TLDR: Pay attention to Patreon, the economic engine for the creative class
By The Verge
This summary is provided by Annotote, a network that’s the most frictionless transmission mechanism for your daily dose of knowledge. Have a minute? Get informed. All signal/no noise is only a click away: Try Annotote today!
Leading the way for artists in the subscription business model era…By The Verge >>> Annotote
“ song sales on platforms like iTunes were unpredictable, YouTube advertising revenue was “minuscule,” and … sponsor deals were legally complicated.
“ Patreon was similar to crowdfunding sites like Kickstarter and Indiegogo, but instead of pledging toward a one-time campaign, supporters could offer to pay a few dollars every time Hollens released a music video, with Patreon taking a 5 percent cut.
“ [Jack Conte, CEO + cofounder:] We want to fund the creative class … we want kids growing up and graduating college and high school to know that being a professional creator is possible.
“ Patreon isn’t simply a replacement for record labels or TV networks, though. Instead it’s the ideal incubator for niche internet subcultures, where a small but dedicated group of fans can directly support work they care about.
“ The Patreon model encourages people to see themselves not as consumers, but as members of a private club, free from the constraints of mainstream gatekeepers … it’s blurred the lines between art, artist, and audience
#p2p #peer to peer #disintermediation #middleman
“ today, Patreon boasts 50,000 active creators and over a million active patrons.
“ the site has helped her identify a core audience whose opinions she trusts. “If my patrons request something, I know that, you know, these are the people that are supporting me. They’re not just some jerk on the internet,” she says. “It clears out all the noise.”
“ It would take some major redesigns to turn Patreon into an offline platform for physical performances, for instance
“ Because donations are recurring, it’s somewhat easier to project earnings for Patreon than for one-off crowdfunding sites
^ Patreon’s model is monthly subscriptions, not finite campaigns.
#ARR #MRR #SaaS
These highlights provided for you by Annotote. Leave your mark now!