Medium
Free to write / ~$5/mo membership to read
Substack
Free to start (10% of paid subscriptions)
Medium is a reading network where writers can earn through its member program but do not own the audience. Substack lets writers own an email list and charge subscriptions, taking a 10% cut. Medium wins on built-in discovery; Substack wins on audience ownership and subscriptions.
Pick Medium if you want exposure within a built-in reading network and to earn through its member program.
Pick Substack if you want to own your email list and charge subscriptions for your newsletter.
Medium and Substack are both popular places to publish writing, but they differ fundamentally on who owns the audience. Medium is a reading network: you publish into a large community and can earn through its Partner Program based on member reading, but you do not own your readers or their emails, and discovery is driven by Medium's algorithm. Substack flips that — you build and own an email list, publish newsletters directly to subscribers, and can charge for paid subscriptions, with Substack taking a 10% cut of paid revenue.
On cost, Medium is free to write (readers pay around $5 a month to read members-only stories), while Substack is free to start and takes 10% of paid subscriptions. The choice is mostly built-in discovery without ownership (Medium) versus owning your audience and charging subscriptions (Substack).
We compare audience ownership, monetization, discovery, newsletters, and fees.
| Quick facts | Medium | Substack |
|---|---|---|
| Audience ownership | Limited | Best-in-class |
| Built-in discovery | Best-in-class | Strong |
| Monetization | Member program | Paid subscriptions |
| Platform cut | Revenue share | 10% of paid subs |
| Best for | Exposure / reading network | Owning audience + subs |
Each row reflects the feature on each product's current public release.
| Feature | M Medium | S Substack |
|---|---|---|
| Own your email list | No | Yes |
| Built-in reading network | Best-in-class | Strong |
| Paid subscriptions | Member program | Best-in-class |
| Native newsletters | Good | Best-in-class |
| Algorithmic discovery | Best-in-class | Good |
| Portability of audience | Limited | Best-in-class |
| Free to start | Yes | Yes |
| Direct reader relationship | Limited | Best-in-class |
Pricing and features change often. Always verify the current details on each product's official site. Last reviewed 2026-06-26.
Things neither product's marketing page leads with.
Medium offers built-in discovery and a reading audience, but you do not own your readers and earnings depend on its program.
Substack lets you own your audience and charge subscriptions, but it takes a 10% cut and you bring more of your own audience.
For exposure Medium can help; for building a business you own Substack wins.
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