Medium Vs Substack Which Is The Best Platform For Earning Income In 2024

Choosing the right platform for your writing can be a daunting task, especially when your goal is to earn income. Two popular platforms that often come up in discussions are Medium and Substack. Both offer unique features and benefits, but cater to different needs and preferences. This article delves deep into a comparison between Medium and Substack, analyzing their business models, earning potential, audience reach, content ownership, and overall user experience to help you make an informed decision.

What is Medium?

Medium is a popular online publishing platform founded in 2012 by Evan Williams, also a co-founder of Twitter. It's designed as a space for writers, bloggers, journalists, and experts to share their ideas and stories with a broad audience. Medium distinguishes itself through its minimalist design, focus on quality content, and built-in audience. Writers on Medium can publish articles on various topics, and readers can discover content through personalized recommendations, topics, and publications. The platform's algorithm plays a significant role in content distribution, showcasing articles to readers based on their interests and reading history. This can be a major advantage for writers looking to reach a larger audience without having to build a following from scratch. Medium also fosters a sense of community through features like claps, comments, and highlights, allowing readers to engage with writers and their work. This interaction can lead to valuable feedback and help writers improve their craft. Medium's Partner Program allows writers to earn money based on member reading time, providing a direct incentive for creating engaging and high-quality content. The platform's emphasis on curation and quality control helps maintain a certain standard, making it a trusted source of information for many readers. Writers on Medium benefit from the platform's established domain authority and search engine optimization (SEO), which can help their articles rank higher in search results. This increased visibility can lead to more readers and potential earnings. However, it's important to understand the intricacies of Medium's algorithm and content guidelines to maximize your chances of success on the platform. Medium offers a user-friendly interface and a straightforward publishing process, making it accessible to writers of all levels. The platform's focus on storytelling and ideas makes it a great place for writers who want to share their thoughts and perspectives with the world. Ultimately, Medium provides a valuable platform for writers to connect with readers, build their brand, and potentially earn income from their writing. While there are challenges, such as algorithm changes and competition, the platform's benefits and opportunities make it a compelling option for many writers.

What is Substack?

Substack, founded in 2017, is a platform that enables writers to create and distribute newsletters directly to their subscribers. It's designed to empower writers to build independent media businesses by fostering a direct relationship with their audience. Substack's core offering is a simple yet powerful platform for sending out email newsletters, allowing writers to share their writing, thoughts, and insights directly with their subscribers' inboxes. The platform's business model revolves around paid subscriptions, where readers pay a recurring fee (usually monthly or annually) to access a writer's content. This model allows writers to earn a sustainable income from their work, provided they can build a loyal subscriber base. Substack provides writers with the tools to manage their subscribers, send out newsletters, and track their performance. The platform also handles payment processing and customer support, making it easier for writers to focus on creating content. One of the key advantages of Substack is the direct connection it fosters between writers and their audience. Unlike platforms that rely on algorithms to distribute content, Substack puts the writer in control of their audience and distribution. This direct relationship can lead to a stronger sense of community and engagement, as readers feel more connected to the writer and their work. Substack encourages writers to cultivate a personal brand and develop a unique voice, which can be a significant differentiator in a crowded online landscape. The platform's emphasis on newsletters allows writers to deliver in-depth content and build a consistent presence in their subscribers' inboxes. This consistent engagement can lead to higher retention rates and a more sustainable income stream. Substack has become a popular platform for independent journalists, analysts, and experts who want to share their insights and analysis without the constraints of traditional media outlets. The platform's subscription model allows writers to be compensated directly for their expertise, creating a more aligned incentive structure. While building a subscriber base on Substack takes time and effort, the potential for earning a substantial income is significant. Writers who can consistently deliver valuable content and engage with their audience can create a thriving independent media business on the platform. Ultimately, Substack provides a powerful platform for writers who want to build a direct relationship with their audience and earn income from their writing. The platform's subscription model and focus on newsletters make it a compelling option for writers who are willing to invest in building a loyal subscriber base.

Medium vs. Substack: Key Differences

When considering Medium vs. Substack, it’s important to understand the key distinctions between the two platforms. The most significant difference lies in their business models and content distribution strategies. Medium operates as a content platform where writers earn based on member reading time. This means that writers are paid a portion of the Medium member subscription fees based on how long members spend reading their articles. Substack, on the other hand, operates on a subscription model where writers charge readers directly for access to their newsletters. This means that writers earn money when readers subscribe to their content. Another key difference is in content ownership and control. On Medium, while writers retain the rights to their work, the platform's algorithm plays a significant role in content distribution. This means that your articles may or may not be seen by a large audience, depending on the algorithm's preferences. On Substack, writers have complete control over their content and distribution. They build their email list and send newsletters directly to their subscribers. This gives writers more control over their audience and how their content is consumed. Medium is a platform where you publish articles within the Medium ecosystem, leveraging its existing audience and distribution channels. Substack is a platform where you build your own audience and distribute your content directly to them via email. This difference in distribution strategy has a significant impact on how writers approach building an audience and earning income. Medium is often seen as a good option for writers who want to reach a large audience quickly and don't mind relying on the platform's algorithm for distribution. Substack is a better option for writers who want to build a loyal subscriber base and have more control over their content and distribution. The earning potential on each platform also differs significantly. On Medium, earnings are tied to member reading time, which can fluctuate based on algorithm changes and audience preferences. On Substack, earnings are directly tied to the number of subscribers a writer has, providing a more predictable income stream. However, building a subscriber base on Substack takes time and effort, while reaching a large audience on Medium can happen more quickly. Ultimately, the choice between Medium and Substack depends on a writer's goals, preferences, and writing style. Both platforms offer unique opportunities for writers to connect with readers and earn income from their work.

Earning Potential: Which Platform Offers More?

When it comes to earning potential, both Medium and Substack offer writers opportunities to generate income, but their approaches differ significantly. Medium's Partner Program allows writers to earn money based on the reading time of Medium members. The more time members spend reading your articles, the more you earn. This model rewards writers who create engaging and high-quality content that keeps readers hooked. However, the earnings on Medium can fluctuate based on several factors, including algorithm changes, the number of Medium members, and the popularity of your articles. It's also important to note that a significant portion of Medium's revenue goes to the platform itself, leaving a smaller share for writers. On Substack, the earning potential is directly tied to the number of subscribers a writer has. Writers set their subscription price and earn a percentage of the subscription fees paid by their readers. This model allows writers to build a sustainable income stream by cultivating a loyal subscriber base. The more subscribers you have, the more you earn. However, building a subscriber base on Substack takes time and effort. Writers need to consistently deliver valuable content and engage with their audience to attract and retain subscribers. One of the key advantages of Substack's subscription model is that it provides writers with a more predictable income stream compared to Medium's reading time-based model. With Substack, you have a direct relationship with your subscribers, and your earnings are directly tied to their willingness to pay for your content. This allows writers to have more control over their income. However, Substack also takes a percentage of subscription revenue, which writers need to factor into their pricing and financial planning. In terms of raw earning potential, Substack has the potential to be more lucrative for writers who can build a large and engaged subscriber base. Writers who are able to charge a premium for their content and attract a significant number of subscribers can earn a substantial income on Substack. On the other hand, Medium offers the potential to reach a larger audience more quickly, which can translate into higher earnings in the short term. Writers who can consistently create viral content on Medium may be able to generate a significant income from member reading time. Ultimately, the platform that offers more earning potential depends on a writer's individual skills, goals, and audience. Writers who prioritize building a loyal subscriber base and having more control over their income may find Substack to be a better option. Writers who prioritize reaching a large audience quickly and don't mind relying on the platform's algorithm may find Medium to be more suitable. It's also worth noting that many writers use both platforms to maximize their reach and income potential. By cross-posting content and leveraging the unique benefits of each platform, writers can build a diverse audience and generate multiple income streams.

Audience Reach and Growth

Audience reach and growth are critical factors to consider when choosing between Medium and Substack. Medium has a built-in audience of millions of readers, making it easier for writers to reach a large audience quickly. The platform's algorithm plays a significant role in content distribution, showcasing articles to readers based on their interests and reading history. This means that your articles have the potential to be seen by a wide range of readers, even if you don't have a large following. However, relying on Medium's algorithm also means that your content's visibility can fluctuate based on the algorithm's changes and preferences. It's important to understand how the algorithm works and optimize your content accordingly to maximize your reach. Medium also fosters a sense of community through features like claps, comments, and highlights, which can help writers engage with readers and build a following. The platform's publications also offer opportunities for writers to reach a larger audience by publishing their work in established publications with a dedicated readership. On Substack, audience growth is primarily driven by the writer's efforts to build their email list. Substack writers need to actively promote their newsletters and attract subscribers through various channels, such as social media, word-of-mouth, and cross-promotion. Building a subscriber base on Substack takes time and effort, but it also allows writers to build a direct relationship with their audience. This direct relationship can lead to higher engagement and retention rates, as subscribers feel more connected to the writer and their work. Substack's subscription model also incentivizes writers to focus on building a loyal audience who are willing to pay for their content. This can lead to a more sustainable and engaged audience compared to Medium, where readers may stumble upon your articles without actively seeking them out. One of the key advantages of Substack is that writers have complete control over their audience and distribution. They own their email list and can communicate directly with their subscribers without relying on a platform's algorithm. This gives writers more flexibility and control over their audience growth strategy. Medium offers a larger potential audience in the short term, while Substack offers a more engaged and loyal audience in the long term. Writers who prioritize reaching a large audience quickly may find Medium to be a better option, while writers who prioritize building a sustainable and engaged audience may prefer Substack. Many writers also use both platforms to maximize their reach and growth potential. They may cross-post content or use Medium to drive traffic to their Substack newsletter. By leveraging the unique strengths of each platform, writers can build a diverse audience and achieve their growth goals more effectively. Ultimately, the best platform for audience reach and growth depends on a writer's individual goals, preferences, and marketing strategies.

Content Ownership and Control

Content ownership and control are crucial considerations for writers when choosing between Medium and Substack. On Medium, writers retain the rights to their work, meaning they own the copyright to their articles. However, Medium's terms of service grant the platform certain rights to display and distribute your content. This means that Medium can showcase your articles on its platform, feature them in publications, and use them for promotional purposes. While you retain the copyright, Medium has significant control over how your content is distributed and presented. The platform's algorithm plays a key role in determining which articles are seen by which readers, and Medium can also remove content that violates its guidelines. This level of control can be a concern for some writers who want more autonomy over their work. On Substack, writers have complete control over their content and distribution. Substack writers own their email list and can send newsletters directly to their subscribers without relying on a platform's algorithm. This gives writers more flexibility and control over how their content is consumed and shared. Substack also allows writers to set their own subscription prices and determine how they want to monetize their work. This level of control is a major advantage for writers who want to build an independent media business. With Substack, you are in charge of your content, your audience, and your revenue. You can make decisions about your content strategy, pricing, and marketing without being subject to a platform's algorithm or guidelines. This level of autonomy can be empowering for writers who want to build a direct relationship with their audience and control their creative output. Medium's terms of service and algorithm can change over time, potentially impacting a writer's reach and income. Substack's subscription model and direct relationship with subscribers provide a more stable and predictable environment for writers. Writers who prioritize content ownership and control may find Substack to be a more appealing option. The ability to own your email list and communicate directly with your subscribers gives you a significant advantage in the long term. However, it's also important to consider the effort required to build and maintain a subscriber base on Substack. Writers who are willing to invest the time and effort in building a direct relationship with their audience will likely find the control and ownership offered by Substack to be worth the investment. Ultimately, the best platform for content ownership and control depends on a writer's individual priorities and goals. Writers who value autonomy and want to build an independent media business may find Substack to be a better fit. Writers who are comfortable with the platform's control over distribution and are primarily focused on reaching a large audience may find Medium to be a more suitable option. It's important to carefully review the terms of service of each platform and consider your long-term goals before making a decision.

User Experience: Writer and Reader Perspective

User experience is a crucial factor to consider for both writers and readers when evaluating Medium and Substack. For writers, Medium offers a user-friendly interface and a straightforward publishing process. The platform's minimalist design and intuitive tools make it easy to create and format articles. Medium also provides writers with helpful analytics and feedback, such as views, reads, and claps, which can help them track their performance and understand their audience. The platform's focus on storytelling and ideas makes it a great place for writers who want to share their thoughts and perspectives with the world. However, some writers may find Medium's lack of customization options and limited control over branding to be a drawback. The platform's emphasis on the Medium brand can make it challenging for writers to establish their own unique brand identity. On Substack, writers have more control over the design and branding of their newsletters. Substack allows writers to customize their newsletter templates, add their own logos and branding elements, and create a unique visual identity. This level of customization is appealing to writers who want to build a strong brand and create a consistent experience for their subscribers. Substack's platform is also designed to facilitate a direct relationship between writers and readers. Writers can easily communicate with their subscribers, respond to comments, and build a community around their work. This direct interaction is a key advantage of Substack and can lead to a more engaged and loyal audience. For readers, Medium offers a vast library of content on a wide range of topics. The platform's algorithm provides personalized recommendations, making it easy for readers to discover new writers and articles that align with their interests. Medium's subscription model gives readers access to a diverse range of content for a fixed monthly fee. However, some readers may find Medium's paywall to be a barrier to entry, especially if they only want to read a few articles per month. On Substack, readers subscribe directly to the newsletters they want to read. This gives readers more control over the content they consume and the writers they support. Substack's email format allows readers to receive content directly in their inbox, making it easy to stay up-to-date with their favorite writers. However, some readers may find the email format to be overwhelming or prefer to consume content on a website or app. Ultimately, the best platform for user experience depends on individual preferences and priorities. Writers who value simplicity and ease of use may find Medium to be a better option. Writers who prioritize customization and control over branding may prefer Substack. Readers who enjoy discovering new content and value access to a diverse range of topics may find Medium to be more appealing. Readers who prefer to support individual writers and receive content directly in their inbox may find Substack to be a better fit. It's important to consider both the writer and reader perspective when choosing between Medium and Substack, as a positive user experience is essential for both content creation and consumption.

Conclusion: Which Platform is Right for You?

In conclusion, the choice between Medium and Substack depends on your individual goals, preferences, and writing style. Both platforms offer unique opportunities for writers to connect with readers and earn income from their work, but they cater to different needs and priorities. Medium is a great option for writers who want to reach a large audience quickly and don't mind relying on the platform's algorithm for distribution. Medium's built-in audience and user-friendly interface make it easy to get started and gain exposure. However, earnings on Medium can fluctuate, and writers have less control over content distribution and branding. Substack is a better option for writers who want to build a loyal subscriber base and have more control over their content, distribution, and monetization. Substack's subscription model allows writers to earn a sustainable income by cultivating a direct relationship with their audience. However, building a subscriber base on Substack takes time and effort. If your primary goal is to reach a large audience quickly and you are comfortable with the platform's control over distribution, Medium may be a better choice. If your primary goal is to build a loyal subscriber base, have more control over your content, and earn a sustainable income, Substack may be a better fit. Many writers also find success using both platforms. You can cross-post content, use Medium to drive traffic to your Substack newsletter, or leverage the unique strengths of each platform to maximize your reach and income. Ultimately, the best way to determine which platform is right for you is to experiment and see what works best for your writing style, goals, and audience. Consider your priorities, weigh the pros and cons of each platform, and make a decision that aligns with your long-term goals as a writer. Whether you choose Medium, Substack, or a combination of both, the most important thing is to consistently create high-quality content that resonates with your audience. By focusing on providing value to your readers and building a strong connection with them, you can achieve success on any platform.