Patreon's growth is part of trend among digital creators toward direct revenue sources. Patreon has more than 200,000 creators and more than 7 million paying members, the company said. The growth of subscription podcasts, and of direct fan revenue in general, has propelled Patreon to a recent valuation of $4 billion. "We think there are a lot of future things that the creator is going to need and want to maximize their creativity and maximize their business, and that is what we are focused on." "Podcasting is just exploding right now and we are seeing that on our platform," Julian Gutman, Patreon's chief product officer, told Insider. Now, four years later, their Patreon has over 44,000 paying members, and is one of the top 10 earners on the platform, the company said. Hinds and Pensavalle launched the podcast in 2017. "Either we had to find a way to at least cover our costs and maybe make a little profit, or the dream was to find a way to make a living doing it."
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"We were spending a full work week making this podcast for free and we knew that wasn't sustainable," Hinds told Insider.
Patreon, which was an early mover in the online membership space.įor Patrick Hinds and Gillian Pensavalle, who cohost the true crime and comedy podcast "True Crime Obsessed," Patreon revenue gave them the stability to turn podcasting into a full-time career. But many creators have already built subscription businesses around podcasting using Podcasting giants like Spotify and Apple have begun to explore subscriptions, letting creators earn money from their fans by paywalling select content. Paid podcasts have been a hot topic this year within the creator industry.
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