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If they know Patreon isn’t going to run out of money any time soon, they may be more enthusiastic about building a subscriber base for the long-run on the platform.ĭeeper pockets could also allow Patreon to build out its suite of bonus tools for creators, some of which it could charge extra for. But this big infusion of new capital could boost the confidence of creators in the platform.
#PATREON MAN OF THE HOUSE SERIES#
Patreon had raised $47.1 million to date up through its January 2016 $30 million Series B led by Thrive Capital and joined by Index that also participated in the Series A. “ Advertising? It doesn’t pay enough. Consumer payments has to be come a bigger portion of the financial mechanics that support art.” So in 2013 he co-founded Patreon, “whose mission it is to fund the creative class” he told me in June. Musician and videographer Jack Conte had struggled to earn enough from his work, and found one-off project crowdfunding platforms like Kickstarter didn’t provide the steady capital artists need to focus on creativity. With some more marketing to boost awareness that Patreon pays out 95%, and that direct payments from fans deliver many orders of magnitude more revenue that ad views, Patreon could gain ground.
While those two have massive user bases and teams to court artists, they only pay out 55% of the ad revenue earned off a creator’s content. The cash should give Patreon the muscle needed to compete with other big platforms that help creators monetize, including YouTube and Facebook’s new Watch tab of original video.