A PLATFORM FOR FANS TO SPONSOR THEIR FAVORITE ARTISTS

Back in 2013, musician Jack Conte spent 50 days recreating the Millennium Falcon from Stars Wars for a music video, maxing out credit cards and draining his savings to fund his vision, even though he knew he’d likely earn just $100 from it via Youtube ads. “I got sick thinking about all of this time, energy, money and for what!? $100? The creative system was clearly broken for artists. There had to be a better way.”

Conte’s solution, built with former college roommate Sam Yam, an experienced coder and start-up veteran: Patreon, a first-of-its-kind platform that allows fans to directly sponsor their favorite musicians, artists, gamers and other creators via a recurring monthly or annual membership, often in exchange for exclusive access, bonus content, voting rights to determine the artist’s next project and other perks. Says Conte: “We’re allowing people to make a living doing what they love.”

Patreon really took off during the pandemic when artists, stymied by the inability to earn income from concerts, festivals, galleries, craft markets and other public gathering spaces, turned to the site as a lifeline. Creators have joined in record numbers over the past two years, bringing the current total to 250,000, supported by some 8 million fans; artists’ earnings over the period have tripled as well, according to the site. Next up: Conte is planning an offering that will allow creators to host videos directly on the site (vs. uploading from third-party platforms) and has teased interest in diving into cryptocurrency with its own digital token. —k.r.