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Substack is spending $20 million to court TikTokers
Substack sees an opportunity in TikTok’s potential disappearance
“We established this fund because we’ve seen creators who specialize in video, audio, and text expand their audience, revenue, and influence on Substack, where the platform’s network effects amplify the quality and impact of the work they’re doing,” the company said in a blog post. But creators focusing on Substack are also subject to ebbs and flows depending on what the company is prioritizing: first, it was newsletters, then it was tweet-like micro blogs, followed by full-on websites and livestreaming. Under a program called Substack Pro, the company poached top media talent from traditional newsrooms with higher pay, health insurance, and other perks.
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