Substack and beehiiv take fundamentally different approaches to monetization. Substack keeps 10% of all revenue forever. beehiiv charges a flat monthly fee and takes 0%. The decision between them comes down to one number: your monthly revenue.
This guide focuses purely on the monetization math. For a full feature-by-feature comparison, see our beehiiv vs Substack head-to-head review.
Quick Verdict
Choose beehiiv if your newsletter earns over $430/month. Choose Substack if you are below that threshold or value built-in discovery over maximum revenue. The math is that simple — but the full picture is not.
The Revenue Models Explained
Substack model: 10% of everything forever
- $100 revenue = $90 to you, $10 to Substack
- $1,000 revenue = $900 to you, $100 to Substack
- $10,000 revenue = $9,000 to you, $1,000 to Substack
beehiiv model: 0% revenue cut
- $100 revenue = $100 to you, $0 to beehiiv
- $1,000 revenue = $1,000 to you, $0 to beehiiv
- $10,000 revenue = $10,000 to you, $0 to beehiiv
The beehiiv catch: You need the Scale plan ($43/month as of April 2026) to access monetization features. (Source: beehiiv pricing page)
The Break-Even Math
At what revenue does beehiiv make more sense than Substack?
Substack keeps 10% beehiiv keeps $43/month (flat fee)
Break-even point: $430/month in revenue
Below $430/month: Substack costs you less Above $430/month: beehiiv makes you more money
At $1,000/month:
- Substack: You keep $900
- beehiiv: You keep $957 ($1,000 - $43 fee)
At $5,000/month:
- Substack: You keep $4,500
- beehiiv: You keep $4,957
The gap widens as you grow. At scale, beehiiv saves you thousands per year.
But Revenue Cut Is Not The Whole Story
Substack Advantage: Network Effects
Substack has something beehiiv cannot match: built-in audience.
According to Substack's own reporting, roughly 50% of all subscriptions on the platform originate from within Substack itself (recommendations, discovery, cross-promotion). (Source: Substack Blog)
This means: Substack sends you subscribers you would not get elsewhere.
If your Substack growth is mostly organic network effects, leaving might hurt your growth — even if the math favors beehiiv.
beehiiv Advantage: Multiple Revenue Streams
Substack: Paid subscriptions only beehiiv: Paid subscriptions + ad network + Boosts + referral program
Ad Network: beehiiv's ad network allows creators with 2,500+ subscribers to earn CPM-based revenue from sponsored placements. Earnings vary by niche, but newsletter operators in business and tech verticals report meaningful supplemental income. (Source: beehiiv Ad Network docs)
Boosts: beehiiv's Boosts marketplace lets creators recommend other newsletters and earn per-referral. This is a revenue stream Substack does not offer. (Source: beehiiv Boosts)
The bottom line: beehiiv offers 3-4 independent revenue streams. Substack offers 1.
What Real Users Report
Substack Users
Common themes from Trustpilot reviews (1.3/5 rating):
- No human support (AI chatbot only)
- Cannot cancel via app
- Charges continue after cancellation in some cases
- Account suspensions without warning
- Export disabled when suspended
beehiiv Users
Common themes from Trustpilot reviews (3.9/5 rating):
- Better overall satisfaction
- Account suspensions before payouts reported in some cases
- No support on free plan
- Site builder has a learning curve
- Boosts qualification can be confusing
Both platforms have support limitations on free plans. But Substack users report significantly more billing and cancellation issues.
Monetization Feature Comparison
| Feature | Substack | beehiiv |
|---|---|---|
| Free tier | Unlimited subscribers | Up to 2,500 subscribers |
| Revenue cut | 10% | 0% |
| Ad network | No | Yes (Scale plan) |
| Referral program | No | Yes |
| Cross-promotion | Limited (recommendations) | Boosts marketplace |
| Custom branding | Limited | Full control |
| Analytics | Basic | Advanced |
| Support | Chatbot only | Chatbot only (free), Human (paid) |
| Website/builder | No | Yes |
| Export data | Yes (unless suspended) | Yes |
Who Should Choose Substack?
Substack is the right fit if:
- You are a pure writer (not a business owner)
- You value simplicity over control
- You want built-in discovery
- You are under $430/month in revenue
- You do not want to deal with tech setup
- You are okay giving up 10% forever
Substack is the "set it and forget it" option. Great for writers who hate business.
Who Should Choose beehiiv?
beehiiv is the right fit if:
- You are building a newsletter business
- You want multiple revenue streams
- You care about branding and customization
- You are over $430/month in revenue
- You want 0% revenue cut
- You are willing to learn a more complex platform
beehiiv is the "build something real" option. Great for entrepreneurs.
Migration Considerations
Migrating from Substack to beehiiv:
- Export your subscribers (do this before canceling)
- Set up beehiiv branding
- Import your archive (takes 2-8 hours typically)
- Email your list about the switch
- Expect 15-25% subscriber loss during migration
Staying on Substack:
- No migration needed
- Keep your network effects
- Keep 90% of revenue
- Deal with support limitations
The Decision Framework
Switch to beehiiv if:
- You earn over $430/month from subscriptions OR
- You want ad monetization OR
- You want referral program growth OR
- You want full branding control OR
- You are tired of paying 10% forever
Stay on Substack if:
- You earn under $430/month AND
- You value simplicity AND
- You want built-in discovery AND
- You do not want to manage a business
Bottom Line
The monetization math is clear: once your newsletter earns over $430/month, beehiiv's flat $43/month fee costs less than Substack's 10% revenue cut. Below that threshold, Substack is cheaper.
But money is not the only factor. Substack's built-in network effects can accelerate growth in ways beehiiv cannot match. And beehiiv's extra revenue streams (ads, Boosts) only matter if you have the subscriber base to monetize them.
For a complete feature comparison beyond monetization, see our full beehiiv vs Substack review.
The break-even number to remember: $430/month.