Patreon changes have creators concerned they’ll lose income, supporters (update)

Patreon is changing the way pledges to creators are handled, with many in the creative community concerned this will lead to smaller incomes and fewer subscribers. Launched in 2013, Patreon is a crowd-supported service that allows people — patrons — to financially support artists, writers, podcasters, musicians, journalists, game developers, models and other entrepreneurs. Patrons are encouraged to pledge either a monthly or per-post subscription that allows them access to new, often times exclusive pieces from the creator they’re supporting. The shift in the way Patreon’s servicing fees are processed can get complicated, but here’s the gist of the updated model. As it stands right now, before the changes happen, creators cover Patreon’s five percent fee and all of the service processing fees. Simply put, if a patron wanted to pledge $1 to a creator, they would pay exactly $1 and not have to worry about an additional processing cost. According to the company, this resulted in creators losing anywhere from seven to 15 percent of their income covering fees. On Dec. 18, a new model will standardize that fee. Creators will only pay five percent of the processing fee, instead of the seven to 15 percent, because those who… Read full this story

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