Substack Gains Traction as Journalists and Creators Embrace Platform
Substack is rapidly establishing itself as a leading destination for independent journalism and creative content, attracting high-profile figures such as former ABC News correspondent Terry Moran. Moran, who recently departed ABC after nearly 28 years, announced his move to Substack, emphasizing the platform’s potential for fostering meaningful engagement and nuanced reporting during turbulent times.
The platform’s momentum is underscored by recent financial achievements. Substack’s CEO revealed that the company reached cash flow positivity in the first quarter of 2025, a milestone attributed to the rollout of expanded app features, including video, live streaming, and audio content. These strategic investments have driven both user engagement and revenue, positioning Substack as a formidable player in the evolving landscape of independent media.
Substack’s appeal lies in its creator-friendly model, allowing writers to easily publish, monetize, and build direct relationships with their audiences. The platform has seen a surge in diverse voices, with writers like Zoe—known for thoughtful essays—and others exploring science and philosophy, rapidly climbing the ranks in their respective categories. In 2022, Substack reported over half a million paying subscribers, and the top 10 authors collectively earned more than $20 million annually, reflecting the platform’s growing influence and financial viability for creators.
Industry observers note that Substack’s rise is part of a broader shift toward direct-to-consumer media, empowering individual journalists and creators to monetize their work outside traditional institutions. As major media companies develop their own newsletter offerings to compete, Substack continues to innovate, focusing on tools that prioritize community, long-form content, and creator autonomy.
With its robust financial performance, expanding feature set, and growing roster of influential voices, Substack is poised to play a central role in shaping the future of digital publishing and independent journalism.