That's a sobering look at the numbers. I hope they're not in the red month to month. I signed up for the new tier right away too and I'll be offering my own thoughts on it shortly. It's amazing how quickly speculation ends up giving birth to bizarre ideas. Thanks for this rational assessment!
I dug around a bit before writing this and chased some of the numbers back to the sources. From what I read, the investors keep them in the black. But you're so right, speculation tends to birth bizarre ideas more than beneficial ones. Suspicion is a beast unto itself
Investors do not keep them in the black unless they think they’ll get a big payout down the line. I have worked for three VC funded companies and frankly I think the whole business could go down in flames at any point. VCs need an event- an acquisition or going public. Neither makes sense because Medium is just not that attractive financially from what I can see. I suspect Medium is losing a lot of top writers to Substack and similar platforms and this may be retention strategy.
Hard to know without sitting at that table. I figure there's probably two reasons a person with too much money might invest. One is to make back more. The other is for the tax write off. I'm sure there's more but I'm not an investor so I have no idea what other motivations they might have.
I also feel a little more responsibility to only select and read quality stories knowing my time will impact them a little more, and I'm extra careful not to click on meta articles or clickbait. I'm happy to invest a little more.
Much better explanation than the gobbledygook Medium provides. The line that stood out for me was about the lack of clarity coming from Medium. I believe it is intentional but maybe I’m paranoid. But be careful with the numbers. The number of writers for example. How many wrote one or two pieces and faded? Most, I suspect. And you can’t simply multiply the under 100 dollar group because the vast majority are probably at the bottom end of the scale. I’m not quite so convinced that it will make any real difference to what we make. I hope you’re right about it.
Yup. Using any numbers at all is like nailing jello to a tree. Woggly at best and there's inevitably bits left on the ground. They say "active" writers, but no one defines what that means. Does it mean active monthly or active once. No idea. I do think the line can get fuzzy between paranoid, cynical and skeptical but I also I think cautious skepticism isn't a bad thing. I'd rather be too cautious than too gullible. Another factor I didn't even mention is quality, because that's a factor in the whole mess, too. For me the bottom line is I'm game to throw another $10 into the pot that pays writers and see what happens. :)
I think the intentions behind Medium's changes are mostly benevolent. This platform is not like a casino with 10,000 slots running 24/7, so there's a desire on their part to create a nice space for writers. - who then can make a little money. But if you look at all the signs - Medium is having financial issues and I wish they would just be more overt and trusting of their members. A. Insert a few ads make some extra money. B. Raise membership to $7/month, that's a 40% increase, that will help too. C. just talk to us because most members want Medium to continue and would be willing to stretch a little. My thoughts.
I like option B. I don't think a $2 increase would lose too many folks. I'm kind of glad they are ad free. Sometimes ads get a bit much. Of course, they could do a sponsor ad in the Daily Digest and I don't think anyone would care. I suspect the reason they don't talk to members more is that while many are understanding and care about the place, a lot are very antagonistic and the headache wouldn't be worth the conversation.
I suppose that's true - there are a lot of pissed off members compared to 2018. But in all honesty, I think Medium has done its fair share in creating that antagonism by not being upfront. Not telling us what the real issues are. Saying there will be great changes - only to see payouts drop off a cliff. They've acted like the proverbial "great restaurant" that changes chefs and menus every 6 months after winning awards and wondering why their tables are empty. They have something 100K+ writers like and want, it's time they trust us to help. We'll see. Friends of Medium might help, might raise payouts if the algorithm remains the same. It might raise $$ for them which is one result they are after as well. I'm hoping they make it!
Well, I agree 100% with your entire post, Linda. I’m signing up as soon as I hear back from an inquiry I sent to them yesterday about the timing when one is an annual pay subscriber( my renewal date is several months away yet) It IS all about giving which when you think about it, is something the world desperately needs.
Your point about doing the Medium friend level-up if it fits the budget and do not up your commitment otherwise is well taken. Don’t know if you are a fan of the series Billions, but in one episode someone discussing the Uber wealthy head honcho’s finances (referring to the billionaire Logan Roy character) says something like “ Sure he “gave” but it was such a minuscule portion of his net worth, he could have quadrupled his “giving” and it still wouldn’t make a dent in his fortune.
Corporate greed absolutely needs to be dealt with. And we need to fight this stinginess vigorously while still understanding that profit(but reasonable profit not stupid profit) is what keeps a business in, well, business.
At the same time, when possible, we do our bit in the “giving” circle. I want writers to be well paid for their work. I am glad Medium is giving me an opportunity to contribute to that goal.
Thanks for this important edition of your newsletter, Linda.
Thanks, Suz! Yeah, I'd never want someone to upgrade if doing that would make money tight for them. But those who can, sure why not. I don't watch Billions, but you're so right. As a percentage of income, the more people earn the less they really give. :)
Bet you can hear the huge sigh of relief all the way from a small town in Connecticut where the skies are gray, prices are rising, and the dog discovered the delights of tugging toilet paper from the roll and rampaging through the house. I'm sighing, because having read about the program and its intentions, recognizing the opaque and unexplained, I want to support writers who inform, educate, inspire, and show up to share their stories. So, I signed up and will take this ride and see where it takes me. Thanks for a terrific piece!
Thank you, Linda! Very illuminating. I also signed up for Friends Of Medium. I figured that for one year I'll give it a try and see if the benefits are worth it. Either way, it's not going to make a difference to my output.
Same problem. I sent a support ticket and they handled it. Had to cancel membership. Then upgrade. Support did all the behind the scenes stuff. Success!
Medium has a trust issue. Some of us who have been critical of the platform have gone from at least $100 a month consistently to barely paying for our subscription. Maybe it’s a coincidence, maybe not. I feel like Charlie Brown with the football. I keep hoping this time will be different and then it never is. I can’t afford to pay more at the moment anyway.
I don’t understand why I used to make hundreds on a story now and then and over a thousand once or twice but I haven’t made over $20 a month since June of 2022. From May of 2020 to February of 2022, my monthly income only dropped below $100 once. My best month was August of 2021 at $2843.45. I know there are many factors, but I just can’t get distributed anymore. It seems everything I read has robust engagement, even when the author has a tiny fraction of the followers I do. I keep adding followers, too, which tells me my writing is most likely not the problem.
The time frames intrigue me. From mid 2020 to August 2022 most of my pay at Medium was from stories posted in History of Yesterday. That guy could drive views like nobody's business and a fair number of the visitors he sent to my posts would read other stuff I wrote. I'd see that in notifications. First they read a history post, then they read a couple others.
Then he left Medium and I struggled for so long. It was so bad for so many months I was honestly considering leaving Medium. Then I got invited to join the beta group for the Boost program. It's why I didn't leave. I doubled down and tried to build up my publications again and started dabbling in different types of writing to see what flies. So far, it's tech posts about ChatGPT and AI as a whole, plus some of the personal essays do well. Not all, but some.
I kind of wonder if you're having a similar experience. Because I know you did well in History of Yesterday, too. Maybe it's not so much your writing as finding the corner of Medium where you can get the kind of results we both used to get with the history pub. I don't know, but just thinking out loud.
You clarified this with simplicity; all the convoluted explanations always confuse me more. I hope it will mean more for the writers who write great stories and bring in less for the clickbait ones, but that may be me wearing my rose colored glasses, skipping down the road, as usual, acting like everything is fair, equal and just in the world.
It is a wonderful concept and I’m grateful that Medium has made changes like this; these take effort to put into place, and to balance carefully before implementing. There will always be naysayers, like you mentioned, even when there isn’t an issue.
Clarity is definitely not their forte. Had they framed this entire program as one of giving/symbiosis, they could've eliminated a lot of heartburn. Instead, there are more questions than answers, and the cynics among us have already seized on it. It's the sort of event that launches 1000 meta posts. it also didn't help that Medium (again) mentioned helping editors and curators as part of a product launch.
The benefit to us as writers/readers is pretty clear. But how will this specifically help you and I as editors? Seems like more carrot dangling to me. I asked in the comments, but as of this writing, it's gone unanswered. To be honest, that's a line someone should've cut before the article went to press.
Yup, they definitely need someone to edit their posts. I could recommend a killer editor they don't even know and it's not me. lol. It does not benefit us as editors at all. And the only part curators and boost nominators have in the equation is that we're part of the overhead.
They would have been better off to just show a screencap of the new member signup page. It lists all the benefits at the $5 level. Then the $15 level says writers you read get base rate x4 and you can link to their posts so they get compensated for nonmember views. That page is 1000 times clearer than Andrew's post.
Glad I took a break from Medium this past month. I saw the Friend upgrade on Wednesday and immediately wished I made enough from Medium to justify getting it. It didn't even occur to me to wonder what I'd get from it: the description is quite clear (minus the earning specifics). Until I read this, I had no idea there was anything to complain about.
I'm in the sign me up, please, camp. I've long thought it would make sense to raise the rate a little to reward and encourage writers. Trouble is, I don't have the option to upgrade. What is the hold up? I'm itching to give my money and they're not taking it. Bummer...
A few of the boost nominators had the same problem and the support team was able to help them out. If you email support, they can look at what's happening for you, too. :)
It is more likely on paypal's end. Paypal does not permit merchants to change the total billed on a subscription purchase and that's what Medium would have to do is change the billing total. And thank heavens paypal doesn't allow that because a lot of people would abuse that, but in this case it creates a real pain in the butt.
That's a sobering look at the numbers. I hope they're not in the red month to month. I signed up for the new tier right away too and I'll be offering my own thoughts on it shortly. It's amazing how quickly speculation ends up giving birth to bizarre ideas. Thanks for this rational assessment!
I dug around a bit before writing this and chased some of the numbers back to the sources. From what I read, the investors keep them in the black. But you're so right, speculation tends to birth bizarre ideas more than beneficial ones. Suspicion is a beast unto itself
Investors do not keep them in the black unless they think they’ll get a big payout down the line. I have worked for three VC funded companies and frankly I think the whole business could go down in flames at any point. VCs need an event- an acquisition or going public. Neither makes sense because Medium is just not that attractive financially from what I can see. I suspect Medium is losing a lot of top writers to Substack and similar platforms and this may be retention strategy.
Hard to know without sitting at that table. I figure there's probably two reasons a person with too much money might invest. One is to make back more. The other is for the tax write off. I'm sure there's more but I'm not an investor so I have no idea what other motivations they might have.
I also feel a little more responsibility to only select and read quality stories knowing my time will impact them a little more, and I'm extra careful not to click on meta articles or clickbait. I'm happy to invest a little more.
Totally agree, Christopher. It going to make me a fussier reader and probably more selective about what I publish in my publications, too.
I hope less reading of meta/clickbait is the biggest 2nd order effect of this change.
Much better explanation than the gobbledygook Medium provides. The line that stood out for me was about the lack of clarity coming from Medium. I believe it is intentional but maybe I’m paranoid. But be careful with the numbers. The number of writers for example. How many wrote one or two pieces and faded? Most, I suspect. And you can’t simply multiply the under 100 dollar group because the vast majority are probably at the bottom end of the scale. I’m not quite so convinced that it will make any real difference to what we make. I hope you’re right about it.
Yup. Using any numbers at all is like nailing jello to a tree. Woggly at best and there's inevitably bits left on the ground. They say "active" writers, but no one defines what that means. Does it mean active monthly or active once. No idea. I do think the line can get fuzzy between paranoid, cynical and skeptical but I also I think cautious skepticism isn't a bad thing. I'd rather be too cautious than too gullible. Another factor I didn't even mention is quality, because that's a factor in the whole mess, too. For me the bottom line is I'm game to throw another $10 into the pot that pays writers and see what happens. :)
I think the intentions behind Medium's changes are mostly benevolent. This platform is not like a casino with 10,000 slots running 24/7, so there's a desire on their part to create a nice space for writers. - who then can make a little money. But if you look at all the signs - Medium is having financial issues and I wish they would just be more overt and trusting of their members. A. Insert a few ads make some extra money. B. Raise membership to $7/month, that's a 40% increase, that will help too. C. just talk to us because most members want Medium to continue and would be willing to stretch a little. My thoughts.
I like option B. I don't think a $2 increase would lose too many folks. I'm kind of glad they are ad free. Sometimes ads get a bit much. Of course, they could do a sponsor ad in the Daily Digest and I don't think anyone would care. I suspect the reason they don't talk to members more is that while many are understanding and care about the place, a lot are very antagonistic and the headache wouldn't be worth the conversation.
I suppose that's true - there are a lot of pissed off members compared to 2018. But in all honesty, I think Medium has done its fair share in creating that antagonism by not being upfront. Not telling us what the real issues are. Saying there will be great changes - only to see payouts drop off a cliff. They've acted like the proverbial "great restaurant" that changes chefs and menus every 6 months after winning awards and wondering why their tables are empty. They have something 100K+ writers like and want, it's time they trust us to help. We'll see. Friends of Medium might help, might raise payouts if the algorithm remains the same. It might raise $$ for them which is one result they are after as well. I'm hoping they make it!
Well, I agree 100% with your entire post, Linda. I’m signing up as soon as I hear back from an inquiry I sent to them yesterday about the timing when one is an annual pay subscriber( my renewal date is several months away yet) It IS all about giving which when you think about it, is something the world desperately needs.
Your point about doing the Medium friend level-up if it fits the budget and do not up your commitment otherwise is well taken. Don’t know if you are a fan of the series Billions, but in one episode someone discussing the Uber wealthy head honcho’s finances (referring to the billionaire Logan Roy character) says something like “ Sure he “gave” but it was such a minuscule portion of his net worth, he could have quadrupled his “giving” and it still wouldn’t make a dent in his fortune.
Corporate greed absolutely needs to be dealt with. And we need to fight this stinginess vigorously while still understanding that profit(but reasonable profit not stupid profit) is what keeps a business in, well, business.
At the same time, when possible, we do our bit in the “giving” circle. I want writers to be well paid for their work. I am glad Medium is giving me an opportunity to contribute to that goal.
Thanks for this important edition of your newsletter, Linda.
Thanks, Suz! Yeah, I'd never want someone to upgrade if doing that would make money tight for them. But those who can, sure why not. I don't watch Billions, but you're so right. As a percentage of income, the more people earn the less they really give. :)
Bet you can hear the huge sigh of relief all the way from a small town in Connecticut where the skies are gray, prices are rising, and the dog discovered the delights of tugging toilet paper from the roll and rampaging through the house. I'm sighing, because having read about the program and its intentions, recognizing the opaque and unexplained, I want to support writers who inform, educate, inspire, and show up to share their stories. So, I signed up and will take this ride and see where it takes me. Thanks for a terrific piece!
That's great, Louise. Had to laugh at the dogs. I hope you took pictures before you cleaned it all up
Thank you, Linda! Very illuminating. I also signed up for Friends Of Medium. I figured that for one year I'll give it a try and see if the benefits are worth it. Either way, it's not going to make a difference to my output.
Thanks for breaking it down as always - this was eye opening indeed :)
Great analysis, Linda!
Thanks, Marilyn! :)
Are you going to post this on Slack? May I post a link?
Thanks Marilyn. I haven't even been to Slack yet today but sure you can share it and thanks!
Well, just tried. They can not change payment method. Says: check your info.
I guess, I'll have to wait until my subscription runs out...
Pretty stupid.
They should've think about a solution.
It is their job, after all.
One of the nominators had the same happen but support was able to help her get it switched over. If it's still not working, just reach out to support.
Same problem. I sent a support ticket and they handled it. Had to cancel membership. Then upgrade. Support did all the behind the scenes stuff. Success!
Yes, do reach out to support. I'm past renewal date & the system computed a pro rated amount to upgrade.
Medium has a trust issue. Some of us who have been critical of the platform have gone from at least $100 a month consistently to barely paying for our subscription. Maybe it’s a coincidence, maybe not. I feel like Charlie Brown with the football. I keep hoping this time will be different and then it never is. I can’t afford to pay more at the moment anyway.
I don’t understand why I used to make hundreds on a story now and then and over a thousand once or twice but I haven’t made over $20 a month since June of 2022. From May of 2020 to February of 2022, my monthly income only dropped below $100 once. My best month was August of 2021 at $2843.45. I know there are many factors, but I just can’t get distributed anymore. It seems everything I read has robust engagement, even when the author has a tiny fraction of the followers I do. I keep adding followers, too, which tells me my writing is most likely not the problem.
The time frames intrigue me. From mid 2020 to August 2022 most of my pay at Medium was from stories posted in History of Yesterday. That guy could drive views like nobody's business and a fair number of the visitors he sent to my posts would read other stuff I wrote. I'd see that in notifications. First they read a history post, then they read a couple others.
Then he left Medium and I struggled for so long. It was so bad for so many months I was honestly considering leaving Medium. Then I got invited to join the beta group for the Boost program. It's why I didn't leave. I doubled down and tried to build up my publications again and started dabbling in different types of writing to see what flies. So far, it's tech posts about ChatGPT and AI as a whole, plus some of the personal essays do well. Not all, but some.
I kind of wonder if you're having a similar experience. Because I know you did well in History of Yesterday, too. Maybe it's not so much your writing as finding the corner of Medium where you can get the kind of results we both used to get with the history pub. I don't know, but just thinking out loud.
You clarified this with simplicity; all the convoluted explanations always confuse me more. I hope it will mean more for the writers who write great stories and bring in less for the clickbait ones, but that may be me wearing my rose colored glasses, skipping down the road, as usual, acting like everything is fair, equal and just in the world.
It is a wonderful concept and I’m grateful that Medium has made changes like this; these take effort to put into place, and to balance carefully before implementing. There will always be naysayers, like you mentioned, even when there isn’t an issue.
Clarity is definitely not their forte. Had they framed this entire program as one of giving/symbiosis, they could've eliminated a lot of heartburn. Instead, there are more questions than answers, and the cynics among us have already seized on it. It's the sort of event that launches 1000 meta posts. it also didn't help that Medium (again) mentioned helping editors and curators as part of a product launch.
The benefit to us as writers/readers is pretty clear. But how will this specifically help you and I as editors? Seems like more carrot dangling to me. I asked in the comments, but as of this writing, it's gone unanswered. To be honest, that's a line someone should've cut before the article went to press.
Yup, they definitely need someone to edit their posts. I could recommend a killer editor they don't even know and it's not me. lol. It does not benefit us as editors at all. And the only part curators and boost nominators have in the equation is that we're part of the overhead.
They would have been better off to just show a screencap of the new member signup page. It lists all the benefits at the $5 level. Then the $15 level says writers you read get base rate x4 and you can link to their posts so they get compensated for nonmember views. That page is 1000 times clearer than Andrew's post.
Thank you. I'll do that now. 🙏🏻
Glad I took a break from Medium this past month. I saw the Friend upgrade on Wednesday and immediately wished I made enough from Medium to justify getting it. It didn't even occur to me to wonder what I'd get from it: the description is quite clear (minus the earning specifics). Until I read this, I had no idea there was anything to complain about.
But of course there is. 🤦♀️
I'm in the sign me up, please, camp. I've long thought it would make sense to raise the rate a little to reward and encourage writers. Trouble is, I don't have the option to upgrade. What is the hold up? I'm itching to give my money and they're not taking it. Bummer...
A few of the boost nominators had the same problem and the support team was able to help them out. If you email support, they can look at what's happening for you, too. :)
You probably are subscribed using PayPal. Same as me.
We have to change it to credit card first. And then try.
Or wait for end of subscription period. Cancel Membership. And sign up again.
That is what I've read.
Kind of stupid. Medium needs a good tech manger.
It is more likely on paypal's end. Paypal does not permit merchants to change the total billed on a subscription purchase and that's what Medium would have to do is change the billing total. And thank heavens paypal doesn't allow that because a lot of people would abuse that, but in this case it creates a real pain in the butt.
True. I'll try to change my payment method today and try again. Will see.
I am still skeptical, but as you've said: why not try to help other writers?
This month I can afford it. Thank God!
So, I'll give it a try on a monthly basis....
My mid daughter can miss couple of Starbucks visits... ( or one, not sure with their prices). Lol
When you sign up for the new one at Medium just sign up for monthly billing not annual. That way you can drop back down to $5 if you want :)
That is what I am going to do. Thank you, Linda!
Yes, thank you. That was it. Support got it all sorted out. My end of subscription was months away and I didn't want to wait.