Substack has announced a new Creator Accelerator Fund to encourage video-based creators to migrate to its platform. The $20 million fund guarantee involves Substack promising to match the annual revenue creators made on competitor platforms.
“The creator economy is on the precipice of something new,” Substack said in a blog post. “The recent tumult of social platforms—facing bans, backlash, and policies that change with the political winds—has highlighted the challenges creators face: they cannot rely on social media alone to build their audience or their business. At Substack, we’re building what comes next.”
Recipients of the Fund will also receive a “white glove service” from a Substack’s Partnerships team member, who will guide them on “key launch moments” as they set up their publication. These creators will also get early access to beta features.
How Can I Apply To Substack’s Creator Accelerator Fund?
To apply for the Creator Accelerator Fund, you must be a US-based creator who has a monthly recurring revenue of at least $2,000.
Substack says that they’ll be reviewing applications on a rolling basis throughout the calendar year, or until all the spots are filled up,
The platform adds that it will be considering factors like publishing cadence, audience engagement, and creators’ interest in Substack’s growth network.
If successful, creators will need to close existing premium subscription-based accounts like Patreon and make Substack their main source of income.
