Patreon Is Paying $1 Million Every Month To Musicians, Creators
[UPDATED] Patreon is now paying more than $1 million per month to musicians, YouTube stars and other creatives. These payments are coming from 125,000 patrons who have pledged to support their favorite artists monthly. "The sum of these ongoing pledges constitutes sustainable, reliable salaries for professional creators around the world," the startup wrote in a blog post.
"It confirms a massive cultural shift that we all felt but had trouble describing. It’s a restless movement, developing simultaneously right now in arts communities around the world: The public is demanding to pay creators," the company wrote. "As the cost of consuming digital media drops to zero, the masses are beginning to visualize the peril on the road ahead for creatives, and now they’re doing something about it,"
Patreon did not share how many creators received payment.
The startup has received $17.1 million in funding in two rounds including a $15 million round in June of this year.
Listen a facinating interview with Patreon and Pomplamoose founder Jack Conte recording prior to launching the patronage site on crowdfunding and more here.