I’m not a consistent writer on the Medium platform. I prefer the open platform style found here on Quora. However, I did some research a few months ago on Medium when I was searching for a good freelance opportunity that I could use to make a decent living with from home.
I’ll just include a few aspects of the Medium platform to outline how it can be used to make a living, specifically for the purpose of answering your question.
Medium’s payout is based on a reader’s membership fee. These fees are distributed to writers that the readers engage with based on reading time + claps, applying only to “locked” stories. There are also opportunities to make money through affiliate marketing.
On Medium you can also create Mailing List through which you develop subscribers who you can market to in order to earn money. You can market to these subscribers via a call to action ling within your articles. Your earning potential will depend on the number of subscribers.
Earning potential is based on the quality of your writing and the number of engagements you content attracts. You can visit Medium’s site for details about the jargon used to identify sections of the platform that highlight methods of payment.
This is just a short paraphrase of howmuch I learned about Medium in my short research. I’m sure that there are plenty of details that I’ve left out.
The bottom line: “You must write quality content in order to make a living on Medium.”