Substack is rolling out the red carpet for creators with a $20 million funding guarantee to help them switch over to its platform. The new Creator Accelerator Fund, announced Thursday, is designed to ease the transition for writers and other content creators who rely on subscription-based income.

Unlike other platforms that charge monthly fees, Substack takes a 10% cut of a newsletter’s earnings. To sweeten the deal, the company promises creators won’t lose any of their current revenue during the move. Plus, they’ll get hands-on support from Substack’s partnerships team and early access to beta features.

The timing couldn’t be better. With social media platforms like TikTok and Instagram facing uncertainty and criticism, many creators are looking for more stable options. Substack has been stepping up its game, adding features like live video to compete with social networks.

This initiative follows a successful pilot program that included creators like Sarah Stewart Holland and Beth Silvers, hosts of Pantsuit Politics. Since moving to Substack in October 2024, their community has grown to over 18,000 subscribers, including thousands of paying members.

To qualify for the fund, creators must be based in the U.S. and have a monthly recurring revenue of at least $2,000. Applications are now open online.

Substack’s latest move highlights its commitment to becoming a top choice for creators seeking financial stability and growth opportunities. Will this be enough to lure more talent away from other platforms? Only time will tell.