As writers, we all want to get paid for our work. So, it’s only natural to wonder if Medium publications make money. The answer is yes; Medium publications can make money. However, it’s not as simple as just starting a publication and waiting for the money to roll in.
Most Medium publications don’t make money. That’s the truth. But that doesn’t mean you can’t make a Medium publication that eventually gets monetized. There are a few ways to make money on Medium, but it takes time, effort, and a bit of strategy. In this article, we’ll explore the ways Medium publications can make money and what you can do to increase your chances of success.
Understanding Medium Publications
Medium is a platform that allows writers to publish articles and earn money from their writing. Medium publications are collections of articles that are curated by editors and organized around a specific topic or theme. These publications can be created by anyone, including individuals, organizations, and companies.
When it comes to monetizing Medium publications, there are a few different methods that can be used. One common approach is to participate in the Medium Partner Program, which allows writers to earn money based on the number of claps their articles receive. Claps are a way for readers to show appreciation for an article, and each clap translates to a small amount of money.
Another way that Medium publications can make money is through sponsored content. This is when a company pays a publication to feature an article that promotes their product or service. Sponsored content can be a lucrative way for publications to earn money, but it can also be controversial if the content is not clearly labeled as sponsored.
Medium publications can also earn money by selling access to their content. This can be done through a paywall, where readers must pay a subscription fee to access the publication’s articles. Alternatively, publications can offer premium content or services to their subscribers, such as exclusive articles or access to a private community.
Overall, Medium publications can be a great way for writers and organizations to build an audience and earn money from their writing. By understanding the different monetization methods available, it’s possible to create a sustainable revenue stream from Medium publications.
How Medium Publications Make Money
At Medium, we provide a platform for writers to share their stories and ideas with readers across the globe. But how do we make money? Here are a few ways:
Partner Program
Our Partner Program allows writers to earn money for their content. When a reader subscribes to Medium, a portion of their subscription fee goes towards the writers they read the most. As a writer, you can earn money based on the engagement your stories receive, such as claps, reads, and shares. We pay writers through Stripe, and you can set up your payment information in your account settings.
Membership Fees
Another way we make money is through our membership fees. Readers can subscribe to Medium for unlimited access to stories and exclusive content. This allows us to continue providing a platform for writers and readers to connect. As a writer, you can benefit from this by creating engaging content that encourages readers to subscribe.
Sponsored Stories
We also offer sponsored stories, which are paid articles written by brands or companies. These articles are labeled as sponsored content and are subject to our editorial guidelines. As a writer, you can pitch ideas for sponsored stories to our editorial team or work with a brand directly.
At Medium, we strive to provide a platform that benefits both writers and readers. By offering a variety of ways to make money, we hope to continue fostering a community of passionate writers and engaged readers.
Benefits of Making Money Through Medium
Passive Income
Making money through Medium can provide us with a passive income stream. By publishing content on Medium and opting in to the Medium Partner Program, we can earn money every time a reader subscribes to read our content. Additionally, the more claps our stories receive, the more money we can earn. This means that even if we only publish a few stories, we can still earn money over time as readers discover and engage with our content.
Audience Reach
Medium has a large and engaged audience, which means that publishing content on the platform can help us reach a wider audience than we might be able to reach on our own. By publishing on Medium, we can tap into the platform’s existing user base and potentially gain new followers and readers. This can be especially beneficial for writers who are just starting out and looking to build their audience.
Credibility Boost
Publishing on Medium can also help us establish credibility and authority in our field. When we publish high-quality content on the platform, we can demonstrate our expertise and knowledge to readers and potential clients. Additionally, being published on Medium can help us build our portfolio and showcase our writing skills to a wider audience.
Overall, making money through Medium can provide us with a range of benefits, from earning a passive income to reaching a wider audience and establishing credibility in our field. By taking advantage of the Medium Partner Program and publishing high-quality content on the platform, we can potentially earn money while also building our reputation and growing our audience.
Challenges in Making Money Through Medium
Competition
Making money through Medium can be challenging due to the high level of competition. With so many writers and publications on the platform, it can be difficult to stand out and gain a following. This can make it harder to get your articles noticed and to receive the engagement necessary to earn money through the platform.
To overcome this challenge, we need to focus on creating high-quality content that is unique and valuable to our target audience. By providing valuable insights and perspectives, we can differentiate ourselves from other writers on the platform and attract a loyal following.
Content Quality
Another challenge in making money through Medium is maintaining a high level of content quality. With so many writers and publications on the platform, it can be tempting to publish low-quality content in order to quickly produce more articles. However, this can lead to a decrease in engagement and a loss of followers.
To overcome this challenge, we need to prioritize quality over quantity. By taking the time to research and write high-quality articles, we can attract and retain a loyal following that will engage with our content and help us earn money through the platform.
Audience Engagement
Finally, audience engagement can be a challenge when it comes to making money through Medium. Even if we produce high-quality content, it can be difficult to get readers to engage with our articles and to earn money through the platform.
To overcome this challenge, we need to focus on building an engaged and loyal audience. This can be done by interacting with readers in the comments section, promoting our articles on social media, and engaging with other writers and publications on the platform. By building a community around our content, we can increase engagement and earn more money through Medium.
Successful Examples of Money-Making Medium Publications
We’ve seen that Medium publications can make money through various methods such as sponsored content, paywalls, and membership programs. But which publications have been the most successful at monetizing their content on Medium? Let’s take a look at a few examples:
Marker
Marker is a publication that covers business, startups, and entrepreneurship. They have a mix of free and members-only content, and they use a pay-per-view model for their locked stories. They also have a sponsored content program, where companies can pay to have their content featured on the publication. According to Finding Tom, Marker has been one of the most successful Medium publications, with some of their writers earning thousands of dollars per month.
Forge
Forge is a publication that focuses on personal development and productivity. They also have a mix of free and members-only content, and they use a similar pay-per-view model for their locked stories. In addition, they have a coaching program, where readers can pay for one-on-one coaching sessions with their writers. According to Niche Pursuits, Forge has been successful at monetizing their content, with some of their writers earning up to $10,000 per month.
Better Humans
Better Humans is a publication that covers health, psychology, and self-improvement. They have a completely free model, where all of their content is available to everyone. However, they have a Patreon program, where readers can support their writers with monthly donations. According to Make a Living Writing, Better Humans has been one of the most successful Patreon-backed publications on Medium, with some of their writers earning over $5,000 per month.
These are just a few examples of the many successful Medium publications out there. By using a combination of paywalls, sponsored content, coaching programs, and membership models, these publications have been able to monetize their content and provide a sustainable income for their writers.
Conclusion
In conclusion, we learned that Medium publications have different ways of making money. Some publications earn money through the Medium Partner Program, where writers earn money based on the number of reads and claps their stories get. Other publications make money from sponsored content or subscription revenue.
However, it’s important to note that not all Medium publications make money. In fact, the vast majority of publications don’t earn any revenue. This means that writers who want to earn money on Medium need to be strategic in their approach. They need to write stories that are engaging and have the potential to go viral, and they need to build a following of readers who will support their work.
Overall, Medium is a unique platform that offers writers the opportunity to reach a large audience and earn money in the process. While it may not be the easiest platform to make money on, it’s definitely worth considering for writers who are looking to build their brand and grow their audience. So, if you’re a writer looking to make money on Medium, our advice is to keep writing, keep publishing, and keep engaging with your readers.