Beehiiv vs Substack Monetisation 2026 — Which Pays More?

Both platforms allow newsletter monetisation — but the fee structures and monetisation tools differ significantly. Here's which platform keeps more money in your pocket.

Revenue share: the critical difference

Substack takes 10% of all paid subscription revenue, in perpetuity. On top of that, Stripe takes ~3% for payment processing. So on a $10/month subscriber, you keep approximately $8.70.

Beehiiv takes 0% of subscription revenue. Stripe still takes ~3%, but Beehiiv keeps nothing. On the same $10/month subscriber, you keep approximately $9.70.

At 100 paid subscribers at $10/month: Substack costs you $120/month extra vs Beehiiv. At 1,000 paid subscribers, that's $1,200/month — $14,400/year — going to Substack vs $0 to Beehiiv.

Beehiiv's ad network

Beehiiv has a built-in ad network where brands pay to be featured in your newsletter. With 1,000+ engaged subscribers, you can earn $50–$500+ per issue from the ad network without finding sponsors yourself.

Substack has no equivalent ad network. Monetisation is almost entirely through paid subscriptions.

For newsletters that want to stay free while generating revenue, Beehiiv's ad network is a significant advantage.

Sponsorship and brand deals

Both platforms support custom sponsorships — you negotiate a deal with a brand and feature them in your newsletter. Neither platform takes a cut of direct sponsorship deals.

Beehiiv has a Sponsorship Marketplace where brands find newsletters to sponsor. This reduces the time you spend prospecting for sponsors — brands come to you once you're listed.

Substack has no equivalent sponsorship marketplace.

Which platform for which monetisation model

Paid subscriptions (charging readers monthly/annually): Beehiiv wins on revenue share (0% vs Substack's 10%). The difference is enormous at scale.

Ad-supported free newsletter: Beehiiv wins — it has the built-in ad network. Substack has no equivalent.

Sponsorship-based newsletter: Both are roughly equal for direct deals. Beehiiv wins on the marketplace feature.

In almost every monetisation model, Beehiiv's economics are better for the creator.

The monetisation verdict

If you plan to charge readers: Beehiiv. The math is unambiguous — keeping 100% vs 90% of subscription revenue compounds dramatically at scale.

If you plan to stay free and monetise through ads/sponsors: Beehiiv — it has the ad network, Substack doesn't.

If you're uncertain whether you'll ever monetise: either platform works. But why start on a platform that takes 10% when you eventually do monetise?