Patreon, a membership site where anyone can turn their craft into monthly income, is getting serious about its business prospects.
Launched in 2013, Patreon caters to people who want to make money from their passions or pet projects. The platform, backed by more than $47 million in venture capital, is designed for podcasters, musicians, artists, video-makers and pretty much anyone else making something that isn’t already handsomely rewarded by the web’s business-model of choice: advertisements.
These “creators,” as they’re called on the site, range from unknowns and YouTube personalities to comedians of Adam Carolla’s caliber. Creators craft their own subscription tiers, offering patrons extras or rewards — say a bonus podcast episode — for contributing a small monthly sum, often $10 or less, to support them.
Wednesday, the San Francisco-based startup is upgrading its web and mobile apps, aesthetically and beyond, to present a more professional face to the world. The changes most obvious to visitors will be the cosmetic ones, including a new brand design and logo.
The bigger enhancements are a number of behind-the-scenes improvements, and a Snapchat-like app, for clientele who want to give more to fans and boost monthly income. Getting people paid is the whole point.
Patreon currently counts more than 1 million paying active patrons, which suggests that content, even in the age of internet freebies, is still worth something to some people.
The company says its on track to pay out $150 million this year to its 50,000 creators.
For its part, Patreon takes a 5 percent cut of funds pooled, leaving creators with 92 percent of fan contributions after credit card processing fees. The model is intended to be more generous than the ad-revenue splits offered by YouTube or Facebook, and the developer programs run by Apple and Google.
“I don’t buy that creators are worth what the web has…
Source: Mobile Tech Today