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Nikos Kafritsas's avatar

Interesting analysis. Do you think Medium will introduce ads at some point?

Jawo Sky's avatar

This lines up with what a lot of outside data points show about Medium in 2024-2025: the payout pool is still 100% membership‑funded, but distribution is tilting toward fully paywalled, highly curated content, not broadly accessible posts with free‑read escape hatches. Independent earnings breakdowns over the last 18 months show big drops in effective RPM for average writers alongside a smaller group whose per‑read payouts rose after the Friend of Medium tier and curation/boost changes, which supports your point that profitability is being chased via stricter recs, tighter boosts, and less generosity toward non‑members rather than an across‑the‑board 'we paid writers more' approach.

What would be fascinating now is a simple A/B test on your side: 10 posts with the free‑read/external link high in the intro versus 10 where it’s removed, tracked for 30 days by member reads, non‑member reads, and earnings per 1k views... does the cash‑positive via no free link hypothesis show up in hard numbers for you too?

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