At the Upfront Summit, Medium CEO Ev Williams announced that medium would be launching its new customer subscription service and the product’s first version will be coming soon this quarter. With the launch of mediums new customer subscription service, the company will have new ways to enhance the revenue along with the advertisements. Generating a new source of income in this competitive environment is critical, and the medium decided to close the New York office of the Medium by laying off 50 staffs and announce this new service last month.
Medium CEO Ev Williams stated as ” it will be a new upgrade in your medium experience” and asked people to subscribe when it is ready. As about the layoffs he said that “This is all the way to the new path towards people subscriptions as previously Medium was intended to focus on creating and joining big publishers to medium and enhance revenue by advertisements but the goal is little bit taking the curve towards subscriptions now.
Below in this Tweet, you can see how people appreciate his decision and applauding for him in this short clip downstairs:
— Matthew Ball (@ballmatthew) February 3, 2017
If Medium can get can get the majority of its population subscribing their new service and move towards the paid version then it will be the clearance of the first goal of the Medium business model and company will move forward towards it.
As we know the readership of medium enhanced with 300% last year, so it will be a kind of big source of getting masses through subscription and also making a good business model for publishers on Medium.
Comparing to the other services the customers will be more likely to buy a subscription service for a platform with multiple numbers of journalists instead of those single websites running out there, So in the comparison the medium new subscription service is getting a smell of winning almost but still customers are got so we will be waiting to see the first consumer reaction towards Medium new product.