Creative crowdfunding goes up a gear
Creator community Patreon has changed it long-standing monetisation model. To date, the company has snagged 5% of all subscriptions and donations from supporters. Going forward, there will be three plans up and running to fund the platform’s more than 100,000 creators.
Starting in May, the crowdfunding outfit will offer Patreon Lite which attracts the same 5% fee, Patreon Pro, which has extra features – such as workshops with leading creators – and carries an 8% commission, plus Patreon Premium for ‘established creative businesses’ and with a ‘higher level of service’ where Patreon takes a 12% cut with a minimum fee of $300 a month.
However, this new set of fees applies to future not existing creators.
Patreon currently has 3 million supporters stumping up more more than $500m per year, though it’s thought the company can’t make a go of it on the old 5% model.