August, Medium’s first profitable month — Medium CEO

Medium, an online publication platform, saw its first-ever profitable month in August. The CEO of Medium, Tony Stubblebine, stated as much when he released a summary of the company's most recent digital Medium Day 2024 conference on Wednesday. As of April, Medium had over a million members, according to Stubblebine, and more users "than ever before" were signing up for the company's premium programs. He did not provide an amount for the second assertion. Previously, Stubblebine had promised that Medium will turn a profit this year. Stubblebine writes, "There's a side story about how good engineering has saved us money on our server bills." But for the most part, it was just a matter of creating content that people desired to subscribe to. We gave the writers more money while reducing other expenses to make Medium profitable.

Established in 2012, Medium features a combination of written content such as blogs, newsletters, and other formats. It has previously been charged with serving as a holding area for listicles and schemes aimed at getting rich quick. However, the corporation has made a lot of attempts to enhance its overall content mix, as Stubblebine mentions in his essay. Medium's Boost program, which aims to select high-quality content for readers, was introduced in 2023. In the same year, the platform increased the amount of effort it put into moderation, eliminating over a million spam postings (according to Stubblebine, Medium eliminated about 10 million last month) and launching a program that allowed published authors to confirm their identities by claiming their books. More than 9,000 writers have reportedly registered for that initiative, according to Medium.

Medium's partner program, which enables authors to get paid based on the interaction their pieces get from Medium's user base, has also grown in recent months. Additionally, it has introduced a more expensive membership that allows users to give writers more money directly.