On Patreon, those who create content have the opportunity to monetize their expertise as well as their work. It’s a site for crowdfunding where professionals and hobbyists can accept monetary donations, most of the time in the form of recurring monthly payments.
For a significant portion of history, musicians, artists, playwrights, and other creatives received their financial support not from the cash generated by sales of their most recent release but rather from wealthy individuals or organizations. These art supporters supported creative individuals whose work they admired, providing them with the financial freedom to continue producing art. If at all, commercial success was a variable that infrequently appeared in the analysis.
Patreon is a platform that enables creators to develop communities around their work while also enabling fans to support the makers of their favorite content financially. It acts as a conduit for fans to donate money to the creators of the content they enjoy. Jack Conte, a musician and YouTuber established the company in 2013. Since then, it has expanded to become a thriving online ecosystem for content creators and is now valued at $4 billion.
How It Started
Patreon.com was established in the year 2013. Jack Conte, an American musician, is credited with founding the company. Conte is responsible for recording cover versions of well-known songs and uploading them on YouTube. He currently has approximately 100,000 subscribers. At that precise time, he was miserable because he could not earn sufficient money from advertising.
Jack Conte thought some of his listeners had no problem providing him with financial support. He came up with the concept of a platform that could facilitate this and contacted his former roommate at Stanford, a developer named Sam Yam. They worked together to establish a platform that allows patrons, sometimes known as donors, to pay content creators.
When we started our endeavor, there were only three accounts on Patreon to support our efforts. Conte extended an invitation to participate on the website to forty different creators, but nobody accepted. But once word got out that Conte was receiving thousands of dollars from patrons, hundreds of creative individuals signed up for the platform.
How It’s Going
Who can earn on Patreon? Various professionals can make money on this site, such as:
- video bloggers
- game developers
Patrons can subscribe to the author’s work and pay them a predetermined monthly amount (beginning at $1). In addition, content producers can solicit one-time contributions from customers in exchange for a variety of additional perks. For instance, producing a tutorial video might be one such purpose.
The history of Patreon is important because it exemplifies a company that bases its operations on the satisfaction of its customers and, by providing its patrons with increased agency, meets the requirements of an evolving online media ecosystem. It is likewise the case in the new media environment, where the old distribution routes and the gatekeepers of those channels have been entirely circumvented. This makes it possible for various voices to engage directly with their listeners, which has positive and negative implications.
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