Has Substack’s subscription model really “maxed out?”

Scott Carney and Taylor Lorenz posted on Substack about downward subscriber trends they’re seeing. Carney pins it on subscription fatigue and feeling like “The only way to grow is to pillage the paid subscribers from other creators.” Lorenz questions Substack’s direction, saying “more and more like this app is becoming another social media feed.” When we recently wrote about writers who are leaving Substack, they mentioned control, pricing, and the social feature creep among their reasons for choosing competitors like Ghost and Behiiv. [Link: Writers are fleeing the Substack Tax | https://www.theverge.com/tech/927294/substack-tax-ghost-beehiiv | The Verge]

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