Substack cofounder Hamish McKenzie says the Substack network is “coming out of defensive mode” these days. “The numbers are still growing,” he tells joepompeo.
: “WordPress.com challenges Substack with launch of paid newsletters.” As Substack user and media writer, “Probably the biggest weakness of Substack is that, once a newsletter reaches a certain size, it’s incentivized to move off the platform to avoid the 10% fee. With WordPress, users will simply be able to upgrade and then eliminate the fee—thus WordPress doesn’t lose them as a customer.”to get a sense of how he views the emerging competition.
On that note, how is the Substack network doing these days overall? “We’re just coming out of defensive mode,” said McKenzie. “The numbers are still growing. It’s not the same as the rocket ship growth we saw during the pandemic, but I feel proud of the way we’re growing steadily despite the chaos of the current times and Elon trying to kill us and all the rest. Hopefully now the market will turn around and things will catch fire again.
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