Listmonk vs Substack
Listmonk and Substack are both popular choices in the newsletter platform space. Both are free. Both offer free plans to get started. Listmonk has the edge with advanced analytics, API access, a drag-and-drop editor.
Quick Verdict
Listmonk wins on deliverability, integrations.
Substack wins on rating.
Best for most users: Listmonk (developers).
Listmonk
Self-hosted newsletter and mailing list manager
Listmonk is a free, open-source, self-hosted newsletter and mailing list manager written in Go. It handles millions of emails with minimal resources and is best for developers and technical users who want full control over their email infrastructure.
Substack
The newsletter platform where writers build independent media businesses
Substack is the dominant newsletter platform that uniquely combines free publishing tools with a 10% revenue-share model, letting writers launch subscription-based media businesses with zero upfront cost. Beyond newsletters, it has evolved into a full creator ecosystem with podcasts, video, livestreaming, Notes (microblogging), and community Chat, backed by a powerful built-in discovery network that helps writers find audiences organically.
Feature Comparison
| Feature | Listmonk | Substack |
|---|---|---|
| Rating | 4.1/5 | 4.4/5 |
| Starting Price | Free | Free |
| Free Plan | Unlimited (self-hosted, open source) | Unlimited subscribers, unlimited emails, all core features free — Substack only charges when you earn |
| Founded | 2018 | 2017 |
| Email Templates | 5 | 1 |
| Integrations | 10 | 0 |
| Deliverability Rate | 97% | 95% |
| Marketing Automation | No | No |
| A/B Testing | No | No |
| Landing Pages | No | No |
| Segmentation | Yes | No |
| Drag & Drop Editor | Yes | No |
| SMS Marketing | No | No |
| Ecommerce Features | No | No |
| API Access | Yes | No |
| Multi-Language | Yes | No |
| Web Push Notifications | No | No |
| Live Chat | No | No |
| Advanced Analytics | Yes | No |
Listmonk: Pros & Cons
Pros
- + Completely free and open source with no usage limits
- + Handles 7+ million emails with minimal CPU and 57 MB RAM
- + Single binary deployment with Docker support
- + SQL-based subscriber segmentation for advanced querying
- + Zero recurring costs — self-hosted with no per-subscriber fees
Cons
- − Requires technical knowledge to set up and maintain
- − No built-in SMTP, must configure an external provider like Amazon SES
- − Lacks automation workflows, A/B testing, and landing pages
- − Community support only via GitHub
- − No managed hosting option — you handle server maintenance yourself
Substack: Pros & Cons
Pros
- + Completely free to start with no upfront costs — zero barrier to entry with all core publishing features available immediately
- + Built-in audience discovery network with Recommendations and Notes driving organic subscriber growth (users report gaining 1,000+ subscribers through Recommendations alone)
- + True content ownership: creators can export their full subscriber list and content at any time to migrate elsewhere
- + Multimedia platform supporting newsletters, podcasts, video, livestreaming, Notes, and Chat communities in a single integrated experience
- + Strong reader engagement with genuine community interaction through comments, Chat, and Notes — higher engagement rates than typical social media platforms
Cons
- − The 10% platform fee plus Stripe's ~2.9% + $0.30 per transaction creates a 13-16% total take rate that becomes very expensive at scale (e.g., $1,300-$1,600/month on $10K revenue)
- − No email marketing automation, segmentation, A/B testing, or advanced personalization — all subscribers receive identical emails with no conditional logic
- − No public API and zero native third-party integrations — cannot connect to CRMs, e-commerce platforms, Zapier, or other marketing tools
- − Limited design customization with a single standardized template — no drag-and-drop editor, no custom HTML, and minimal branding options
- − Platform can remove content or delete accounts without notice, and customer support is difficult to reach for issue resolution
The Verdict
Substack edges ahead with a 4.4/5 rating compared to Listmonk's 4.1/5. The gap comes mainly from ease of use (4.3 vs 3.5) and support (4.3 vs 3.7). On deliverability, Listmonk reports 97% compared to 95% for Substack — a meaningful difference if inbox placement is critical for your campaigns.
| Criterion | Weight | Listmonk | Substack |
|---|---|---|---|
| Starting Price | 30% | Free | Free |
| Deliverability | 25% | 97% Winner | 95% |
| Rating | 25% | 4.1/5 | 4.4/5 Winner |
| Integrations | 10% | 10 Winner | 0 |
| Free Tier | 10% | Yes | Yes |
Weights determine how much each criterion counts toward the final score. See full methodology
Choose Listmonk if…
- + You need API access for custom integrations
- + You need advanced analytics
- + You're a developers
- + You're a self hosters
Choose Substack if…
- + You're a independent writers and journalists
- + You're a newsletter creators monetizing through paid subscriptions
- + Completely free to start with no upfront costs — zero barrier to entry with all core publishing features available immediately