers, like Sean Highkin of The Rose Garden Report, are switching to platforms offering more control and significantly lower costs.

Highkin notes a 22% increase in his subscriber base since the switch from Substack to Ghost. The platform’s 10% cut of subscription revenue means writers can earn less as their audience expands. Meanwhile, Ghost starts at just $15 per month for up to 1,000 members, making it more attractive.

The Ankler, a popular entertainment publication, is also making the move, shifting from Substack to Passport in search of greater flexibility and control. Its creators cite a ‘steadily enshittified’ platform as their reason. This isn’t just about money; it’s about autonomy and customization.

Substack launched with big promises but now faces stiff competition from platforms that offer more features, lower costs, and less restrictive ecosystems. Writers are voting with their feet, demanding more than just a newsletter— they want a full media company experience, minus the hefty fees.