Understanding Substack's built-in analytics
Substack provides analytics in three places: the Home page for high-level overview, individual post stats for per-article performance, and the Stats page for trends. The Home page shows gross annualized revenue, total subscribers, and paid subscribers. Individual posts show views, reads, open rate, and subscriber activity.
In 2025, Substack introduced Growth Reports that focus on three areas: unique visitors, new subscribers, and new revenue. These reports help you see where growth is coming from — the Substack app, direct traffic, recommendations from other writers, or external sources.
As of April 2026, nearly 100,000 publications earn money on Substack globally, double the number from May 2025. In 2025 alone, 32 million new subscribers came from within the Substack app itself. Understanding where your subscribers originate helps you decide where to invest your promotion effort.
- Check Growth Reports weekly to identify which channels (app, recommendations, external) drive your most valuable subscribers
- Compare open rates across articles to identify which topics your audience reads versus skims
- Track the gap between views and subscribers — high-view, low-conversion articles signal positioning issues