Patreon puts a different twist on crowdfunding for creative artists. Instead of focusing on a specific project, Patreon has fans, or “patrons,” pledge money for creators who post new content regularly, like a cartoonist who serially publishes Web comics.
“It’s different from Kickstarter because it’s not about one big project that requires lots of funding,” founder Jack Conte explained in an informational video on their website. “It’s more for bloggers, or Youtubers, or Web comics—anyone who creates on a regular basis.”
Youtube musician Conte founded the crowdfunding startup last year with his Stanford roommate Sam Yam, who built the website. Conte found that he could not make a living by posting his music videos to Youtube, so he came up with the idea of Patreon, which offers fans a kind of tipping service for their favorite artists.
Patrons agree to give a tip in the amount of their choosing for every time the artist releases new content. They also have the option to set a monthly limit to make sure they do not go over budget. In exchange for the pledge money, artists offer perks or rewards to their patrons.
When Conte publishes a video to Patreon, he earns directly from his patrons’ pledges, and he offers early access to concert tickets in return.
Using Patreon, Conte now earns about $7,000 per video from his patrons, which is a substantial increase from the $50 a month he would earn from advertising revenues through Youtube.
Patreon is proving itself to be a viabale alternative to Kickstarter. Just 13 months old, the startup has already raised $15 million from venture capitalists. Patreon offers a service that Kickstarter and Youtube do not: a way for Internet artists to pay the bills.
Photo: Patreon.com
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