Creatives face two major struggles in the online space: getting eyes (or ears) on their work, and getting paid for it. Patreon was founded to solve both problems with a platform that would provide a space for creators to host and promote their work, and offer supporters a way to show their support through a regular paid subscription.
Patreon has been a leader in the content subscription space since its founding, but recently has come under pressure from newer rivals such as Substack and Ko-fi. It has maintained its position by shifting its focus from being primarily a marketplace for supporters to find creatives that interest them to being a toolbox for content creators to promote their work. While the site's creatives value this approach it remains to be seen whether Patreon will be able to return to the growth it was enjoying in previous years.
Despite the inroads made by competitors and a troubling global economic outlook making finances tougher for content creators and their supporters, Patreon is still a leader in its space, with over its over 250,000 active creators having made $3.5 billion through the platform. It is going through a period of downsizing to focus on its core business, and is continuing to hire talent to improve its product and expand its marketing efforts.
Steph
Company Specialist at Welcome to the Jungle
