Patreon is a New Subscription That Helps Ideas Becomes Products
Alasdair Redman — January 19, 2015 — Pop Culture
References: techcrunch & theguardian
Patreon is a website that has very similar ideas and methods to the website Kickstarter in that the fans are able to help their favorite online creators continue to make the content that they love so much.
Patreon differs from Kickstarter in one major facet -- donations are not a one time deal; instead, they are a month-to-month investment, which may seem like a lot but when you remember that most online creators don't receive millions of dollars to produce their work, you begin to understand why the site's creators want this kind of commitment.
What makes Patreon great is that all the money goes back to the creators which means with no middle man they are able to spend that money continuing to make great content for the viewers.
Like Kickstarter, a prize pool can be added. Though it is not necessary it allows the creators to give back to the viewers who help them continue their dreams.
Patreon differs from Kickstarter in one major facet -- donations are not a one time deal; instead, they are a month-to-month investment, which may seem like a lot but when you remember that most online creators don't receive millions of dollars to produce their work, you begin to understand why the site's creators want this kind of commitment.
What makes Patreon great is that all the money goes back to the creators which means with no middle man they are able to spend that money continuing to make great content for the viewers.
Like Kickstarter, a prize pool can be added. Though it is not necessary it allows the creators to give back to the viewers who help them continue their dreams.
Trend Themes
1. Monthly Crowdsourced Subscriptions - The trend of monthly crowdsourced subscriptions allows online creators to receive ongoing financial support from fans, enabling them to continue producing content.
2. Crowdfunding Platforms - The rise of crowdfunding platforms like Patreon and Kickstarter provides disruptive innovation opportunities for creators to directly receive funding from their audience.
3. Direct Fan Engagement - The trend of direct fan engagement through platforms like Patreon fosters a closer relationship between creators and their audience, offering opportunities for personalized content and experiences.
Industry Implications
1. Creative Content Creation - The creative content creation industry can leverage the trend of monthly crowdsourced subscriptions to generate recurring revenue and sustain the production of innovative content.
2. Technology Platforms - Technology platforms that enable crowdfunding, such as Patreon, can disrupt traditional funding models by providing a direct channel for creators to receive financial support.
3. Entertainment and Media - The entertainment and media industry can explore the potential of direct fan engagement through platforms like Patreon to enhance audience loyalty and monetize fan support.
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