Substack vs Beehiiv vs Ghost: Which Should You Pick?
Substack vs Beehiiv vs Ghost compared on fees, pricing and ownership, so you can pick a newsletter platform that fits your stage and avoid a painful move later.
If you want the shortest path to a first paying reader, start on Substack. If you want growth tools and ad networks built in, look at Beehiiv. If you want to own the stack and keep every dollar apart from card fees, pick Ghost. The right answer depends less on features and more on how you plan to earn.
Here is how the three differ where it hurts or helps: fees, price as your list grows, and how easy it is to leave.
How do the fees compare?
Fees are the first thing founders get wrong, because the headline price rarely tells the story.
Substack is free to start. According to its own help page on costs, it takes 10% of paid subscription revenue, and Stripe adds its own processing charges on top (roughly 2.9% + $0.30 per US card payment, plus a Stripe Billing fee reported at 0.7%). If you never charge readers, you pay Substack nothing.
Ghost charges for hosting, not for your revenue. On Ghost(Pro) pricing, the Publisher plan is listed at $29 a month billed yearly for 1,000 members, and there are no Ghost transaction fees on Publisher and above. Stripe still takes its cut. Third-party reviews say the cheaper Starter plan is capped and does charge a platform fee, so a paid newsletter is better off on Publisher or higher. Check the live pricing page.
Beehiiv has a free plan for up to 2,500 subscribers and charges monthly for paid plans that scale with list size. It changed plan names and prices this month, which we cover in our Beehiiv pricing update.
A quick way to run the math
Pick the number of paying readers you expect in a year and the price they pay. Then compare 10% of that revenue (Substack) with a flat hosting bill (Ghost or Beehiiv). Example: 10% of revenue equals Ghost's $29 hosting fee at about $290 a month in subscription income. Below that, a percentage costs less. Above it, flat pricing wins. Card fees apply either way, and prices change, so rerun this with your own numbers.
Which one is easiest to start?
Substack. You sign up, write, and publish. Readers can discover you inside its network, which no other option here replicates in the same way.
Beehiiv sits in the middle. It has a polished editor, a free tier and built-in growth features, but you configure more.
Ghost is the most hands-on. You choose a plan or self-host, pick a theme and set up your own domain and email sending. In return you get a proper website with a newsletter attached, not a newsletter with a thin page behind it.
Which one gives you the most control?
Ghost is open source, so you can host it yourself or move hosts, which keeps you less tied to one vendor. That matters if you think the newsletter may grow into a media brand.
On Substack, part of your audience comes through its own network and app, which is useful early and a tie later. Beehiiv is a hosted platform too, so check its current domain and export options before you commit.
Whatever you choose, do one thing from day one: use a custom domain and keep a copy of your subscriber list.
What about sponsorships and ads?
If you plan to sell sponsorships, check whether the platform has native ad tools and whether you can run direct deals. Selling placements yourself keeps the relationship with the advertiser, and you can list your inventory on Woodander Market to reach advertisers directly. We would not choose a platform for its ad network alone, because networks change terms.
Which one should you choose?
| If you are... | Start with |
|---|---|
| Testing an idea, no budget | Substack free, or Beehiiv free |
| Building a paid newsletter with a small audience | Substack |
| Treating the newsletter as a growth channel with referrals | Beehiiv |
| Building a brand with a site, members and your own domain | Ghost |
We would not agonize. Pick one, publish for 90 days, and look at your open rate, replies and first paid conversions. Switching later gets harder as the list grows, so test early.
If you are launching a product alongside the newsletter, add it to Discover so new readers can find it, and browse more writing and newsletter coverage from Woodander Media.
FAQ
Is Substack free?
Yes, until you charge readers. After that it keeps 10% of paid revenue, and Stripe fees apply separately.
Is Ghost better than Substack?
Ghost suits you if you want ownership and a full website, and you are fine paying for hosting. Substack suits you if you want the lowest setup effort and built-in discovery.
Can I move my newsletter later?
Usually yes, but check each platform's export tools and how paid subscriptions transfer through Stripe before you move.
Do I need a paid plan to start?
No. Substack and Beehiiv both have free options. Ghost(Pro) is paid, unless you self-host.
