Remember Medium? Well, You Won't Believe How Much Its App Is Making
This is a single insight from This Week in Apps - Is Blue the New Black?. Check out the full article for more insights.
Remember Medium? If you've been around long enough, you might remember it as the platform that changed the writing experience with its write-in-place editor, replacing the more traditional write-then-preview experience every WordPress blog had.
If you don't go back that long, you might know Medium as a place with some blog posts with a paywall.
I don't go on Medium much these days but every time I do I'm presented with a paywall and I wanted to see if that's generating more revenue than frustration.
Our App Intelligence answered my question very quickly, and the answer is pretty simple - yes, it's working.
It's working so well that since 2017, Medium's mobile revenue rose a whopping 6,968%.
In more absolute terms, we estimate that Medium's net revenue rose 14% year over year to $9.4M in 2023. And that's what Medium gets to keep after Apple's and Google's fees.
2023 wasn't Medium's fastest year of revenue growth, but it was the year with the most revenue. Medium's biggest year was 2018, where 1,061% growth led to its first million dollars from mobile, followed by 173% in 2019.
The US is Medium's biggest supporter by far, contributing more than 57% of the total. The UK, India, Canada, and Australia round out the top 5, each with a single-digit piece of the pie.
At a time when more publications are reversing course away from subscriptions, it's interesting to see a crowdsource publication able to monetize.
App Intelligence for Everyone!
The insights in this report come right out of our App Intelligence platform, which offers access to download and revenue estimates, installed SDKs, and more! Learn more about the tools or schedule a demo with our team to get started.
Are you a Journalist? You can get access to our app and market intelligence for free through the Appfigures for Journalists program. Contact us for more details.
All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.