This is both good and bad news. On the plus side, Medium mostly addresses the tech elite. This is a premium audience, attracted by quality, more likely to pay for information; on the supply side, publishers on Medium are more likely to go for a revenue sharing coming from subscriptions, as opposed to see their beloved publication infested with toe fungus ads.
On the minus side, as opposed to Buzzfeed, for instance, Medium is not a mass/general public destination, and will never be, even if it claims 60 millions monthly unique readers. This puts a ceiling on its potential for advertising growth — anyway a broken model, according to Ev Williams.
This throws some interesting light on recent moves at Medium.