I agree, Robert. I think book sales will continue to decline just like album sales did. I view Medium as a small gig. It may not pay much but it helps you gain visibility and hopefully some real fans.
One of the bands I play in did a gig at an “arts and crafts” festival yesterday. Afterwards as I was packing up, several people came up and said, “This was our first time hearing you, you guys were great. Do you have a website? When is your next gig?” That is how I view Medium. An audience where I will hopefully make a few real fans.
I imagine book reading and signings are attended mainly by fans. I doubt they grow a fan base much. Although I have no experience to justify making that statement.
I just hope the eventual “Spotify” of books pays better than the Spotify of music.
In the mean time, it’s probably not a good idea to quit our day jobs.