Some Substacks do not provide any information about their subscriber figures, or the information they provide produces a minimum annual revenue figure below £400,000 a year, but nonetheless on the Substack paid leaderboard they appear above a newsletter with minimum annual revenue above £400,000. In those cases, rather than using a minimum revenue figure, we present them here alongside the minimum revenue generated by the highest-ranked Substack below them in the leaderboard. All rankings correct as of 21 January 2025.
| The Free Press | Bari Weiss | US Politics | N/A | 4,000,000 | Letters From An American |
|---|---|---|---|---|---|
| ByteByteGo Newsletter | Alex Xu | Technology | N/A | 800,000 | Chamath Palihapitiya |
| Drop Site News | Drop Site News | World Politics | Thousands | 650,000 | Thinking about... |
| Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion | Adam Mancini | Finance | N/A | 600,000 | Capital Wars |
| Tic Toc's OrderFlow Newsletter | Tic Toc Trading | Finance | N/A | 600,000 | Capital Wars |
| PETITION | PETITION LLC | Finance | N/A | 580,000 | Eliant's Exploits |
| Jonah's Growth Stock Deep Dives | Jonah Lupton | Finance | Thousands | 580,000 | Eliant's Exploits |
| Reminiscences of a Shrub Operator | Le Shrub | Finance | Thousands | 580,000 | Eliant's Exploits |
| The Running of the Bulltards | James Bulltard | Finance | Hundreds | 580,000 | Eliant's Exploits |
| Capital Flows | Capital Flows | Finance | Hundreds | 580,000 | Eliant's Exploits |
| TMT Breakout | TMT Breakout | Finance | Hundreds | 580,000 | Eliant's Exploits |
| The Fifth Column (A Podcast) | The Fifth Column | Culture | Thousands | 480,000 | The Isolation Journals |
| The Status Kuo | Jay Kuo | US Politics | N/A | 480,000 | Proof |
| Today's Edition Newsletter | Robert B. Hubbell | US Politics | N/A | 480,000 | Proof |
| Sam Harris | Sam Harris | Culture | N/A | 480,000 | The Isolation Journals |
| Culture Study | Anne Helen Petersen | Culture | N/A | 440,000 | Blocked and Reported |
| Erin in the Morning | Erin Reed | US Politics | Thousands | 400,000 | Public Notice |
| News Not Noise | Jessica Yellin | US Politics | Thousands | 400,000 | Public Notice |