Membership services startup Patreon has paid out over $1 billion to creators since its launch in 2013, the company announced Tuesday. Now, Patreon is getting ready for an international expansion, w…
is getting ready for an international expansion, with a particular focus on Europe, Patreon’s senior vice president of product Wyatt Jenkins toldIn addition to the $1 billion payout milestone, Patreon also announced Tuesday that it had surpassed 4 million paying members, or patrons. Patreon previously hit $500 million in payouts in Q4 of 2018, and 3 million patrons in January of this year. “This is growing quickly,” Jenkins said.
Creatives like Patreon because it promises stable, recurring income, Jenkins explained. “Most revenue streams are really volatile,” he said. Patreon, on the other hand, “feels a lot like a paycheck,” he argued. “You have these members sign up, and they stay with you for years.”. The changes included a new entry-level tier that makes it easier to start a basic membership program.
In addition to these product changes, Patreon is also looking to expand internationally for further growth. Jenkins said that the company already has patrons from all over the world; but to truly cater to creatives abroad, it needs to localize its website, sign up local payment processors, and more.
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