Patreon Raises Some Prices, Reports 100K Creators Earn $500M Yearly
[UPDATED] Patreon has added new tier pricing which mean higher fees for many new creators using the fan funding platform. To take advantage of the lower grandfathered rates, creators must Patreon in the next few weeks before the new rates hit in early May.
3 million fans now pay 100,000 creators more $500 million a year on Patreon, It will cross $1 billion in payouts in 2019, six years after launching.
The rate increase has been long anticipated by many who questioned if Patreon could survive at its current 5% basic rate. That it grandfathered in existing creators at existing rates will surely win praise for Patreon founder Jack Conte and his 170 person team.
A Patreon Lite version will still be at the 5% rate. But all of Patreon’s extra features are now be in a Pro plan with an 8%, but existing creators are grandfathered in at 5%. A new Premium enterprise plan will cost 12% or 9% for existing creators and include merchandise sales, multi-user team accounts and dedicated customer support.