Ghost (Pro) vs Substack: real cost comparison

All-in monthly cost — platform fee, revenue share, and card processing — computed from each platform's own published pricing (last verified 2026-06-10).

Cost at three list sizes

ScenarioGross / moGhost (Pro)SubstackCheaper
Starting out — 1,000 subscribers, 50 paid at $8/mo$400$55.60/mo$69.40/moGhost (Pro)
Growing — 5,000 subscribers, 250 paid at $10/mo$2,500$346.50/mo$415/moGhost (Pro)
Established — 25,000 subscribers, 1,000 paid at $10/mo$10,000no eligible plan$1,660/mo—

Assumes monthly billing for every paid subscriber; platform fees use annual-billed rates where cheaper. Run your own numbers in the calculator.

Ghost (Pro)

  • Revenue share: 0%
  • Processing: Stripe 2.9% + $0.30
  • Paid plans: from $29/mo
Full Ghost (Pro) fee profile →

Substack

  • Revenue share: 10%
  • Processing: Stripe 2.9% + $0.30 + 0.7% recurring
  • Paid plans: free (platform monetizes via revenue share)
Full Substack fee profile →

Fine print that changes the math

  • Ghost (Pro): PARTIAL DATA: only yearly-billed prices were readable; monthly-billing prices and member-count slider brackets (prices rise with member count) need the scraper.
  • Ghost (Pro): Ghost is open source — self-hosting is $0 platform fee + infra cost, a comparison angle none of the hosted-only platforms have.
  • Ghost (Pro): Starter tier's paid-subscription support flagged as unsupported by the pricing page — needs verification before publishing.
  • Substack: Effective all-in cost on paid revenue is roughly 13-16% of gross once Stripe card + recurring billing fees are included.
  • Substack: Annual subscriptions incur fewer per-transaction fees than monthly ones, so all-in percentage varies with billing mix.

Frequently asked questions

Is Ghost (Pro) or Substack cheaper for a paid newsletter?

For a 5,000-subscriber list with 250 paid subscribers at $10/month ($2,500/month gross), Ghost (Pro) costs $346.50/month all-in versus $415/month — based on each platform's published pricing as of 2026-06-10. The cheaper platform flips at roughly $1,860/month in paid-subscription revenue.

What fees does Ghost (Pro) charge?

Ghost (Pro) takes 0% of paid-subscription revenue, with paid plans from $29/month (annual billing).

What fees does Substack charge?

Substack takes 10% of paid-subscription revenue, with no monthly platform fee.

At what revenue does Ghost (Pro)'s flat fee beat Substack's 10% cut?

Holding a 5,000-subscriber list at $10/month per subscriber, the flat fee wins above about $1,860/month in gross paid-subscription revenue (186 paid subscribers). Below that, Substack's pay-as-you-earn model costs less in absolute dollars.

Sources