Changes to your Substack Gross Annualized Revenue

We’ve recently made some adjustments on how we calculate your publication’s GAR which you may have noticed on your Subscriber dashboard.

What causes my GAR to change?

If you or a paid subscriber have made changes to their subscription, this can affect your publication's GAR.

The following subscription changes are now recognized differently.

Extending a subscription period

A reader's $10/month subscription is ending on 1/31 but you've extended their subscription on 1/20 for 7 days at no cost to them.

  • Previous GAR calculation: The GAR for this reader would drop to $0 on 1/20 and be $0 until 1/27. On 1/28, the GAR would increase back to $10 until 2/7 (the original end date plus the extension period).
  • New GAR calculation: The GAR for this reader will stay $10 until the original end date on 1/31 and on 2/1 (when the extension starts) the GAR will drop to $0 until 2/7.

A refund occurs

A reader subscribes to a $10/month plan on 1/1 but cancels their subscription and you issue a refund on 1/10.

  • Previous GAR calculation: Prior to the refund on 1/10, the reader GAR would've been $10 between 1/1-1/9. Once a refund is processed, the GAR value would be retroactively changed to $0 between 1/1-1/9.
  • New GAR calculation: The reader GAR will be $10 between 1/1-1/9. Processing the refund will not affect historical numbers and the GAR value between 1/1-1/9 will remain $10. This will drop to $0 once the refund is processed.

Changes in the exchange rate

A reader subscribes to a plan on 1/1 and is charged in euros when the rate is 1 euro= 1.1 USD. They cancel their subscription and are refunded on 1/10 when the exchange rate is 1.2.

  • Previous GAR calculation: The refund’s USD value would be calculated using the exchange rate from the date the subscription was purchased. In this example, the value would be 1.1.
  • New GAR calculation: The refund’s USD value will be calculated using the exchange rate from the date the subscription is refunded. In this example, the value will be 1.2.

A reader changes their plan mid-subscription

A reader's $10/month subscription is ending on 1/31 but they upgrade to a $100/year plan on 1/20. 

  • Previous GAR calculation: The GAR for their original plan would continue to be counted until the end date on 1/31. The GAR for the new plan would also be counted after 1/20. The total GAR for this subscription would be $110 between 1/20-1/31.
  • New GAR calculation: The original plan will stop being included in the GAR once the reader changes their plan and only the new plan will be included. The GAR for this subscription will be $10 between 1/1-1/19 and increase to $100 on 1/20.
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