Medium is a popular online publishing platform that operates on a unique business model. It offers a combination of free and paid content to its users, allowing them to access a wide range of articles, essays, and stories.
One of the primary ways Medium generates revenue is through its subscription-based model called Medium Membership. Users can choose to become members by paying a monthly or annual fee, which grants them access to exclusive content and features. This includes ad-free browsing, early access to new features, and the ability to interact with authors through private messaging.
Another revenue stream for Medium is its Partner Program. This program allows writers to earn money based on the engagement their stories receive. When a Medium member reads a story and leaves a "clap" (similar to a like), a portion of their membership fee goes to the author. The more claps a story receives, the more money the author can earn. This incentivizes writers to produce high-quality content that resonates with readers.
Additionally, Medium has experimented with other monetization strategies. For example, it has partnered with publishers to create branded content or sponsored stories, where companies pay to have their content featured on the platform. Medium also offers a curated membership program called Medium Publications, which provides access to a collection of exclusive publications for an additional fee.