Patreon creators have made $1B from the crowdfunding platform’s 4M members, company says
The crowdfunding membership platform added 1 million members in just nine months
Patreon announced that its creators have earned more than $1 billion.
In its announcement Monday, the crowdfunding membership platform also said it has more than 4 million active members -- or patrons -- who subscribe to content.
Back in January, Variety reported that Patreon had more than 3 million patrons, so the company has increased membership by 1 million in less than a year.
Patreon announced Monday that its creators have earned $1 billion from the company's 4 million members. (Patreon)
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In its Monday announcement -- to celebrate its third “#ThankYouPatrons Day” -- Patreon compared what $1 billion and 4 million would look like in other contexts, including how many internet ads would have to be watched (131.6 million) to reach the funding amount.
According to Patreon, if all 4 million members bought tickets to the Louvre in Paris, the museum would be sold out for 143 days.
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Patreon was founded in 2013 by Jack Conte to be a way for fans to pay artists, musicians and other creators directly for their work, according to the company’s website.
Today, the service follows a subscription model, where members pay a specific amount every month for certain perks such as extra content or behind-the-scenes looks at artists’ content and process.
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Patreon is a private company and has raised just under $166 million from investors, including Index Ventures and Thrive Capital, according to Crunchbase.