PublisherRevenue Guide

The business behind
independent publishing.

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The publication / Image sources

The pictures, and their provenance.

Original product screens, publisher charts, campaign artwork and real photographs. Open any image to inspect its details and source.

Local visual preview: all assets remain pending owner review for permission, licensing or replacement before public release. Credit records provenance; it does not establish permission.

21 images

Ghost’s original diagram connects a publishing screen to web, RSS, email and social distribution.
Ghost’s distribution diagram, including an example publishing screen, from its 4 August 2025 release. It describes the vendor’s product design, not measured reach. Ghost ↗

Ghost

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
Ghost’s analytics dashboard shown in its release material.
The vendor’s analytics illustration from the Ghost 6.0 release. Displayed figures are demonstration data, not an independent publisher benchmark. Ghost ↗

Ghost

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
beehiiv’s Ad Network dashboard in its September 2023 announcement.
Original product visual from the 14 September 2023 announcement. Its example campaigns and numbers do not establish current offers or earnings. beehiiv ↗

beehiiv

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
An advertising opportunity screen from beehiiv’s announcement.
The opportunity interface as illustrated by beehiiv in September 2023. Commercial terms shown belong to the vendor’s example. beehiiv ↗

beehiiv

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
Advertising creative versions shown in beehiiv’s launch walkthrough.
Source screenshot: beehiiv’s creative-selection example in its 2023 walkthrough. It is not a campaign run by this publication. beehiiv ↗

beehiiv

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
Substack Notes launch artwork showing the Notes navigation icon.
Substack’s original Notes launch artwork, 11 April 2023. This records the product as presented at launch. Substack ↗

Substack

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
A Notes product example from Substack’s launch walkthrough.
Original example from the 11 April 2023 Notes launch post. This is the platform’s demonstration, not activity or measured results from this site. Substack ↗

Substack

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
The lead photograph accompanying Hell Gate’s 2025 annual report.
Original photograph from Hell Gate’s 29 September 2025 annual report; credited to Hell Gate on the source page. Hell Gate ↗

Hell Gate

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
Hell Gate’s published chart of monthly recurring subscription revenue.
Publisher-supplied MRR chart from the 2025 annual report. MRR is a recurring-revenue measure, not collected cash or profit; see the case for the promotion caveat. Hell Gate ↗

Hell Gate

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
An illustration of the Aftermath team against a pink background.
Publisher illustration currently displayed on Aftermath’s subscriber-goals page. Retrieved 16 September 2026; the page has been updated since its 7 April 2025 publication. The artwork’s creation date is not established. Aftermath ↗

Aftermath

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗
Three people holding print copies of the Bristol Cable in its campaign-success artwork.
Original campaign-success visual accompanying the Cable’s August 2024 announcement. Source credit: The Bristol Cable; no individual photographer or designer credit was stated. The Bristol Cable ↗

The Bristol Cable

Original publisher or product source asset. Permission, licensing or replacement remains pending owner review before release.

Retrieved 2026-09-16 / Owner review pending

Open local image ↗

A clearer view of the business

The Revenue Letter.

One useful model. One question worth asking.
A considered note for independent publishers.