Patreon is an American membership platform that provides business tools for content creators to run a subscription service. It helps creators and artists earn a monthly income by providing rewards and perks to their subscribers. Patreon charges a commission of 5 to 12 percent of creators’ monthly income, in addition to payment processing fees.
Patreon is used by YouTube videographers, webcomic artists, writers, podcasters, musicians, adult content creators, and other categories of creators who post regularly online. It allows artists to receive funding directly from their fans, or patrons, on a recurring basis or per work of art. The company, started by musician Jack Conte and developer Sam Yam in 2013, is based in San Francisco.
Patreon users are grouped by content type, such as video/films, podcast, comedy, comics, games, and education. These content creators set up a page on the Patreon website, where patrons can choose to pay a fixed amount to a creator on a monthly basis. Alternatively, content creators can configure their page so that patrons pay every time the artist releases a new piece of art.
A creator typically displays a goal that the ongoing revenue will go towards, and can set a maximum limit of how much they receive per month. Patrons can cancel their payment at any time. Creators typically provide membership benefits (commonly in the form of exclusive content or behind-the-scenes work) for their patrons, depending on the amount that each patron pays.
Patreon enables supporters to become active participants in the work they love by offering monthly memberships, often at tiered prices. The company raised $155 million of Series F venture funding in April 2021, and the deal was led by Tiger Global Management.
According to pitchbook.com; en.wikipedia. Source of photos: internet
