Jimmy's Jobs of the Future Hamish McKenzie | The Future of Media & Substack with its Co-Founder
Sep 9, 2025
Hamish McKenzie, co-founder of Substack and a media entrepreneur, dives into the platform's transformative impact on publishing. He discusses Substack's impressive growth with over 5 million paid subscriptions, the shift to multi-format content including audio and video, and the vital role AI may play in future media. Hamish also touches on the challenges of scaling in the UK, the importance of creator control over income, and how Substack aims to reshape journalism and free expression in a rapidly evolving landscape.
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Newsletter Simplicity Masks A Broader Channel
- Substack started as 'paid email newsletters' to make the product easy to grasp but is actually a multi-format channel.
- The platform is a direct audience relationship where creators own content and subscriptions.
Use Guarantees To Seed Creator Growth
- Use minimum guarantees plus revenue share to attract high-quality creators and jumpstart a network.
- Pair guarantees with a first-year revenue share, then revert to standard platform terms.
Subscription Incentives Raise Content Quality
- Substack aligns incentives: platform succeeds only when publishers succeed because revenue is shared.
- The subscription model applies upward pressure on quality and long-term audience retention.
