Continuous crowdfunding service Patreon just hit a new milestone: $1m of payouts every month to the musicians, YouTubers and other creators raising money from their fans using its site. “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,” claimed the company in a blog post. “The public is demanding to pay creators. 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… In less than a year and half, over a 125,000 people have become patrons of creators on Patreon, paying them over a million dollars every month.” The company raised $15m from more conventional sources – VCs and talent agencies – earlier this year to fuel its growth (Bulletin, 24-Jun-14).
Visited 1 times, 1 visit(s) today