Substack offers $20M creator accelerator fund to lure creators away from rivals

Substack is making a bold move to claim its spot as the ultimate creator haven. With TikTok’s future in doubt and Instagram’s shifting policies causing friction, creators are shopping for new platforms—and Substack wants to be their new home.

To sweeten the deal, the company has unveiled a $20 million Creator Accelerator Fund designed to eliminate the financial risk of switching platforms.

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Here’s how it works

If you’re a U.S.-based creator earning at least $2,000 a month in subscription revenue, Substack will guarantee your income while you transition to their platform. The pitch is simple: move your subscribers from Patreon, Supercast, or wherever they currently are, and Substack will make sure you don’t lose money in the process.

The company is also throwing in plenty of perks—like hands-on support to help with audience migration, strategic guidance from their partnerships team, and early access to beta features as part of their Product Lab. It’s a deliberate push to make the platform more than just a newsletter tool, framing it instead as a one-stop shop for creators.

Substack’s ambition to become a creator-first platform has been in the works for some time. In 2022, they ended a program called Substack Pro, which offered upfront cash to attract top media talent from traditional newsrooms. But this latest initiative is aimed at a broader audience, creators who have already proven their earning potential and are looking for a more robust ecosystem to grow their business.

The timing couldn’t be better for Substack. With TikTok under scrutiny in the U.S. and creators unsure of the app’s future, platforms like Meta and YouTube have been circling to scoop up displaced talent. Substack’s recent introduction of live video features shows it’s ready to compete in this space, too.

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TechloyEmmanuel Oyedeji

For creators wondering if it’s worth the leap, Substack’s message is clear: we’ll take the risk so you don’t have to. Applications for the fund are open now, and if Substack succeeds in pulling more big-name creators into its ecosystem, it could become the go-to destination for creators of all kinds.