Softwr

Email Marketing · head to head

Listmonk vs Substack

Listmonk logo

Listmonk

Email Marketing

Self-hosted newsletter and mailing list manager that ships as a single Go binary

From
Free
Rated
-
Full reviewWebsite
Substack logo

Substack

News

The newsletter platform for writers and publishers

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Listmonk it is not an email service provider. It hands mail to SMTP servers you configure and does nothing about IP warm-up, domain reputation, DKIM, DMARC or inbox placement, so deliverability failures are entirely yours to diagnose and fix.; Substack substack does not publish pricing on its public pricing page
  • They diverge on capability: Listmonk covers Single binary deployment, Substack covers Newsletter publishing.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Listmonk and Substack actually diverge.

Attributes where Listmonk and Substack differ
AttributeListmonkSubstack
Pricing modelOpen source, no licence feefreemium
PlatformsWeb, Self-hosted, Docker, Linux, macOS, WindowsWeb, Mobile
CategoryEmail MarketingNews
FoundedUnknown2017

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Listmonk

  • Single binary deployment
  • SQL segmentation
  • Multi-SMTP queues
  • Arbitrary subscriber attributes
  • Go templating
  • Transactional API
  • Bounce processing
  • Messenger webhooks

Only in Substack

  • Newsletter publishing
  • Subscriber management
  • Paid subscriptions
  • Email analytics
  • Post scheduling
  • Archive creation
  • Free/paid tier split
  • Comments & discussion

What people use each for

The jobs each tool is most often brought in to do.

Listmonk

  • A publisher with hundreds of thousands of subscribers faces a five-figure annual bill from a hosted provider and can send the same volume through Amazon SES for a fraction of it.not Substack
  • A developer wants campaign audiences defined by an arbitrary SQL query against subscriber attributes, which no hosted segment builder will express.not Substack
  • An organisation under privacy or data residency rules needs subscriber data to stay on infrastructure it controls, which rules out every hosted newsletter platform.not Substack
  • An open source project or nonprofit needs a mailing list tool with no per-subscriber cost, where the list will grow faster than any budget for it.not Substack

Substack

  • Newsletter distributionnot Listmonk
  • Reader monetizationnot Listmonk
  • Community buildingnot Listmonk
  • Subscriber managementnot Listmonk

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Listmonk

  • It is not an email service provider. It hands mail to SMTP servers you configure and does nothing about IP warm-up, domain reputation, DKIM, DMARC or inbox placement, so deliverability failures are entirely yours to diagnose and fix.
  • Running it means running PostgreSQL, backups, upgrades and a mail relay, and the true cost is the engineering time to keep that stack healthy rather than the zero licence fee.
  • The campaign editor and analytics are basic next to Mailchimp or Klaviyo: reporting is limited to opens, clicks and bounces, with no revenue attribution, no ecommerce integration and no deep engagement scoring.
  • SQL-based segmentation puts audience definition beyond a non-technical marketer, so a marketing team without engineering support will be blocked on routine tasks.
  • The AGPLv3 licence obliges you to release source modifications if you offer the software as a network service, which is a real constraint for anyone considering embedding it in a commercial product.

Substack

  • Substack does not publish pricing on its public pricing page

Pricing, plan by plan

Listmonk

Free
  • Self-hostedFree
    • Full AGPLv3 source
    • Unlimited subscribers and campaigns
    • No feature gating and no send limits in the software
  • Third-party managed hosting$undefined/month
    • Several unaffiliated providers offer hosted Listmonk
    • No official hosted service from the maintainer
    • Prices vary by provider and are not published centrally

Substack

Free
  • FreeFree
    • Unlimited newsletters
    • Basic design
    • Archive access
  • Pro$12/month
    • Custom domain
    • Advanced analytics
    • Member chat

Which should you pick?

Choose Listmonk if

  • You need single binary deployment.
  • You want to start without paying.
  • You work on Web, Self-hosted, Docker, Linux, macOS, Windows.
  • You also want sql segmentation.
Listmonk review

Choose Substack if

  • You need newsletter publishing.
  • You want to start without paying.
  • You work on Web, Mobile.
  • You also want subscriber management.
Substack review

Questions people ask

Is Listmonk or Substack better?
Neither clearly leads. Listmonk starts at Free and Substack at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Listmonk or Substack?
Listmonk starts at Free and Substack at Free.
Does Listmonk or Substack run on more platforms?
Listmonk runs on Web, Self-hosted, Docker, Linux, macOS, Windows. Substack runs on Web, Mobile.
Can I use Listmonk for free?
Both have a free tier, so you can try either at no cost before committing.
What is Listmonk best used for?
Listmonk is most often used for a publisher with hundreds of thousands of subscribers faces a five-figure annual bill from a hosted provider and can send the same volume through amazon ses for a fraction of it., a developer wants campaign audiences defined by an arbitrary sql query against subscriber attributes, which no hosted segment builder will express., an organisation under privacy or data residency rules needs subscriber data to stay on infrastructure it controls, which rules out every hosted newsletter platform., an open source project or nonprofit needs a mailing list tool with no per-subscriber cost, where the list will grow faster than any budget for it.. Of those, a publisher with hundreds of thousands of subscribers faces a five-figure annual bill from a hosted provider and can send the same volume through amazon ses for a fraction of it. and a developer wants campaign audiences defined by an arbitrary sql query against subscriber attributes, which no hosted segment builder will express. are not what Substack is typically brought in for.
What can Listmonk do that Substack cannot?
Listmonk covers Single binary deployment, SQL segmentation, Multi-SMTP queues, Arbitrary subscriber attributes. Substack covers Newsletter publishing, Subscriber management, Paid subscriptions, Email analytics.

Answered from the vendors’ own pages

Listmonk: Does Listmonk send my emails?

No. It composes, queues and tracks campaigns, then hands the messages to SMTP servers you provide, such as Amazon SES, Postmark or your own relay.

Substack: How much does Substack cost?

Substack does not publish rates on its pricing page. The site emphasizes earning potential for writers with the tagline Make money doing the work you believe in.

Source
Listmonk: What does it cost to run?

The software is free. The real cost is a small server, a PostgreSQL database and per-email SMTP charges, which through SES are a fraction of hosted newsletter pricing at large list sizes.

Listmonk: What licence is it under?

AGPLv3, which requires you to publish modifications if you offer it as a network service to others.

Listmonk: Is there an official hosted version?

No. Some unaffiliated providers offer managed Listmonk, but the maintainer does not run a hosted service.

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