How to Scale the Audience With Substack

It’s been nearly a decade since The New York Times launched its metered paywall, and its success has spurred just about every digital publisher to test out some form of reader revenue strategy. Many have followed in the Times’s footsteps and debuted metered paywalls. Others have rolled out various membership options, offering everything from behind-the-scenes footage to exclusive commenting features to convince readers to open their wallets.

But which tactics actually work? And how should publishers determine what to charge? To answer these questions, I spoke to Jacob Donnely. Donnely is the managing director of audience and growth at Coindesk, one of the leading cryptocurrency publishers, and runs his own paid newsletter about the publishing industry. We talked about how to design the perfect subscription offering and debated whether subscription fatigue is actually real.