Can fashion journalism reinvent itself? As traditional media faces a crisis, journalists are turning to the paid newsletter platform Substack. The platform promises editorial independence and substantial revenue for the most astute writers.
Founded in the US in 2017, Substack is not a media outlet but a website. It allows users to subscribe to free or paid newsletters, which cost around six euros per month. The author then receives the income, minus a 10 percent commission.
Since 2021, Substack claims to have gained one million paid subscriptions annually, reaching a total of five million subscriptions in 2025.
The seemingly simple model relies on the author’s ability to build a loyal audience. Unlike a traditional media outlet, no salary is guaranteed. Instead, revenue depends directly on the number of paying subscribers.
Initially a niche platform, it first attracted some big names in American political journalism. Substack then extended its influence to other sectors such as economics, technology and, more surprisingly, fashion.
American fashion journalist Louis Pisano, who covers the inner workings of the industry from Paris, was approached in 2019 by the Substack Pro programme team.
“I immediately thought it was brilliant, like going back to the blog era of the 2000s,” he told AFP.
“Most importantly, it was finally a space where I would not have to worry about editors-in-chief or advertisers, two things I have had friction with in the past,” he continued.
His first piece, published in February 2025, was a long, revealing interview with a former employee of the controversial Kanye West’s clothing brand. This propelled his success.
Meritocracy
“The press pays poorly and magazines are losing their best writers, the ones who shaped the vision,” a fashion journalist who moved to the platform told AFP, requesting anonymity.
“The potential for growth is unlimited. If I create compelling content and the vision is right, I increase my subscriptions,” she said.
According to the company, the number of publications and subscriptions in the “fashion and beauty” sector has more than doubled each year since 2022.
“Fashion and beauty publishers collectively earn more than 10 million dollars per year from paid subscriptions to their Substack platforms,” the US company told AFP in a written statement.
For the price of a fashion magazine from a newsstand, where sales are falling, the public can subscribe to one of these newsletters. It seems unlikely, however, that they would subscribe to several.
“Substack is truly a meritocracy where users are in control. The subscription model rewards creators who respect their audience’s trust and attention. It can also help forge deeper connections than on other social media platforms,” she continued.
In the US, newsletters such as Big Salad by Joanna Goddard, The Love List by Jessica Graves and Shop Rat by Emilia Petrarca have become fully-fledged media outlets.
In France, Bénédicte Burguet Journé’s beauty, nutrition and personal development publication continues to climb the Substack rankings. Similarly, Inné’s fashion newsletter, which specialised in practical advice for copying looks, also enjoyed a period of success.
Independence
Neither Substack nor the authors contacted would disclose their exact earnings. The company does not release the number of subscriptions per publication. However, a simple calculation estimates that with 3,000 monthly subscriptions at an average of six euros, a “Substacker” earns around 200,000 euros per year.
New York-based author Jessica Graves offers both monetised links to products and in-depth analyses of the sociology of fashion trends. She reports earning “more than 275,000 dollars” with her “Love List”. This content has “survived for 20 years through all format changes”, from blogs and social media to its current newsletter format.
In Paris, journalist Louis Pisano claims he “lives better” from his paid newsletter, Discoursted, than from his freelance work.
“It is an eldorado, primarily because I no longer have to chase late payments,” he joked.
“You just have to look at what is happening with legacy traditional media. They are either dying, transforming into events agencies, or surviving solely to generate sensationalist clicks to reassure their advertisers,” he stated. He is convinced that “the future of journalism is independence”.
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