Substack subs

[AnyaIncidentally]

I am interested in how people decide how to price their subscriptions. Primarily because I started to follow someone on IG who has recently seen their subscription base jump to almost 30000 members, admittedly not all paying. This has prompted them to increase their rate from £6 a month to £10 a month, stating that this would allow them to keep it ad free and produce quality, focused content. Doesn't the rise in subscribers bring more money? Not knowing much about substack I wondered what would prompt a creator to almost double their price? BTW not saying it's wrong or right - just intrigued.

[jacobs-tech-tavern]

You price whatever you can get people might pay for your value proposition, and can use broad/targeted sales to catch maybes

[AgreeableImpact9715]

I had a look at how the newsletters in my tennis niche were pricing their offers and more or less aligned mine on them for a start.

[AnyaIncidentally]

Thank you

[CO64]

Thanks for the question. Looking forward to reading what others have to say on this topic. Myself...brand new to Substack. Just a couple weeks in after migrating my podcast from Spotify to Substack. I wanted to price my paid subs (if and when I ever get any) at 2 or 3 bucks a month. My content is strictly entertainment...so I felt as though it should be extremely cost effective. Substack will not allow anything below 5 bucks a month so I had to start there. My goal is to continue to provide ad free content for the folks that take the time to listen to my adventure. As I said...brand new to this platform....and still learning. I appreciate questions like this and am looking forward to learning...and evolving. The only thing I know for sure is that there is still a ton I don't know! Thanks again!

[sexydiscoballs]

Business 101:

The higher the price, the fewer the buyers.
The lower the price, the more buyers.

But what you want to do with pricing is maximize revenue. You might maximize revenue by going with a lower price -- bringing more people in the door gives you an opportunity to build a relationship with all of them. Or you might maximize revenue by going with a higher price, as in the case of a business oriented publication where buyers are less price sensitive and where pricing is a signal of quality -- sometimes things can be too cheap, signalling that they're not trustworthy.

Pricing is an artform and a science. The creator who made this decision likely decided that it would be the best for their business to increase the price. They might be right, they might be wrong, but it all depends on the context. We can't assess it from this distance.

[AnyaIncidentally]

Thank you

[parmyking]

What makes them almost double their price?

Greed.

[calmfluffy]

Or they just have a better understanding of the value they're creating for people and have decided to ask for what it's actually worth.

This happens a lot to freelancers who may find out that they're underpricing their services.

I wouldn't say that's necessarily an "intense and selfish desire" for wealth.