Medium is a platform that allows writers to share their thoughts, ideas, and stories with an audience they might not otherwise reach. While many people write on Medium for the love of writing, the platform has also become a source of income for some users, but can it make you rich?
You can get rich writing on Medium, but it’s highly unlikely. Of course, it depends on your definition of rich, but most writers on the platform earn less than $100 per month. However, there is the potential to earn $1,000+ per month if you put in enough work and get a bit of luck.
It’s important to note that the earning potential on Medium is not the same for everyone. The amount of money you can make on the platform depends on several factors, including the quality of your writing, the topics you write about, and your audience. I discuss more of these below.
How Do You Make Money On Medium?
There are several ways to earn money on Medium, including writing for the Medium Partner Program, receiving tips from readers, and through Medium’s referral program. Let’s explore each of these in more detail.
Medium Partner Program
The Medium Partner Program is a way for writers to earn money from their writing on the platform. To be eligible for the program, you must have a Medium account and have at least 100 followers on the platform. If you’re accepted into the program, you’ll earn a portion of the revenue generated from memberships and subscriptions.
How exactly Medium calculates your earnings is unknown, but essentially the better your stories perform, the higher your potential earnings. Some people might earn an equivalent of $0.01 per view, while others might see multiple times that. It depends on a lot of different factors, with total views, read time, and potentially where those views came from all affecting how much your stories can earn.
Tips From Readers
Medium also allows readers to tip their favorite writers, which can add up to a significant amount of income over time. To receive tips, you must have a Medium account and publish content that resonates with your audience.
However, understand that most readers are not going to leave tips. People are not on Medium to spend money, so they’re unlikely to part with more cash than their current subscription already costs unless you provide incredibly valuable content.
Medium’s Referral Program
There is also the Medium referral program, whereby you can earn some referral commissions from referred members that sign up to a paid account. However, this also relies on you having an audience that would be interested in signing up to Medium in the first place. And while you can promote this link on Medium itself, understand that many of your readers on Medium may already have a subscription and therefore will never need to sign up through your affiliate link.
There are other ways you can make money indirectly through Medium, such as with an email list that you can build up on the platform. You can also add natural, relevant affiliate links in your articles, but these generally won’t perform as well as they might on a dedicated blog.
How Quickly Can You Make Money On Medium?
The speed at which you can make money on Medium can vary greatly depending on several factors. Some writers have reported earning money within their first few weeks of writing, while others have taken several months or even longer to see a significant return.
A few things that can impact the speed you can earn money on Medium include:
- Writing Quality: Writing high-quality content that resonates with your audience is essential to earning money on Medium (or anywhere online!). The better your writing, the more likely you are to attract a large following, which can increase your earning potential.
- Engagement: Engaging with your readers and responding to comments can help you build a loyal following, which can lead to more income over time.
- Monetization Strategies: Utilizing different monetization strategies, such as the Medium Partner Program, tips from readers, and the referral program, can increase your earning potential and help you make money faster.
How Much Money Can You Make From Medium?
The amount of money you can make from Medium can vary greatly, as it depends on several factors, including the quality of your writing, the topics you write about, your audience size, and how you monetize your content.
Some writers have reported earning thousands of dollars per month from Medium, while others earn a more modest income (or nothing meaningful at all). The earning potential on the platform is not capped, and with the right combination of high-quality writing, audience engagement, and effective monetization strategies, the sky is the limit (but it’s highly likely that you’ll never get far off the ground).
It’s important to note that making money on Medium is not a get-rich-quick scheme. It takes time, effort, and dedication to build an audience and earn a significant income. However, for those who are willing to put in the work, Medium can be a way to make some extra money.
It’s also worth noting that you can get other tangible benefits from writing on Medium than simply the potential financial gains. You can become part of large communities, learn from other writers, and build up a writing portfolio. This can be particularly important if you’re a freelance writer, as you can use Medium as a way to show off your writing skills to potential clients.
How Much Does Medium Pay Per 1000 Views?
The amount Medium pays per 1000 views can vary, as it depends on several factors, including the quality of your writing, the topics you write about, and the monetization strategies you use. However, it’s not uncommon to see an equivalent of 1-2 cents per 1000 views.
It’s important to note that earning money on Medium is not solely based on the number of views you receive. While a high number of views can increase your earning potential, it’s the quality of your writing and the engagement of your audience that ultimately determine your success on the platform.
What Does It Take To Become Successful on Medium?
Becoming successful on Medium requires a combination of factors, including writing high-quality content, building an audience, and utilizing effective monetization strategies. Here are a few things you can do to increase your chances of success on the platform:
- Write High-Quality Content: Writing content that resonates with your audience and provides value is essential to building a following on Medium. It’s important to focus on writing articles that are well-researched, engaging, and informative. Learn what your readers like, and write more of that!
- Build An Audience: Engaging with your readers and promoting your content can help you build a loyal following on Medium. Interacting with your audience by responding to comments and promoting your content on social media can increase your reach and help you build a strong community.
- Utilize Monetization Strategies: Exploring different monetization strategies, such as the Medium Partner Program, tips from readers, and the referral program if you have an audience elsewhere, can help you maximize your earning potential on the platform.
- Be Consistent: Writing and publishing content on a regular basis is key to building an audience on Medium. Staying active and consistently publishing content can help you maintain and grow your following over time. It takes time, patience, and dedication, but you can earn some money from your writing!
Medium might not make you rich, but it can earn you some additional income and you can use the platform as a valuable writing tool. It’s definitely worth trying out, and if you’re looking for a way to monetize your writing without creating your own dedicated blog, it’s one of the easiest ways to do it!