Market Pricing Overview
| Platform | Free Tier | Entry Paid | Monetization Model |
|---|---|---|---|
| beehiiv | Launch: $0 (2,500 subs) | Scale: $49/mo (unlimited) | Ad network, paid subs, Boosts |
| Substack | $0 (unlimited subs) | 10% of paid sub revenue | Paid subscriptions (10% cut) |
| Kit (ConvertKit) | Newsletter: $0 (10,000 subs) | Creator: $39/mo | Kit Commerce, sponsors |
| Ghost | $0 (self-hosted only) | Starter: $18/mo (1,000 members) | Paid memberships (0% cut) |
| Buttondown | $0 (100 subs) | Basic: $9/mo (unlimited) | Paid subs (Standard $29/mo) |
| Mailchimp | $0 (250 contacts) | Essentials: $13/mo (500) | Marketing tool, not newsletter-native |
Key Trends in 2026
Newsletter-native platforms are winning
beehiiv, Substack, and Kit have captured the creator market by building features traditional email tools never offered: referral programs, ad networks, paid subscriptions, and creator profiles. General-purpose platforms like Mailchimp are losing newsletter creators to purpose-built alternatives.
Free tiers are getting more generous
Kit raised its free tier to 10,000 subscribers. beehiiv's Launch plan offers 2,500 subscribers with unlimited sends. Substack remains free to use (revenue share model). The barrier to starting a newsletter has never been lower.
Monetization is the differentiator
Every platform now competes on how creators make money. beehiiv offers an ad network and Boosts (paid recommendations). Substack takes 10% of paid subscriptions. Kit has Commerce for digital products. Ghost takes 0% of membership revenue. The revenue-share model is the key decision axis.
Mailchimp is no longer a newsletter tool
Mailchimp has evolved into a full marketing platform. Its pricing model (pay per contacts, starting at $13/mo for 500) makes it one of the most expensive options for newsletter creators. The shift is clear: Mailchimp is for marketing teams, not newsletter operators.
Recommendations by Use Case
Growth-focused newsletter operators
beehiiv — Ad network, referral program, SEO-optimized web pages, and Boosts for paid growth. Scale plan at $49/mo is the standard for serious newsletter businesses.
Writers who want simplicity and a built-in audience
Substack — Free to use, built-in reader network and mobile app, recommendation algorithm. The 10% revenue cut is the price for the discovery network.
Creators selling digital products
Kit (ConvertKit) — Free for 10,000 subscribers plus Kit Commerce for selling digital products directly. Best for creators who combine email with product sales.
Independent publishers who want full ownership
Ghost — Self-host for free or $18/mo managed. 0% revenue cut on paid memberships. Full control over branding, design, and data. Best for established publishers.
Developer/technical writers
Buttondown — Markdown-first, minimalist, API-friendly. Basic plan at $9/mo for unlimited subscribers. Built by a solo developer who prioritizes simplicity.
Frequently Asked Questions
Which platform has the best free tier?
Kit at 10,000 subscribers with unlimited sends is the most generous by volume. Substack is free with unlimited subscribers (10% revenue share on paid). beehiiv Launch is free for 2,500 subscribers with full features.
Which platform takes the lowest cut of revenue?
Ghost takes 0% — you keep all membership revenue (minus Stripe fees). beehiiv and Kit take no cut of subscription revenue. Substack takes 10% of all paid subscription revenue plus Stripe fees.
Should I still use Mailchimp for newsletters?
Probably not. Mailchimp's per-contact pricing ($13/mo for 500 contacts on Essentials) makes it one of the most expensive options. beehiiv, Kit, and Substack are all cheaper and more purpose-built for newsletters.
Is Substack's 10% cut worth it?
If you value the built-in reader network and discovery features, yes. Substack's recommendation algorithm and mobile app drive subscriber growth that other platforms don't offer. At $10,000/mo in revenue, the 10% cut is $1,000/mo — at that scale, the network effect needs to justify the cost.