Substack seems to be resisting the “winner takes all” economics of other platforms. Only 1% of YouTube creators make any money from their work, but payouts from Substack are distributed more widely.

This chart comes from Andrew Thompson, who believes Substack may be bringing back the “long tail” in culture—boosting a wide range of offerings, and not just huge mass market voices (see link below).

It’s still challenging for many creators here, but it’s encouraging to see a meaningful number of people find a pathway to monetization.

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