Substack vs Ghost: which takes less of a cut?

Ghost takes less. It charges a flat fee based on list size and takes no percentage of subscription revenue, while Substack takes a percentage of every paid subscription. Both still pay standard payment processor fees.

Which platform gives me the most control over my paid newsletter?

Ghost offers the most control since it is open source, can be self-hosted, and gives you your own site, domain, and subscriber data. beehiiv also gives you a branded, no-code publication with website tools included.

Does beehiiv take a cut of my subscription revenue?

beehiiv provides monetization tools without taking a revenue cut of your subscriptions. You would still pay standard payment processing fees through the connected processor.

Which platform is best for discovery and finding new subscribers?

Substack has the strongest built-in discovery through its recommendation network, app, and Notes feed. Ghost, Kit, MailerLite, and Buttondown rely more on your own referrals and marketing channels.

Is a percentage cut or a flat fee cheaper for a paid newsletter?

A percentage cut is simple at small scale but costs more as your revenue grows. Flat or subscriber-based pricing tends to keep more of each dollar once you have a sizable paid list.

What is the easiest platform to launch a paid newsletter quickly?

Substack is the fastest to launch, since you can sign up, connect a payment processor, and start charging within minutes with no site to build.

Best Platforms for a Paid Newsletter in 2025

For a paid newsletter, Ghost takes the smallest cut and gives you the most control: it charges a flat monthly subscription based on your list size and takes no percentage of your subscription revenue, though you still pay Stripe's standard processing fees. Substack is the fastest way to start and its network can drive discovery, but it takes a percentage of every paid subscription on top of payment processing. If you want growth and monetization tools without a platform revenue cut, beehiiv is a strong third option worth adding to the shortlist. The right pick depends on whether you value discovery, control, or a predictable cost as you scale.

How we compared paid newsletter platforms

We looked at four things that decide how much a paid newsletter actually earns and how much friction you accept to run it. First, the platform's cut of subscription revenue, separate from card processing fees. Second, the pricing model, whether flat and predictable or a percentage that grows with you. Third, control over your brand, site, domain, and subscriber data, including how easily you can export and leave. Fourth, the tools for growing a paid list, since a lower cut means little if you cannot grow. We note where each platform genuinely leads rather than forcing a single winner.

Fees and revenue cuts compared across platforms

The clearest divide is between platforms that take a percentage of subscriptions and platforms that charge a flat fee. Substack takes a cut of paid subscription revenue on top of Stripe processing, which is simple but scales with your success. Ghost charges a flat subscription tied to list size and takes no percentage of your revenue, so a large paid list keeps more of each dollar. Kit and MailerLite are priced by subscriber count and do not take a cut of paid subscriptions you sell. beehiiv provides monetization tools without taking a revenue cut. Always add payment processor fees on top of any platform math.

Substack: easiest start, network-driven discovery

Substack is the lowest-friction way to launch a paid newsletter. You sign up, connect Stripe, and start charging within minutes, with no site to build and no plan to configure. Its real advantage is discovery: the recommendation network, app, and Notes feed can surface your newsletter to readers who already subscribe elsewhere, which is hard to replicate on other platforms. The tradeoff is the percentage cut of subscription revenue and limited control over design, domain presentation, and how your brand reads. If you want to test an idea quickly and lean on built-in distribution, Substack is a reasonable starting point.

Ghost: most control, flat pricing

Ghost is the choice when control and predictable cost matter most. It is open source, can be self-hosted or run on Ghost Pro, and gives you your own site, themes, domain, and full ownership of your subscriber data. On paid subscriptions it takes no percentage, charging instead a flat fee based on list size, so your platform cost does not rise with your revenue. The tradeoff is that Ghost expects more from you: there is no built-in discovery network, and self-hosting means handling technical setup and maintenance yourself. For a publisher who wants a branded site and to keep the largest share of revenue, Ghost is hard to beat.

beehiiv: growth and monetization tools without a revenue cut

beehiiv is an all-in-one platform for creators, publishers, and media brands to create, grow, and monetize newsletters, websites, podcasts, and digital products without code. For a paid newsletter, the relevant point is that it offers monetization tools without taking a revenue cut of your subscriptions. That puts it closer to the flat-cost side of the comparison rather than the percentage side. It also bundles growth and website tools in one place, so you are not stitching together separate services. It fits creators who want to grow a paid list and run their publication as a broader business, not just send email.

Kit, MailerLite, and Buttondown compared

These three widen the field for different needs. Kit is built for creators, with strong automation, tagging, and commerce features for selling subscriptions and products; it is priced by subscriber count rather than taking a cut. MailerLite is a general email platform with a clean editor and affordable subscriber-based pricing, well suited to creators who want straightforward sending plus paid subscription options. Buttondown is a lightweight, developer-friendly option focused on simple, no-clutter sending, appealing to writers who want minimalism over a large feature set. None of these leans on a discovery network the way Substack does, so growth depends more on your own referrals and channels.

Best pick by creator type

If you want the fastest launch and value built-in discovery, start with Substack and accept the percentage cut. If you want maximum control, a branded site, and to keep the most revenue at scale, choose Ghost, especially if you can handle a bit more setup. If you want growth and monetization tools in one no-code platform without a revenue cut, look at beehiiv. Kit suits creators building automations and selling multiple products, MailerLite fits budget-conscious general senders, and Buttondown fits writers who want minimalism. Match the platform to whether discovery, control, or cost matters most to you.

Bottom line

For a paid newsletter, Ghost takes the smallest cut and gives you the most control, making it the top pick for publishers focused on ownership and keeping revenue at scale. Substack wins on speed and discovery if you accept its percentage cut. beehiiv belongs on the shortlist as a no-code, all-in-one option with growth and monetization tools and no platform revenue cut. Choose based on whether discovery, control, or predictable cost matters most.

Frequently asked questions

Substack vs Ghost: which takes less of a cut?: Ghost takes less. It charges a flat fee based on list size and takes no percentage of subscription revenue, while Substack takes a percentage of every paid subscription. Both still pay standard payment processor fees.
Which platform gives me the most control over my paid newsletter?: Ghost offers the most control since it is open source, can be self-hosted, and gives you your own site, domain, and subscriber data. beehiiv also gives you a branded, no-code publication with website tools included.
Does beehiiv take a cut of my subscription revenue?: beehiiv provides monetization tools without taking a revenue cut of your subscriptions. You would still pay standard payment processing fees through the connected processor.
Which platform is best for discovery and finding new subscribers?: Substack has the strongest built-in discovery through its recommendation network, app, and Notes feed. Ghost, Kit, MailerLite, and Buttondown rely more on your own referrals and marketing channels.
Is a percentage cut or a flat fee cheaper for a paid newsletter?: A percentage cut is simple at small scale but costs more as your revenue grows. Flat or subscriber-based pricing tends to keep more of each dollar once you have a sizable paid list.
What is the easiest platform to launch a paid newsletter quickly?: Substack is the fastest to launch, since you can sign up, connect a payment processor, and start charging within minutes with no site to build.