Summary

The article discusses the potential for writers to earn significantly more on Quora than on Medium due to its larger user base and new monetization features like Quora+ and paid Quora Spaces.

Abstract

The author reflects on the theoretical possibility of earning up to $100K per month on Quora, which has over 300 million users, compared to Medium's 30 million. Quora's introduction of Quora+ for$ 5 per month and the ability to monetize Quora Spaces suggests a higher earning potential for writers, drawing comparisons to YouTube's success with content creators. However, the author raises concerns about the willingness of Quora's user base to pay for content, the adoption of the paywall model by Quora writers, and the effectiveness of Quora Spaces in this new model. The article also touches on emerging crypto-based content platforms and other writing platforms for fiction, suggesting that while Quora's new direction is ambitious, its success is uncertain and will only be proven over time.

Opinions

The author acknowledges the theoretical earning potential on Quora, suggesting it could be as lucrative as YouTube for writers.
There is skepticism about whether regular Quora users will be willing to pay for content that might be available for free elsewhere.
The author is uncertain about the number of writers who will opt-in to the Quora+ model and whether Quora Spaces will be a significant factor in monetization.
Alternative platforms, particularly those leveraging cryptocurrency, are noted as potential game-changers in the content creation landscape.
The author is cautious in their optimism about Quora's new monetization strategies, recognizing that only time will tell if they are successful.
The article encourages readers to engage with the topic by sharing their own thoughts and experiences with Quora's new features.

In Theory You Could Earn 100K/Month On Quora Soon

Is Quora becoming the number 1 destination for writers? What are the alternatives

Medium has 30 million users. Top writers on this platform can earn around 10K per month.

Quora has more than 300 million users. With the new earning potential via Quora+ for $5 per month and paid Quora Spaces, we can conclude that, in theory, it is possible to earn 10 times the amount as on Medium, right?

Well, yes. In theory. Let me explain!

Issues with earning on Quora

The aforementioned conclusion didn’t come from my mind. I’ve just read this in a great post by Nicolas Cole.

I see his points. Technically, this new Quora program with a paywall-like structure similar to Medium has a lot of potential for writers. And in theory, the user base of Quora makes this much more lucrative than Medium on paper.

In theory, Quora+ has the potential to become a “YouTube” for writers. With a good mix of ads, paying members, and paid Quora Spaces. On YouTube, earning 100K a month is not out of the realm of possibility. Not at all. On Medium, it is.

I see issues with that though.

First of all, I can’t imagine regular Quora readers — the people who look for honest and productive answers to their questions — paying $5 per month to find and read those answers. Especially since they would probably find the same or very similar answers for free somewhere else.
Secondly, it’s hard to tell how many Quora writers — regular ones with millions of views just as much as new writers — will switch to the paywall model. As far as I understand, everyone can choose to make their questions and answers available for free or only to paying Quora+ members.
Thirdly, I’m not sure what kind of a role Quora Spaces will play here. Spaces are a cool feature, no doubt. The idea to monetize these spaces through a subscription model might even make more sense to me than the Quora+ system. I have to think about it some more though.

Other players in the field

In his post, Nicolas mentioned that Quora is the only platform to have a chance of unlocking this potential for writers. More so than Medium.

That is true. For now.

But I see a couple of interesting developments on the horizon.

Crypto-based platforms

There’s a rise in crypto-based content creation platforms. One of those is mirror.xyz which currently operates on a sort of invite-only basis.

Another one is CloutPub. Built to work with BitClout — a crypto-based social media platform — this new writing platform is in its infancy but has already attracted high-profile writers like Tom Kuegler or Ash Jurberg.

These two platforms are not high-level destinations right now. But if crypto keeps rising, this might change quicker than you think.

On these platforms, you won’t have to count on ads or subscription models that benefit on the basis of reads and views. Instead, mirror.xyz and CloutPub work with direct crypto payments.

So, readers essentially buy your post(s) with a cryptocurrency. And you set the price.

Platforms for fiction writers

For the serious writers among us, there are also places like Wattpad, Kindlevella — as Nicolas pointed out — and Simily. They offer earning potential for writers of fiction, serial stories, and more.

I’m not too familiar with these three platforms, but if you write fiction, you might want to take a look into those as well.

Back to Quora now.

Only time will tell

To conclude — and this is my conclusion — I’m not sure whether these Quora announcements are good or… negligible.

Only time will tell.

I applaud Quora for going new routes, nevertheless. The creator economy is booming like never before, subscription models and freemium systems are at an all-time high.

I could be all wrong here. I probably wouldn’t have thought that a subscription-based email newsletter would work in the 2020s. Then Substack came along. And proved me all kinds of wrong.

So, I don’t know.

Give me your thoughts

What do you think about this? Is Quora a new opportunity for us, writers? Are you excited?

Or is it not of interest to you? Is it negligible?

Tell me!

I know some of you write and read on Quora regularly. Others have just created a Quora account just like me. Give me your opinion!

P.S.: First of all, you should get my posts in your inbox. Do that here! Secondly, if you like to experience Medium yourself, consider supporting me and thousands of other writers by signing up for a membership. It only costs $5 per month, it supports us, writers, greatly, and you have the chance to make money with your writing as well. When I started, I made $3000 in 6 months. By signing up with this link, you’ll support me directly with a portion of your fee, it won’t cost you more. If you do so, thank you a million times!