Once an avid reader of Medium, I find myself no longer engaged these days and that's while it's still free! One of the big attractions for writing on Medium was the extra traffic but presumably this value will now decline with the paywall. Personally I'd much rather see a 'Pay to Follow' mechanic where I can make micro subscriptions to my favourite writers to gain exclusive content and/or early access while knowing the majority of the payment (70%?) is going to the writer. Medium felt like it had the potential to become a marketplace.. Shame really.
@mijustin I'm in Canada, and have an option to sign up. The subscription is currently in limited release; hopefully they will have a full rollout very soon.
I signed up. I love Medium, and I like the idea of paying to support writers, not using ads.
Only question is will any writer be able to monetize similar to Adsense?
@joshdance You won't be able to include ads, but certain writers will be able to charge for their stories. I'm not sure exactly what the process is though. They haven't said much about it. (source: I was invited to become one of these writers)
My suggestion to Medium... is to syndicate existing high quality paywalled content from great publications and pay them royalties based on readership rather than trying to create yet another separate publication. I'd happily pay for great writing and journalism, but the problem is it doesn't make sense to subscribe to half a dozen publications when I can only consume a handful of articles of each one every month. Comes Medium, the place where I can read premium content in a great reading experience, without advertising, and I can reward publishers by simply consuming content. Think Netflix for reading, where "Medium Originals" live alongside the big studios hits.
I love the intention behind this move and I'm intrigued enough to give it a try but echoing @rrhoover's thoughts: not sure what the "exclusive" stories entail?
I also feel this is disadvantageous to those who can't afford a membership. Personally would prefer what Wait But Why has done by using Patreon, where the few support the many and all content is available to everyone. As patrons, we get sneak peaks and early access but not necessarily paid-only content.
I think besides the subscription, the most important news in the post is that they are trying to kill the infinite feed and starting offering Human-Curated articles.
"the big difference is that it’s not an endless feed. Instead, it’s a finite digest of stories, organized into sections, and updated three times a day.
Topics are different from tags because they’re curated by experts in their fields and they bring the top stories directly to your homepage."
I like the idea but its really unclear as to who gets what in this model. Is medium creating a paywall for other publications that are using its service as a distribution platform? Then why not just pay the publication? I'm all for supporting writers but transparency is key here.
Upon seeing the invitation, I quickly signed up. Totally agreed the media/ad model is severely broken, and am glad they are doing something different to show there is another way to build a business. It's ultimately a very similar mindset we're planning with horizonapp.co to convincing people to pay directly for the product rather than force us into an ad model.
I like Medium and want them to succeed so maybe I'll join for that reason, but I was really expecting them to deliver a much more creative business model than pay to kill ads.
It's no surprise Medium's heading in this direction after @ev's blog post announcing a change in their business model. I'm hopeful and curious to see how its received, but it's unclear what type of content $5/mo will buy you right now.
Curious to hear peoples' thoughts on this!
@rrhoover maybe it's just me, but it's also unclear what not paying gets you. Does Medium have ads? (I used to use it daily, but must confess haven't as much in recent months but don't think I've noticed ads before). Is this in conjunction with starting to run ads for those who don't pay?
@rrhoover@ev I'm curious too. Maybe writers will be able to publish free and paid posts, and only membership users will be able to access paid content. I'm more curious how will be the payment process for writers.
@rrhoover@ev I think $5/mo is to test drop off rate / price acceptance.
Idea: Lots of companies host their corporate blogs on Medium, so why not give them the ability to sponsor paid memberships to have more inclusivity on Medium Premium? It would be a tax write off for them, and it would grow Medium's premium memberships too. Win-win.
@rrhoover it's only a matter of time until the vast majority services go premium, no matter how large is the funding pocket. I'm curious to see if that's going to be enough, given that they are now crossing that "need-cash" line.. On a second note, we do not exactly know whether they ad model is profitable and well engaged enough to sustain such modification in their biz model. It sure will be interesting to see how this unfolds.
@rrhoover@ev seems like a tough business, there's so much awesome free content out there. I wish the Medium team the best with this new direction! Charging subscribers for great articles definitely helps keep Medium aligned with the customers, instead of making them the product for advertisers *edited to be less negative
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