Substack has been pulling out all the stops to entice video creators. The platform recently launched a $20 million Creator Accelerator Fund, which promised to match creators’ annual revenue from other platforms. Furthermore, back in January, it rolled out livestream capabilities for all users.
In its quest to court video creators, Substack has announced that creators will not only be able to monetize their videos on the platform but also publish video posts directly from the Substack app.
What Does This Mean for Creators?
Though creators could previously share videos in Notes, the feature lacked paywall support, preventing monetization. Furthermore, subscribers weren’t notified of new Notes, limiting their reach.
Previously, video Notes were limited to desktop publishing, hindering on-the-go content creation. The new video posts will offer creators performance tracking, including views, subscriber growth, and estimated revenue.
Should Creators Defect to Substack?
So, is it worth it? Stats from Substack reported by TechCrunch seem to suggest so. According to the publication, Substack said that creators who have added video and/or audio on Substack grow their revenue 2.5 times more than those who don’t. The platform also claims that more than half of its 250 most successful creators used audio and video in April 2024.
The number has since increased to 82%. In the last six months, Substack also said that the likelihood of video and audio audiences subscribing to other Substacks went from 52% to 150%.
So, when it comes to looking for a feasible alternative to TikTok, Substack should definitely be part of that conversation.
