11–20 of 145 posts
Patreon is fighting the good fight so far, especially with YT promoting more disposable content with every passing day
People are moving all their eggs from Youtube to Patreon.
They probably have the biggest platform for paying creatives, I wonder when they'll ditch YouTube to get more control over their user base and increase their 5% margin.
> In exchange, Patreon takes only a tiny 5% cut.
I hope this is sarcasm, because if I had to pay 5% to make any other transaction I'd be fuming. With a marginal cost of facilitating a new patron near zero, I don't think creators or patrons will suffer this as Patreon grows.
Patreon is fighting the good fight so far, especially with YT promoting more disposable content with every passing day
Patreon is falling into the same problem, banning people who they don't agree with. People are moving all their eggs from Youtube to Patreon.
That means they're going to expect a lot of revenue. Which they plan to take on money that people give freely. I don't see that ending well.
A bigger problem than that they take a cut is probably some expectations management on why, what that cut does for everyone, and what it would mean to not have it.
What if there was a crypto-currency for this? :)
Earlier quoted context omitted.
Patreon is falling into the same problem, banning people who they don't agree with. People are moving all their eggs from Youtube to Patreon.
Do you have an example?
Patreon is fighting the good fight so far, especially with YT promoting more disposable content with every passing day
Patreon is falling into the same problem, banning people who they don't agree with. People are moving all their eggs from Youtube to Patreon.
That's less of a concern though, because Patreon is easier to replace than YouTube. The problem with YouTube is that, at least as long as the Internet chatter I hear is still accurate, YouTube itself is still losing money, so replacing YouTube involves being able to immediately hugely subsidize people watching lots of video, and to be willing to do so when it is demonstrated that even the market leader who gets all the good ad contracts is losing money, so there's no payday if you win. That's a tough sell.
Patreon can't literally be replaced in the legendary "HN denizen claims to be able to replace $X in a weekend", because dealing with taking payments takes longer than that. But it's feasible down in that range, and said replacement at least has a cash flow and a clear path to ramen profitability. It's gonna be a competitive field and Patreon has all the name advantage right now, but it's a feasible plan for a "true startup" of just a few people in a garage in a way that "let's replace YouTube!" isn't.
In fact there's at least three competing services I've heard of that already exist, and I have no reason to believe I've heard of them all.
That's a P/E of 60... Also this: > In exchange, Patreon takes only a tiny 5% cut. I hope this is sarcasm, because if I had to pay 5% to make any other transaction I'd be fuming. With a marginal cost of facilitating a new patron near zero, I don't think creators or patrons will suffer this as Patreon grows.
Fyi... for comparison, Kickstarter fee is also 5% of funds raised. https://www.google.com/search?q=kickstarter+fee
That's a P/E of 60... Also this: > In exchange, Patreon takes only a tiny 5% cut. I hope this is sarcasm, because if I had to pay 5% to make any other transaction I'd be fuming. With a marginal cost of facilitating a new patron near zero, I don't think creators or patrons will suffer this as Patreon grows.
[0] Holy shit is Pay Pal the most dysfunctional organization I've ever dealt with. Just verifying my identity as a business owner has meant weeks of me sending countless copies of my bank statements, phone bills and photo ID to Pay Pal staff because apparently comparing the address on the submitted documents with the one on file is too difficult a task. In the end it was easier to change my address on file so it matches the one of the submitted documents character by character (yay security theater). Of course when they finally verified my address I got an email that the copy of the photo ID I submitted suddenly was "too pale and is illegible as a result" and now I can't even access the verification process page...