Semi-Urgent: Not All Medium Stories Are Equal — Why You Might Struggle
A little-known CNN story explains why indie Medium writers may have trouble competing for readers, going-forward
Maybe you’ve seen this article, but I was unaware of Medium’s publication agreements with outside sources. This morning I came across this CNN story from 3/19/19, which contained excerpts from an interview with EV Williams, Medium’s CEO.
…yeah, this is from March, but it’s urgent to me. I had no idea.
I knew about the Medium-hosted publications, but I was unaware of the agreements with media moguls.
The article came out before the new payment terms for writers, but it outlines Medium’s agreements with major publishers, and how it plans to grow that business moving-forward next year.
Medium has no advertising. Which is awesome. Kind of.
Therefore, if the platform wants to grow, all that cash comes from its readers’ $5 per month membership fee. They need more readers, all the time, or they’ve got to pay writers less (I’ll show you why in a second).
This is the same $5 that we writers are paid a small portion of when readers read our stories.
I get they also have a ton of money from venture capital, but that’s not actual income. More like a big loan, or a piece of the company.
The story goes on to explain how Medium has publishing contracts with big-name media outlets, which pay them $5,000-$50,000 per month, based on readership. These are 3–12 month contracts with major publishers, like writers for the New York Times.
It’s clear these exclusive publications are not paid from the same pool of money as individual writers, because the Medium Payment Program monthly update has never listed a $50,000 ‘most-earned’ payout.
In 2018 Medium invested $5 million in new publications. This year, Ev Williams said Medium will invest “several multiples” of this amount on new publications. I don’t know about you, but I run a publication and no one slid a check under my door.
…so, this means your stories and my stories are not the same as their stories.
If Medium fails to grow its readership, that $50k/month payout must come from somewhere — likely in reduced earnings for small writers. The venture funds won’t continue to write big checks forever, if Medium isn’t earning what it should.
Maybe I’ve got it all wrong. I’ve connected a few dots here. I don’t work at Medium, so I can’t see behind the scenes.
Do we take our toys and go home?
Heck no.
Show up every day and write your best work here. Medium is still a fantastic place to read and write. There is no other like it.
Just understand that you’ve got to have your own back when you write on someone else’s platform. Medium can do whatever it wants with its money. I’ve got no beef with that.
They must continue to serve readers with exciting and engaging content.
These big players have seasoned journalists behind them. These are people who should be paid well for their life’s work. I’m not knocking them either.
…but it’s clear which stories get top listing and the most promotion. The eyeballs got to these new, catered publications. If they didn’t get enough views, the big publishers would pull out, so I understand the favoritism here too.
So, what’s my point?
As a champion of the ‘little guy/gal’ I want you to be aware that you must have your own back. Medium will cut your piece of the pie before it’ll cut those with whom its got legal contracts.
Use your stories for more than just read-income.
Encourage your readers to join your tribe — a platform you control. Where you decide what gets published and who gets to see it. Yes, I mean your email list.
Email is your insurance policy against a potential declining readership on Medium’s end. Maybe your readership is growing. This is great. I’m not whining or complaining. I just want you to self-advocate. Get ready now. Because no one is coming to save you.
Remember, this year (2019) they want to spend several times as much on these exclusive publication agreements. How do you think the homepage will look by the end of the year? And how do you think it will look in 2020? It’s already stuffed with Medium-hosted publications.
While the 20,000 pound Medium gorilla is awesome for us little folks, we need a back-up plan if we want to grow our writing income. Your email list is your back-up plan. No one can take it from you (unless you do something illegal, but I digress).
Build your tribe now, before you need it.
And if you’d like, I’d be happy to help. I developed a free, 7-day, Tribe 1K email masterclass. I’ll show you how to get your first 1,000 subscribers (or your next 1,000) without spending a hot nickel on ads.
You don’t have to write for the New York Times to get build your own tribe.
We’re waiting for you.
Enroll in my Email Masterclass. Get Your First 1,000 Subscribers
August Birch (AKA the Book Mechanic) is both a fiction and non-fiction author from Michigan, USA. As a self-appointed guardian of writers and creators, August teaches indies how to make work that sells and how to sell more of that work once it’s created. When he’s not writing or thinking about writing, August carries a pocket knife and shaves his head with a safety razor.
