Glenn Greenwald Making A Lot of Money From Substack

The rise of Substack is one of the few positive recent developments in media. Substack’s independent platform allows journalists to bypass out-of-touch, far-Left decision-makers and write freely. What’s more, top writers are making money doing it. A lot of money.

According to an estimate from the Financial Times on Wednesday, Glenn Greenwald, Substack’s most notable writer, makes between $80,000 and $160,000 in subscriptions every month and is set to make up to $2 million a year.

“Greenwald has between 20,000 and 40,000 paid subscribers to his newsletter, each contributing at least $5 a month,” Jemima Kelly reports. “Once Substack has taken its standard 10 percent cut, and after payment processing fees, I calculate that Greenwald is left with between $80,000 and $160,000 a month.”

Whether it’s closer to $80,000 a month or $160,000 — a large range — Greenwald didn’t deny the Financial Times’ estimate. In fact, he confirmed that “it’s a lot.”

“It’s obviously way more money than I’ve ever made in journalism before or than I ever thought I would make,” Greenwald says.

Greenwald claims that his subscribers are not necessarily paying for the content, but to support him. Greenwald puts just 10% of his writing behind a paywall and even opens that work up to everyone within 24 hours.

“They’re not paying because they’re getting something in return,” Greenwald said. “They’re paying because they want to support journalism that they think … needs to be heard.”

I found this stunning, assuming that his paywall content drives subscribers to pay.

Greenwald is making TV-like money on Substack. He deserves it, by the way. Since leaving The Intercept in October 2020, accusing the publication of “repression, censorship, and ideological homogeneity,” Greenwald’s Substack content has been some of the best stuff anywhere online.

Matt Yglesias is performing well on the platform too, with around 9,800 paying subscribers. Yglesias, however, took up-front money, which turned out to be a costly mistake:

Writers can make accounts on Substack and charge subscribers between $5 and $75 a month (don’t do $75). Not all content, as Greenwald shows, has to go behind the paywall either.

For smart, independent, fearless writers — this is a route worth exploring.

 

Written by Bobby Burack

Bobby Burack covers media, politics, and sports at OutKick.

9 Comments

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  1. The world needs more lefties like Glenn Greenwald and Tim Pool. And more, many more people who get their news from independent sources such as those two instead of the MSM and social media. The fact that someone being not insane is a selling point for consuming their news content shows just how dead journalism is today and how radioactive social media has made politics.

  2. Good for Glenn. While I disagree with him personally he’s one of the very few journalists left that will call honest balls and strikes on personal freedom regardless of the political affiliation of the person in power.

    As a young conservative I chafed at his warnings about the Patriot Act. He was right and I was wrong. His reporting on Edward Snowden has been the top journalistic effort of the 21st century and top five of the previous century. One of very few liberals that called the Russiagate framing of Trump. One of the few liberals that calls out big tech censorship and recognizes its danger. I don’t always agree with him but I will always stop and listen to what he has to say. Hopefully principled independent journalists like him will show a new generation that you don’t have to be a slave to the corporate media to get ahead.

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