Publishers are leaving Medium, the crowdsourced-based content platform, amid business changes that make It harder for them to make money. Most notably in the last month, Bill Simmon's sports/culture blog The Ringer moved to Vox and Condé Nast's tech blog BackChannel moved to Wired.
Why it matters: Medium's long-term solution to this problem is to wait until its subscription model is out of beta and revenues will go up. But their interim strategy of retaining publishers despite having no short-term revenue plan is failing. Medium's struggle is shared by other internet publishers struggling to figure out how to build a sustainable long-term subscription model while ad revenues collapse in the wake of Facebook and Google's dominance.