As we detailed in a story yesterday, Substack is doling out fewer perks to writers, including cutting a healthcare subsidy offered to some top names and paring back how frequently it offers upfront cash advances to potential writers. It’s also “not being as aggressive” in offering other services designed to draw in and support writers, ranging from access to copy-editing to legal assistance.
As part of my reporting, I spoke with Hamish McKenzie, Substack’s co-founder. He outlined a strategy that leans more on revenue-generating tools for writers, and pares some of the flashier recruitment pitches. It’s one that I expect other creator services companies to test this year, as they cool spending.