Chapter 1: Understanding Medium's Current Landscape

Is Medium still a viable platform for budding writers? While it’s true that Medium may not be as financially rewarding as it once was, there remains potential for those who know how to navigate it effectively.

Year after year, articles proclaiming the demise of Medium flood our feeds. The refrain is familiar: “Don’t invest your time here! The opportunity has vanished!” Yet, such sentiments paint a bleak and inaccurate picture.

Before you jump to conclusions, let’s explore the reality of writing on Medium in 2024. As a dedicated Medium writer, I assure you that the platform still holds untapped opportunities if you approach it with the right mindset.

Although the glory days of effortless six-figure incomes are behind us, Medium can still play a crucial role in your writing endeavors. It’s time to brush off those death knell headlines; the journey is far from over. New chances await those with vision and perseverance.

Medium's Financial Shift

There's no denying that Medium peaked in the mid-2010s. Since then, many writers have experienced a consistent downturn in earnings. Remember when it was commonplace for writers to earn over $10,000 a month? That’s now a distant memory.

Data from 2019 revealed that 90% of Medium authors made less than $100 monthly, with only 1% achieving a full-time income. So, what led to this financial decline?

Several factors are at play:

• Increased competition: The influx of new writers has diluted earnings among the community.
• Algorithm modifications: Changes to Medium's algorithms have made it more challenging to reach popular and compensated channels.
• Loss of top talent: As pay diminished, many of the platform's leading voices sought better opportunities elsewhere.

While this shift disappointed long-standing contributors, it’s essential for newcomers to recognize that Medium never promised quick riches.

Adjusting Your Mindset for Success

To thrive on Medium today, it’s crucial to adopt a mindset focused on skill development and audience growth rather than viewing it as a full-time income source. While it may not cover your bills, it can be a stepping stone to greater opportunities.

Here are a few advantages of using Medium in 2024:

• Low entry barrier: Starting a blog on Medium is straightforward, far easier than launching a standalone blog.
• Built-in audience: Medium offers access to a substantial existing readership, eliminating the need to start from scratch.
• Editorial feedback: Readers on Medium provide constructive feedback, enhancing your writing.
• Supplemental income: Although a full-time income is unlikely, it’s possible to earn a decent side income; I currently make about $500 a month.
• Visibility: Unknown writers can gain recognition and build followings.
• Networking opportunities: Engage with a community of enthusiastic writers eager to collaborate.
• Reputation boost: A popular Medium blog can enhance your writer's portfolio significantly.

If you are just beginning, I strongly encourage you to explore Medium in 2024. Maintain realistic expectations and don’t depend solely on it for your income. Use it to hone your skills, build confidence, grow your audience, and launch broader projects.

For me, Medium has been an ideal platform to kickstart my writing journey. While I have earned directly from my articles, its greatest value lies in its role within my overall content strategy, alongside my website, newsletter, and YouTube channel. When utilized wisely, Medium can unveil numerous opportunities. While it may not lead to wealth, it can serve as an essential first step in your writing career.

Conclusion: Medium's Future for New Writers

Though Medium may not be the goldmine it once was, it remains very much alive. For new writers eager to learn, engage, and possibly earn a side income, Medium is still a commendable option in 2024. Focus on creating valuable content, connecting with the community, and leveraging the platform to unlock new avenues.

What are your goals for writing on Medium? Share your thoughts!

Thank you for reading!

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Check out some of my popular pieces:

• You're Probably Bored With My Writing (Don't Worry, I Am Too)
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Chapter 2: Exploring Video Insights

The first video discusses strategies for growing your audience and income through writing on Medium in 2024, offering valuable insights for new and experienced writers alike.

The second video provides an honest look at writing on Medium, addressing common myths and realities that aspiring writers should consider.