If you’re a freelance writer, chances are you’re looking for new income streams. You know what they say, you don’t want to keep all your eggs in one basket. One way that I often hear writers talking about is making money writing on Medium.
I regularly write on Medium, and I get asked a lot whether or not you can actually make money on the platform and how hard it is to do. So, I thought I would answer a few of those questions right here.
Can You Make Money Writing on Medium?
Yes, you can make money writing on Medium. I’ve been writing on Medium for the last year and a half passively and I typically take home between $50 and $100. It’s not a ton of money, but I also don’t put in a ton of effort. In the end, it’s a nice little extra cash.
How Do You Make Money Writing on Medium?
The Medium algorithm that actually calculates a writer’s earnings is a bit of a mystery to those who make money writing on Medium, especially because it changes every once in a while.
Most recently, late last year they made a major change. The calculation used to be based on “claps” which was essentially your “fans” thanking you for writing a story after they’d read it. However, as of last year, the algorithm changed. It is now based on reading time. The longer someone reads, the more money you make.
But it goes one step further because everyone pays a membership fee of $5 per month. And the money that writers make is based on the $5 of each reader. You get a portion of the reader’s fee based on how long they read your article.
How Much Money Can You Make on Medium?
Making money writing on Medium depends on you. As a general rule, the more you write, the more likely you are to make more money. The first article that I ever wrote on the platform pulled in $55 in the first two weeks. But some months people don’t make any.
Somewhere between 50 and 75 percent of writers who post at least once during the month make some amount of money. But the writers who make $100 or more tend to be under 10% of active users.
Those who are active and hit the write spots can make thousands of dollars. I’ve seen a single story earn more than $10,000. Likewise, some months the top writer can make upwards of $12,000. But it depends on a number of factors, including:
- Story topics
- The activity of readers
- The activity of the writers
- Getting an article curated
And so many other factors that we simply don’t know or understand.
When it comes down to it, you absolutely can make money writing on Medium. But it’s by no means a golden key to success and financial security. Even so, if you write great articles and your voice really stands out, then you have a great chance to see success on Medium.
Have you made money writing on Medium before? Share your thoughts below!
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Tae started out as a journalist before following the money into the corporate world. But it turns out that the grass isn’t always greener and now you can find her spending most of her time writing about all the things she loves. Namely, money, travel and business with a hefty dose of self-deprecating humor. She is a podcast fanatic, blogging aficionado and loves to find new ways to turn passions into cold hard cash!