I hate to burst the bubble, but making money on Medium in 2024 is not going to magically make you rich overnight.
I know. Sorry.
But Medium can be a great source of supplementary income for writers if utilized strategically.
Medium is an excellent complementary platform for online writers and creators who know their way around words.
For those of you who don’t know what Medium is, here’s a quick intro.
What is Medium
Medium is an online publishing platform created by Twitter co-founder Evan Williams in 2012.
It allows anyone to publish articles and stories on their own profile/publication and share them publicly.
Medium has become hugely popular among writers and readers alike. It provides a elegant, user-friendly interface for publishing content.
The platform has an integrated Partner Program that allows writers to earn money based on the readership of their stories.
Here’s a quick rundown of some core features of Medium:
- User profile pages and publication pages for writers to share content
- Built-in Partner Program to earn money from content
- Membership model for readers to pay to access content
- Tools for optimizing readability and audience reach
- Integration with social media platforms for content sharing
- iOS and Android apps so readers can access content on mobile
- Analytics dashboard for writers to track performance
- large built-in audience (over 200 million monthly visitors)
Medium has become a go-to platform for writers in all genres. It provides unique opportunities for building an audience and generating income directly from content.
How to maximize your Medium experience
It wasn’t easy. But it was easier than today.
As the platform has grown and evolved, it has become more challenging to earn substantial sums directly from your writing alone.
That has multiple reasons:
- more writers, more competition
- algorithmic changes
- human interventions like distribution and boost
- and more
The key is to have realistic expectations about the income potential on Medium in 2024, and use it as one stream within a diversified income strategy.
Gone are the days where you could support yourself solely through Medium earnings. For most people, at least.
But used wisely, it can still be a great additional money maker for writers.
Let’s get straight into a handy bullet list here:
- Optimize your writing for the Medium Partner Program. This means writing consistently, publishing frequently, and targeting evergreen topics that attract views and reads over time. Making money directly from your writing is still possible, it just requires more volume and consistency than in the past. And getting boosted helps immensely nowadays
- Build traffic and visibility. Use SEO optimization best practices in your headlines and content to drive external search traffic to your Medium profile. This traffic can then be monetized through the Partner Program, but it will also lead to other income opportunities. More in a second. Promote your content on social media and link-building to maximize reach.
- Leverage your existing audience. If you have an engaged email list, subscriber base, or social media following from other sites, funnel that traffic to your Medium content.
Cross-promote new Medium pieces to current followers to capitalize on existing reach. You can even share your Medium stories for free via friend links.
That way more people can read them and if Medium members read via friend links, you still get paid!
- Diversify your monetization strategies. In addition to earning from the Partner Program, incorporate affiliate marketing, calls to action for digital products/courses, and email list building into your Medium content. This provides multiple streams of income. You don’t want to rely on Medium only.
- This seems to have been disabled now (but it might return): Connect your own domain. Once you’ve built a solid Medium presence, you can connect your own domain name to your profile. This builds domain authority, you can later port over to a self-hosted site if desired.
- Use Medium as a lead generation tool. Share high-value content consistently to establish yourself as an authority. Include email signup forms or calls-to-action to convert Medium traffic into leads for services/products.
The key is adapting to Medium’s current environment in 2024, where earning substantial money directly from writing alone is unrealistic. But as part of a broader income diversification plan, Medium can drive significant visibility and multiple income streams.
The bottom line
With the right strategies, most writers can realistically expect to make at least $100-500 per month through the Medium Partner Program in 2024.
Some top performers will earn over $1000 per month directly from their writing.
But the main opportunity here lies in the network-building and lead generation. Guide your Medium readers to your newsletter, products, services, and more to grow a loyal following and earn from multiple income streams.
That way, Medium will still play a valuable role in a writer’s income portfolio in 2024 and beyond.
For writers who adapt and utilize Medium as part of a broader income strategy, there is still good money to be made here.
And if anything, you will find readers and a large community there.