Substack Writers at Work with Sarah Fay
Investor Due Diligence Report
substackBusiness
The art and business of real Substack growth—with the leading Substack Strategist, Sarah Fay.
37K
2.6K paid
~0%
Subscriber count is a platform estimate
Pricing
$12/mo
$110/yr annual option
$23K
2.6K paid subs
$23K/mo – $23K/mo(±0%)
4.1
43.5
0.13%
(comments + likes) / subscribers
Weekly
1.5 posts/week
52/100
Variable (~5.8d avg)
| Newsletter | Subscribers | Weekly Growth | Price | Platform |
|---|---|---|---|---|
| Founding Journey | 240K | N/A | $50/mo | substack |
| a16z speedrun | 202K | +4.0% | Free | substack |
| Refactoring | 173K | N/A | $15/mo | substack |
| Clouded Judgement | 87K | N/A | Free | substack |
| Month | Subscribers | Est. Revenue | Change |
|---|---|---|---|
| Feb 2026 | 36K | $22,717.8 | — |
| Mar 2026 | 37K | $23,348.85 | +2.8% |
| Apr 2026 | 37K | $23,348.85 | ~0% |
Platform Dependency
Uses substack platform
Publishing Consistency
Variable publishing frequency
Key Person
Single-author publication — key-person dependency
Revenue Model
Active paid subscription tier
Subscriber threshold
37K subscribers — above the 2K category median for first paid tier
Has paid tier
Active paid subscription offering
Peer monetization
100% of 115 similar-size peers in Business have paid tiers
Pricing position
$12/mo vs $7/mo category median (1519 newsletters)
| Date | Monthly | Annual |
|---|---|---|
| Mar 2026 | $12 | $110 |
Disclaimer: This report is generated automatically based on publicly available data and proprietary estimation models. Estimated subscriber counts are derived from engagement patterns and should be verified through direct disclosure. Revenue estimates are based on known pricing and estimated paid subscriber counts. This report is for informational purposes only and should not be the sole basis for investment decisions.
Score based on available components only.
| Component | Score | Weight |
|---|---|---|
| Engagement Rate | 49/100 | 30% |
| Paid Subscriber Ratio | 93/100 | 25% |
| Publishing Consistency | 46/100 | 10% |
| Secret Strategist |
| 78K |
| +0.7% |
| Free |
| substack |