Online subscription math does not add up

Substack is becoming increasingly popular as a place for a wide range of commentary and information, often in what I would call "long form magazine style" writing, or basically longer articles with deeper dives into whatever the topic of the article happens to be.

However, most Substack sites are behind a paywall, and $60/year seems to be a very popular subscription fee. But if you are interested in several different sites/authors, at $60 a pop you can be spending hundreds of dollars a year very quickly. Most of these sites don't include any advertising (part of the appeal of Substack), so they are entirely supported by their subscribers. As this kind of approach to online publishing matures, it will be interesting to see which business model wins out in the end: many subscribers paying a small fee (e.g. $12/year), or a few subscribers paying a much larger fee (e.g. $60/year).

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