Thinking about turning your writing into real, consistent income in 2026? You're not alone. Many writers—myself included—are weighing platforms like Substack and Medium, especially as the creator economy matures. Whether you're just starting your writing journey or looking to maximize passive income streams, choosing the right home for your work is crucial for building an audience and earning money.
Key Takeaways: Substack vs Medium at a Glance
Substack: Best for writers who want direct ownership of their audience, flexible monetization, and to build their own brand.
Medium: Suited for those seeking exposure, plug-and-play monetization, and an existing reader base—but less control over subscribers.
Average writers on Substack can earn from a small subscriber base, while on Medium, viral reach matters more for income.
Combining platforms is possible, but focus is key for building a loyal readers-and-income base.
Understanding Substack: The Power of Paid Newsletters
What is Substack?
Substack launched in 2017 as an email-first publishing platform, focusing on helping writers turn newsletters into paying businesses. In 2026, it's still at the forefront of the paid newsletter boom, allowing anyone to own their list, monetize directly, and diversify their income. You set your own subscription price, offer free or paid options, and control every email that goes out.
How Writers Make Money on Substack
Subscriptions: Charge readers monthly (typically $5–$15/mo) or annually with your own pricing plan.
Sponsorships: Negotiate directly with sponsors for banner ads or mentions if you have a valuable niche.
Affiliate Marketing: Recommend tools like ConvertKit (for email marketing) or Canva Pro (design for writers) within your newsletter for extra revenue.
Premium Content: Offer courses or eBooks—using Teachable for example—to paying subscribers.
What's key: You own your email list. This means you can always take your audience elsewhere, cross-promote products, or even start an ecommerce venture using Shopify if you branch out.
Typical Earnings on Substack
Substack has publicly shared that over 1,000 writers are earning $100,000+/year, and many modest newsletters reach $1,000–$5,000/month with just 200–500 paying subscribers at $5/month. Of course, results vary: you need to deliver consistent value and build a relationship with readers. Substack takes a 10% fee plus payment processing (usually 2.9% + $0.30 per transaction via Stripe).
What is Medium? Exploring the Audience-Driven Platform
How Medium Works in 2026
Medium has existed since 2012 as a blogging platform where anyone can publish stories to a massive built-in audience. In 2026, it's still powered by its Medium Partner Program: writers get paid based on member reading time, not ad views, and direct their work toward topic-based publications for expanded reach.
How Writers Make Money on Medium
Partner Program: Earn based on how long Medium Members (who pay $5/month) read your content. The top 1% can make $5,000–$10,000+/month; most writers earn $5–$500/month.
Affiliate Links: Add your own product recommendations (like Fundrise, Swagbucks or Amazon Associates) as allowed by Medium's TOS.
Self-Promotion: Drive readers to your own products, coaching, or even a Substack newsletter for super-fans.
Medium controls the audience and algorithm. If your story goes viral, you can reach tens of thousands overnight—but Medium, not you, owns the subscriber list. This makes it hard to transfer your fans elsewhere.
Medium Earnings: Reality Check
Most active writers earn less than $100/month; only the top 10% make more than $300/month. Income is 100% dependent on the platform's algorithm. That said, the Medium Partner Program pays promptly and requires no upfront audience—making it low friction for new writers.
Substack vs Medium: Key Feature Comparison for Earning Money
Feature
Substack
Medium
Audience Ownership
Full ownership (email list exportable)
Medium owns the audience
Monetization Options
Subscriptions, sponsorships, affiliates
Partner Program, affiliates
Fee Structure
10% to Substack + Stripe fee
Medium takes a share, not transparent per-article
Discoverability
Must drive own growth, or use Substack network
Massive built-in audience
SEO Potential
High, with effort (newsletter + web)
High, but medium.com gets ranking
Which Platform Pays More?
Substack: Pays per subscriber. 100 paying readers at $5/mo = $500/mo, minus fees, with no algorithm risk.
Medium: Income can spike with one viral story, but most content fizzles after a week. Your earnings are at the mercy of Medium's algorithm.
The Pros and Cons: Substack for Passive Income
Benefits of Writing on Substack
Recurring Revenue: Subscription income is reliable if you deliver value—ideal for building passive income.
Audience Ownership: Your list = your asset. You can move, promote, and cross-sell with no platform permission needed.
Brand Building: Grow your personal brand, launch courses (using a tool like Teachable), and attract direct sponsorships.
High Affinity Niche Communities: Substack excels for specific audiences (e.g., finance tips, indie publishing, productivity hacks).
Drawbacks of Substack for Writers
Hard to Get Discovered: If you don't have an audience—or can't hustle social media/email growth—Substack can feel slow. Paid growth takes time.
Content Delivery: You're responsible for deliverability (getting into inboxes), design, and marketing. Using ConvertKit or Canva Pro can help you stand out.
Transaction Fees: 10% Substack fee, plus Stripe—so you'll pay about $0.77 on a $5/month member.
Medium for Passive Income: The Advantages and Challenges
Benefits of Writing on Medium
Built-In Audience: New writers get instant exposure. The top publications send articles to tens of thousands of readers.
SEO Authority: Medium stories frequently rank on Google—giving new writers a chance to go viral with no extra effort.
Simple Monetization: No need to set up payments, taxes, or infrastructure—just join the Partner Program and publish.
Drawbacks of Writing on Medium
No Subscriber Ownership: You can't export reader emails or control your audience directly.
Algorithm Risk: The platform can change its payout model, article ranking, or Partner Program anytime.
Income Volatility: Virality matters more than loyalty—incomes can drop overnight.
Medium is perfect for writers who want to experiment, go viral, or write without upfront setup. If you want to build a business, owning your list is still more valuable long-term.
Which Platform is Best for You? Profile-Based Recommendations
Should You Choose Substack?
I recommend Substack if you:
Enjoy building an email list or have an existing social following.
Want to deliver content your way, create a community, and control monetization (including affiliates or paid products).
Prefer stability—subscribers provide predictable monthly/annual income.
Are comfortable with marketing and audience-building (using tools like ConvertKit or freelancer help from Fiverr).
When is Medium the Right Choice?
Medium is ideal if you:
Are new to writing online or have little/no social following.
Love writing, but don't want to market, design, or manage a business yourself.
Value discoverability over audience ownership—you want your stories read ASAP.
Are OK with income rising and falling based on virality.
Hybrid Approach: Is It the Best of Both Worlds?
Many top writers use both: Medium for audience growth, Substack for community and recurring pay. Some writers syndicate free posts to Medium, linking back to paid Substack newsletters or building course launches via Teachable. But be aware—staying consistent on two platforms is a major time investment. For most writers, it's better to master one before dabbling in another.
Maximizing Your Writer Income: Affiliate Marketing & Diversification
Why Affiliate Income Matters (on Both Platforms)
Passive income isn't only about platform payouts. Smart writers use their content to recommend products, tools, and services, earning ongoing affiliate commissions. For example, if you write about personal finance, you can recommend passive income apps like Acorns, M1 Finance, or Fundrise—monetizing both your Substack and Medium readers.
Substack: Insert affiliate links throughout your newsletter—just follow legal disclosure rules.
Medium: Medium's new policies allow some affiliate links, but always check their terms as they change.
Other top affiliate programs for writers to consider:
Bluehost (blog/web hosting for creators)
Amazon Associates (products, books, gear reviews)
ClickBank (digital products)
Shopify (ecommerce launches)
Other Writer Income Streams to Stack
Surveys & Rewards: Share your experience using Survey Junkie or Swagbucks for side income stories.
Freelance Writing: Land clients with a portfolio on Fiverr.
Courses/Coaching: Build and sell with Teachable.
2026 Outlook: New Ways Both Platforms Are Evolving
Emerging Features on Substack
Podcast hosting and video: More writers use multimedia to connect and monetize, so you can repurpose your content in new formats.
Subscriber Chats/Communities: Substack has launched features for paid-community chat—think 'Slack for superfans'—to drive deeper engagement (and recurring revenue).
Expanded Discovery: Substack is boosting in-platform recommendations, making it a bit easier (but not effortless) to get found by new readers.
Medium’s Latest Changes
Publications as Brands: Strategic collaborations make it possible for writers to join collectives with revenue shares and cross-promotion.
Algorithmic Tweaks: More personalization means your stories may reach a more targeted, higher-converting segment—though at the risk of low visibility for less popular topics.
Multimedia: Incorporating video and interactive media is now a focus for capturing younger audiences.
Both platforms are racing to keep creators happy. Substack puts power in your hands; Medium aims to keep you publishing for their readers.
Case Studies: Real Writer Income Examples
Making $1,000/Month with Just 200 Subscribers on Substack
Say you have 200 loyal readers paying $5/month. That’s $1,000 gross each month—minus about 13% in platform and Stripe fees, netting about $870/month. That’s achievable by sending one valuable email weekly and gradually upselling courses/calls via Teachable. Compare this to Medium, where you might need 20,000+ views/month to reach the same income based on average Partner Program rates.
Going Viral on Medium: Spike, Then Plateau
One personal finance story I published got picked up by a Top 5 Medium publication—earning $315 in a week with 13,000 views. The following month, my income was $68 as views fell. Medium rewards virality, not just loyalty, so regular publishing is required to keep earnings stable.
Diversifying with Affiliates
A friend who writes finance newsletters on Substack nets an additional $600–$800/month just from affiliate recommendations—suggesting tools like Credit Karma (for free credit scores) or micro-investing apps like Acorns. Over time, this passive layer becomes a big share of total income.
Key Questions to Ask Before Choosing Your Platform
Do you want to own your audience, or are you comfortable with platform control?
Is your priority fast exposure or long-term brand-building?
Are you ready to market yourself, or do you mainly want to write?
Will you add affiliate or product income, or just rely on platform payouts?
Are you willing to adapt if platforms change fee structures or discoverability?
Final Thoughts: My Recommendation for Writers in 2026
Both Substack and Medium have helped millions of writers earn real money online. If you want to build a true passive income stream and own your business, Substack remains your best long-term bet—it offers direct relationships, control, and multiple monetization layers. Medium is unbeatable for fast visibility and for writers who don't want the business or marketing side, but expect earnings to swing month-to-month.
Want to maximize your writing income? Start by mastering one platform, build an audience, and layer in affiliate recommendations with programs like Fundrise, Acorns, or freelance gigs via Fiverr. Over time, you can syndicate content or launch additional channels as your brand grows.
Ready to turn your words into wealth? Pick your platform, make your first post, and start building a sustainable passive income today!
