Can You Become a Millionaire by Writing on Medium.com?
Have you ever dreamed of making millions just by writing online? Medium.com is a platform where writers share their thoughts, knowledge, and ideas and the platform reward you to write in it. And I found people have exciting questions about how much you can earn as a writer on Medium.com. So can you actually become a millionaire by writing on Medium? Let’s explore.
How Does Medium Pay You?
Medium uses a membership-based business model. Readers pay a monthly fee, and Medium shares a portion of this money with writers. Let's say they have a 100 members. The subscription price is $5 per month. So the total capital will be $500. Medium platform themselves need to make money out of it. I don't know the exact percentage but let's say 50/50 (Please note: we have no way to know the business data of Medium.com and we are just trying to explain you with examples). So Medium will keep $250 to run the platform smoothly and reward the rest of the money who contribute to write articles on the platform. Reward more to high quality contents and less or none to low or now quality contents. The amount you earn depends on how many people read and engage with your stories. The more time they spend on your work, the more you earn.
Now we understand the business modal of Medium. The more subscribers they have, the more capital they can share back to writers. The more readers and less writer they have, the more money you can earn if you are one of the quality writers. Based on our 100 member example, if for example 90 people only want to read and 10 people want to read and write. Then those 10 writers will be rewarded with a great income. But imagine we swap the data to 10 people just readers and 90 people read and write. The most of the writers won't get substantial income because there will be a crazy competition. (Again, we have no idea how the actual data of Medium platform will be. We are just trying to explain you with examples).
Is Becoming a Millionaire on Medium Impossible?
The short answer: yes, it’s nearly impossible. But that doesn’t mean Medium isn’t valuable and our blog post is actually to explain you the real value of Medium platform. We will explain in details. There may be few writers who make millions of dollars but we will be discussing for the majority of the writers.
When you ask wealthy, successful people how they achieved financial freedom, one of their most common answers is: read. Successful entrepreneurs are lifelong learners, constantly absorbing new ideas and knowledge.
This is where Medium truly shines—not as a get-rich-quick scheme, but as a knowledge powerhouse. The platform’s real benefit lies in its vast collection of insights, ideas, and experiences from writers worldwide and you only need a few dollars a month to have access to it. Remember about the crazy competition we mentioned earlier? And yes due to that, the contents on the platform will be higher and higher quality. The writers will compete to have highest quality content and you just need to enjoy it. Some of the contents will be their personal experiences and may be exclusive on this platform.
Our honest advice to you is, don't expect much income from the platform as money. But expect knowledge that can multiply your other income options. For example you are a great software developer and you are fluent to build a great application but you don't know how to promote that product. You found an article on Medium.com that enlighten about the process so you know how to market your app. You can be a millionaire quick.
If you want to be a millionaire by writing, you can consider an option like having a website on your own. Publish your content there first and republish it on Medium at a later date (Make sure you include the backlink to your original post on your website). That way you grow on both platforms and your custom website will pave the way to a millionaire.
The Power of Knowledge for Financial Freedom
The more you read, the more you grow. Medium articles can help you uncover hidden opportunities and develop the mindset needed for long-term success. Instead of focusing solely on making money through writing, think about how the knowledge you gain from reading and writing can fuel your financial freedom.
A Practical Approach to Writing on Medium
Let me share my personal strategy:
I enjoy writing, and if I wanted to earn money from it, I’d follow a simple plan:
- Start a blog and publish everything there first.
- Republish my blog posts on Medium later, including a link back to the original.
- Use the earnings from Medium to cover the cost of a Medium membership.
If I earn more, great! But my main focus would be using Medium to learn and grow. By consuming useful articles and sharing my own knowledge, I’d build the foundation for financial success over time.
Final Thoughts
Can you become a millionaire by writing on Medium? Probably not. But what you can do is use Medium as a tool to expand your knowledge, develop your skills, and unlock opportunities. Remember, financial freedom doesn’t come from one platform alone—it comes from the habits, mindset, and knowledge you build along the way.
So, write, read, and grow. Medium might not make you a millionaire, but it could lead you to the path of financial freedom.
Thank you for reading. Was this article helpful? What do you have in mind? Please let us know in the comments.
We have an interesting blog post about 5 stages of a profitable business. You will find it helpful as well.
Zaw Thet Tin Alex Hicks
