Substack: top highest earning newsletters 2023

The highest earning email newsletter on Substack was "Letters from an American", with implied minimum earnings of five million U.S. dollars in overall subscriber revenue. The best represented genre among the top-performing Substacks was politics.

Highest earning newsletters on Substack as of February 2023 (in thousand U.S. dollars)

Newsletter title - Author	Annual subscription cost in thousand U.S. dollars multiplied by minimum number of subscribers
Letters from an American - Heather Cox Richardson	5,000
The Pragmatic Engineer - Gergely Orosz	1,500
Lenny's Newsletter - Lenny Rachitsky	1,500
Bulwark+ - The Bulwark	1,000
The Fifth Column - The Fifth Column	1,000
The Free Press - Bari Weiss	800
Slow Boring - Matthew Yglesias	800
Tipping Point Prophecy Update - Jimmy Evans	770
House Inhabit - Jessica Reed Kraus	700
The Isolation Journals - Suleika Jaouad	600
Parent Data - Emily Oster	600
Unreported Truths - Alex Berenson	600
Blocked and Reported - Jesse Singal/Katie Herzog	550
Racket - Matt Taibbi	500
Dr Mercola's Censored Library - Dr Joseph Mercola	500
Culture Study - Anne Helen Petersen	500
a newsletter - Alison Roman	500
Your Local Epidemiologist - Katelyn Jetelina	500
The Weekly Dish - Andrew Sullivan	500
Popular Information - Judd Legum	500
Steady - Dan Rather	500
Who is Robert Malone - Robert W Malone	500
Proof - Seth Abramson	500
Robert Reich - Robert Reich	500
Steve Kirsch's newsletter - Steve Kirsch	500
The North Star - Shaun King	500
The Martyr Made Substack - Darryl Cooper	500

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Release date

February 2023

More information

Region

Worldwide

Survey time period

February 2023

Special properties

figures calculated by paid subscriber figures multiplied by annual subscription costs; figures do not include the 10 percent cut taken from writers by Substack or any additional deals

Supplementary notes

The source notes that Shaun King's "The North Star" was the only newsletter on the list which Substack reported to have only "thousands of" paid subscribers rather than "tens of thousands/hundreds of thousands of". The newsletter was included because it appeared above a newsletter with "tens of thousands" in Substack's leaderboard.

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