As we move into 2025, content creators, independent writers, and publishers are increasingly seeking platforms that best support their goals—be it monetization, audience growth, or creative autonomy. Among the most talked-about options are Medium, Substack, and Ghost. Each offers a unique ecosystem, monetization model, and audience approach, making the decision of where to publish more strategic than ever before.
This article breaks down the pros and cons of these three platforms in 2025, analyzing their technical capabilities, business models, audience development tools, and long-term viability for writers and publishers.
Understanding the Platforms
Medium: The Editorial-Focused Ecosystem
Founded in 2012 by Twitter co-founder Evan Williams, Medium positions itself as a platform for thoughtful content. It blends a built-in audience with an editorial-curated feed similar to a publishing magazine. Medium uses a partner program that allows writers to earn money based on reading time from paying subscribers.
Pros:
- Built-in audience and distribution
- Clean user interface and easy publishing tools
- Partner Program for monetization
- Search engine visibility in Medium’s ecosystem
Cons:
- Limited brand control for individual creators
- Revenue tied directly to Medium subscribers, not your own
- Changes in platform strategy can affect creators without warning
Substack: The Newsletter Monetization Engine
Substack exploded in popularity during the content creator boom post-2020. It focuses on email newsletters as the primary publishing vehicle. Writers can offer paid subscriptions directly to readers, keeping 90% of the revenue. Substack’s minimalistic approach prioritizes the writer-reader connection and simplicity over customization.
Pros:
- Ownership of email list and audience
- Direct revenue through subscriptions
- No upfront costs for starting
- Community features like comments and threads
Cons:
- Limited design and branding flexibility
- Charges 10% commission on earnings, excluding payment processor fees
- Discoverability depends on promoting yourself—no major built-in audience
Ghost: The Customizable, Open Source Publishing Platform
Ghost is an open-source platform designed for developers, publishers, and serious content professionals. Launched as a nonprofit alternative to WordPress, Ghost allows creators to self-host or use Ghost(Pro) as a managed solution. It includes built-in email newsletters, subscription support, and deep customization for those with technical capabilities.
Pros:
- Full ownership of site, audience, and revenue
- Highly customizable design and features
- No platform commission—flat monthly hosting rates
- Open-source and extensible
Cons:
- Requires more technical knowledge or higher hosting fees
- No built-in audience—reliant on your own marketing
- Setup and management can be time-consuming
Monetization Comparison
One of the primary considerations for modern creators is how they can earn revenue from their work. Here’s how each platform stacks up in 2025:
- Medium: Monetization is based on reading time and subscriber engagement within Medium’s paywalled ecosystem. Writers get paid out of Medium’s shared revenue pool each month.
- Substack: Offers a straightforward 90/10 revenue share for paid subscriptions. Writers own their readers’ emails, giving them long-term stability and marketing freedom.
- Ghost: Has no commission structure. Writers pay a flat hosting fee (or self-host at a lower cost). All subscription revenue goes directly to the writer.
Audience Growth and Discoverability
This is where the platforms differentiate themselves significantly:
- Medium: Offers an editorial-style feed and recommendations, giving posts broad visibility if they resonate. Great for leveraging a native audience, but it’s hard to build personal reader relationships.
- Substack: Relies on own-your-list model. Discoverability is improving via Substack’s search and recommendations, but most growth still comes from outside promotion—social media, podcasts, etc.
- Ghost: Puts the entire responsibility of growth on the creator. With Ghost, you’ll benefit from SEO and total control but must invest in marketing and networking to build an audience.
Customization and Branding
Branding matters more than ever for creators who want to build lasting relationships with their readers. Here’s how each platform enables brand development:
- Medium: Offers limited branding control. Your article pages look elegant but follow Medium’s style guidelines.
- Substack: Allows for basic logo and typography customization but not much more. It’s enough for a solo newsletter but not ideal for media companies.
- Ghost: Is built for creators who care deeply about the user experience. From custom themes to advanced integrations, Ghost gives you full creative control.
Use Cases: Who Should Use What?
Choosing the right platform depends largely on your goals, technical ability, and desired business model:
- Choose Medium if your priority is exposure, you prefer focusing on writing only, and don’t want to manage infrastructure or audience building manually.
- Choose Substack if you’re building a personal brand through email, value owning your audience, and want to monetize directly with minimal technical burden.
- Choose Ghost if you need a full-fledged content site, want total control over everything, and are comfortable investing in setup and promotion.
Platform Future Outlook (2025 and Beyond)
In terms of longevity and innovation potential, the platforms show varying trajectories as of 2025:
- Medium: Continues to focus on quality journalism and niche curation. Expect stronger editorial partnerships and possibly greater incentives for top creators, though volatility in strategy persists.
- Substack: Is expanding its ecosystem with tools like Notes (a Twitter-like feed) and enhanced analytics. Expect more features to help creators manage communities and monetize beyond newsletters.
- Ghost: As an open-source platform, Ghost evolves based on user needs rather than shareholder demands. More integrations, performance improvements, and nonprofit transparency drive its reliability.
Final Verdict: It’s About Control vs Convenience
Each of these platforms addresses different creator archetypes. For those prioritizing ease of entry and built-in audiences, Medium remains a valuable choice. Writers focused on email marketing, community engagement, and direct monetization will continue to thrive on Substack. And those seeking ownership, branding, and long-term scalability should consider Ghost as their publishing foundation.
Ultimately, the best publishing platform in 2025 depends on whether you’re looking to plug into an existing system, foster direct reader relationships, or build your own digital empire from scratch.
Frequently Asked Questions (FAQ)
1. Is Medium still relevant in 2025?
Yes. Medium continues to attract a built-in audience and supports writers through its Partner Program. It’s particularly good for thought leadership and opinion pieces.
2. Which platform is best for monetization?
If you’re looking to maximize control and keep revenue, Ghost offers the most benefit. Substack is great for subscription-based monetization with a low barrier to entry. Medium is ideal for passive revenue through the platform’s members.
3. Can I migrate from one platform to another?
Yes. Most platforms provide export/import tools. Substack and Ghost are particularly easy to move into and out of, while Medium may require more manual effort during migration.
