What This Calculator Computes
Every paid newsletter platform deducts fees before money reaches your bank account. The challenge: Substack charges a percentage of every dollar you earn, while Beehiiv and Ghost charge a flat monthly plan fee but take nothing extra. Kit sits in between with a bundled per-transaction fee.
This means there's a crossover revenue point where the flat-fee platforms become cheaper — and this calculator finds it for your exact subscription price and subscriber count.
Fee Structure Used (Sources: Platform Pricing Pages)
SUBSTACK
Platform cut: 10% of gross revenue
Stripe processing: 2.9% + $0.30 per transaction
Stripe recurring: 0.7% per recurring billing
Monthly plan cost: $0 (no plan fee)
Total effective: ~13.6% + $0.30 per transaction
BEEHIIV
Platform cut: 0% of revenue
Stripe processing: 2.9% + $0.30 per transaction
Monthly plan cost: editable (default $49/mo, Scale plan)
GHOST(PRO)
Platform cut: 0% of revenue
Stripe processing: 2.9% + $0.30 per transaction
Monthly plan cost: editable (default $29/mo, Starter)
KIT (ConvertKit)
Platform cut: 0%
Bundled fee: 3.5% + $0.30 per transaction
Monthly plan cost: editable (default $0, Creator free plan)
ALL: Billable weight = MAX(actual, DIM) charged per subscriber per cycle
How to Use This Calculator
- Enter your subscription price — the amount subscribers pay per billing cycle.
- Choose monthly or annual billing. Annual billing saves on per-transaction Stripe fees; monthly is the default for most new newsletters.
- Enter your paid subscriber count — current or projected. Try different growth scenarios.
- Set your churn rate — typical paid newsletters lose 2–8% of subscribers monthly. This affects your net annual revenue projection.
- Adjust plan costs if your Beehiiv, Ghost, or Kit plan differs from the defaults shown.
- Read the crossover section to see the exact monthly revenue at which each alternative beats Substack.
Understanding the Crossover Point
The crossover point is the monthly gross revenue at which a flat-fee platform (Beehiiv, Ghost) costs the same as Substack's 10% cut. Below this figure, Substack's zero-plan-cost model actually costs less in total fees. Above it, the flat-fee platforms save you money every month.
For example: if your Beehiiv plan costs $49/month, the crossover happens at $490/month gross revenue (because 10% × $490 = $49). Above $490/month, Beehiiv is cheaper. At $2,000/month, Substack costs $200 in platform fees versus $49 for Beehiiv — a $151 monthly saving.
Annual Billing vs Monthly Billing
Stripe charges a $0.30 fixed fee per transaction in addition to its percentage. Monthly billing means 12 transactions per subscriber per year ($3.60 in fixed fees). Annual billing means 1 transaction ($0.30). On a $100/year subscription, this fixed-fee saving equals 3.3% of revenue — meaningful at scale.
Most creators offer both options. Annual subscribers also tend to churn less because the psychological commitment is higher and there's no monthly renewal decision.
When Substack Is Still the Right Choice
If your newsletter earns less than ~$200–500/month in subscription revenue, Substack's zero plan cost means you pay fewer total dollars in fees than you would paying a $29–49/month flat plan. The crossover happens fast once you grow, but beginners benefit from Substack's no-upfront-cost model. Substack also offers built-in discovery and recommendations that can drive organic subscriber growth — a value the fee calculation alone doesn't capture.
Disclaimer
Fee structures are based on publicly available platform pricing and Stripe's standard rates as of 2025–2026. Stripe rates may vary by account, country, and card type. Platform plans may change — verify current pricing directly on each platform's pricing page before making migration decisions. This calculator is an estimate for planning purposes only, not financial advice.
Frequently Asked Questions
What fees does Substack charge on paid subscriptions?
Substack charges a 10% platform revenue share on every paid subscription. On top of that, Stripe charges 2.9% + $0.30 per transaction plus a 0.7% recurring billing fee. So on a $10/month subscriber, the total deductions are roughly $1.36, leaving you about $8.64. There is no monthly plan fee on Substack — you only pay when you earn. This makes Substack genuinely free to start, but increasingly expensive at scale.
Does Beehiiv take a percentage of subscription revenue?
No. Beehiiv charges 0% platform revenue share. You keep 100% of subscription revenue minus only Stripe's processing fees (2.9% + $0.30 per transaction). However, paid subscriptions require the Scale plan, which starts at $49/month for up to 1,000 subscribers. As your list grows, the plan cost increases. This flat monthly cost replaces Substack's percentage cut and becomes cheaper once your revenue crosses the crossover threshold.
At what monthly revenue does Beehiiv become cheaper than Substack?
It depends on your Beehiiv plan cost. At the Scale plan ($49/month), Beehiiv's 0% revenue share beats Substack's 10% cut once your monthly subscription revenue exceeds $490. At $500/month, Substack takes $50 in platform fees vs Beehiiv's $49 flat plan — already past crossover. The calculator above computes the exact figure for your subscription price and subscriber count.
What fees does Ghost charge for paid newsletter subscriptions?
Ghost(Pro) charges 0% on subscription revenue. You pay a flat monthly plan fee (Starter: ~$29/month for up to 1,000 members; Creator: ~$49/month for up to 5,000) plus Stripe's standard 2.9% + $0.30 per transaction. Ghost takes no percentage cut of your subscription revenue. Self-hosted Ghost has no plan fee at all, but requires server setup and maintenance.
How does Kit (ConvertKit) charge for paid subscriptions?
Kit (formerly ConvertKit) charges a bundled transaction fee of 3.5% + $0.30 per paid subscription on its free Creator plan — no monthly platform fee. This sits between Substack's 10% and Beehiiv/Ghost's 0% models. At low revenue levels (under ~$400–500/month), Kit's free-plan model can be the cheapest option because there is no flat monthly plan cost to cover first.
Should I bill subscribers monthly or annually?
Annual billing reduces per-transaction Stripe fees: instead of 12 × $0.30 = $3.60/year, you pay $0.30 once. This saves 3–5% of the per-subscriber fee stack at typical price points. Annual subscribers also churn less because there's no monthly renewal decision. Most creators price annual plans at a 16–20% discount (e.g., $10/month or $100/year). Use the billing toggle in the calculator to compare both scenarios at your price point.
Is Substack worth it for small newsletters?
Yes, at early stages. With zero plan cost, Substack charges nothing on free newsletters and only takes its 10% cut when subscribers pay. If your newsletter earns $100/month, you pay $10 in platform fees — far less than a $29–49/month flat plan. Substack also offers built-in discovery and recommendations that can drive organic growth. The math flips as you scale past $300–500/month in subscription revenue.
What happens to my earnings if subscribers cancel (churn)?
Churn reduces your paid subscriber count monthly, compounding over time. A 5% monthly churn means you lose roughly 5 of every 100 paid subscribers each month. After 6 months at 5% churn with no new subscribers, your base shrinks to about 74% of its original size. The annual projection table in the calculator accounts for churn to show realistic 12-month net revenue, helping you plan growth targets to offset it.