Can You Become a Millionaire by Writing on Medium.com?
Dreaming of becoming a millionaire on Medium? It’s unlikely—but the real treasure is the knowledge you gain. Use Medium to grow, learn, and unlock opportunities that can lead you to true financial freedom. Write, read, and thrive!
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 rewards you for writing on 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 100 members. The subscription price is $5 per month. So the total capital will be $500. Medium platforms 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 access Medium.com's business data, and we are just trying to explain it with examples). So Medium will keep $250 to run the platform smoothly and reward the rest of the money to those who contribute to writing articles on the platform. Reward more for high-quality content and less or none for low-quality content. 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 Medium's business model. The more subscribers they have, the more capital they can share back with writers. The more readers and fewer writers they have, the more money you can earn if you are one of the quality writers. Based on our 100-member example, if 90 people want to read and 10 want to read and write, then those 10 writers will earn a high income. But imagine we swap the data: 10 people are just readers, and 90 people read and write. Most writers won't earn a substantial income because of intense competition. (Again, we have no idea how the actual data of the Medium platform will be. We are just trying to explain to 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; our blog post is actually meant to explain the real value of the Medium platform to you. We will explain in detail. There may be a few writers who make millions of dollars, but we will be discussing 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. It is a knowledge powerhouse. The platform’s real benefit lies in its vast collection of insights, ideas, and experiences from writers worldwide, and you can access it for just a few dollars a month. Remember about the crazy competition we mentioned earlier? And yes, as a result, the content on the platform will be of higher and higher quality. The writers will compete to produce the highest-quality content, and that is all yours to enjoy. Some of the content will be their personal experiences and may be exclusive to this platform.
Our honest advice to you is not to expect much income from the platform. But you should expect knowledge that can multiply your other income options. For example, you are a great software developer and can build a great application, but you don't know how to promote it. You found an article on Medium.com that explains the process, so you know how to market your app. You can be a millionaire quickly.
If you want to become a millionaire by writing, consider creating your own website. Publish your content there first, then republish it on Medium at a later date (Make sure you include a 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.
Suppose I earn more, great! But my primary focus would be using Medium to learn and grow. By consuming helpful 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 you can 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. Do you think this article was helpful to you? What do you have in mind? Please let us know in the comments.
We have an interesting blog post about the five stages of a profitable business. It would be helpful as well.
Zaw Thet Tin Alex Hicks
