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Medium plans to launch a consumer subscription product this quarter

Medium CEO Ev Williams announced today at Upfront Summit that his company will launch a consumer subscription product, with the first version coming this quarter. This could help develop an additional revenue stream apart from advertisements. Finding a strong revenue source is critical, since Medium decided to lay off 50 staff, close its New York office, and announce a new direction last month.
Ev called the product “an upgrade to your Medium experience” and urged people to subscribe when it’s ready. He discussed the layoffs as part of the path to subscriptions, as previously Medium was focused on getting big publishers joining its platform by running ad sales for their properties itself. At the time of the layoffs, Ev wrote “It is too soon to say exactly what this will look like” regarding the new direction of the company. But now it’s coming into focus.
You can see a quick clip of him


 

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