From Ghost Changelog (Ghost’s “product announcements & new features” site):

The next major version of Ghost has arrived, and our 6.0 release is packed full of more upgrades and improvements than you can shake a stick at.

The signature feature is integration with social networks (“discover, follow, like and reply to your posts across Bluesky, Flipboard, Threads, Mastodon, WordPress, Ghost”), plus a “native analytics suite” (just a couple of months after I ditched Google Analytics for Plausible), and—for those of us who self-host Ghost (hello!)—“a new official Docker Compose” environment (which should make it easier to deploy and manage).

I’ll be upgrading jagsworkshop.com to Ghost 6 once I’m able to fully test its features. Stay tuned for that.

Beyond the great new feature set though, what really caught my attention was their revenue:

When we announced Ghost 5.0 a few years ago, we were proud to share that Ghost’s revenue had hit $4M – while publisher earnings had surpassed $10M. It felt great to have such a clear sign that our goal to create a sustainable business model for independent creators was succeeding.

Today, Ghost’s annual revenue is over $8.5M while total publisher earnings on Ghost have now surpassed $100M.

Ghost is a not-for-profit organization. They have no venture capital investors to satisfy. They make money the way all good businesses should: by building a good product and charging a fair price for it. They do not, from what I can tell, promote Nazis.

Contrast this with its most well-known competitor, Substack, which is VC funded—it recently closed a $100 million round, valuing them at $1.1 billion—with an expected $45 million in annual revenue. And they definitely promote Nazis.

Substack pulls in 5.3x more revenue than Ghost ($45 million vs. $8.5 million) and is valued at $1.1 billion. So… congratulations to Ghost on their $200 million valuation!

(That’s how this works, right?)