Patreon Raises $15 Million in Funding…

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Patreon is a platform that allows fans to directly support their favorite creators. The platform was previously profiled on Digital Music News.

Last year, Patreon raised $2.1 million in seed funding. Now, they’ve raised an even larger amount of money.

Patreon has raised $15 million in Series A funding. The round was lead by Index Ventures. Money came from Reddit’s co-founder Alexis Ohanian, PayPal’s former president David Marcus, and others.

25,000 creators use the platform. These creators have received a total of $2 million in funding from fans.

8 Responses

  1. Anonymous

    These are nice guys.

    But I followed one of their video conferences last week, and they were apparantly not aware that YouTube’s going to screw them over, too (e.g. YouTube’s going to launch its own on-site crowdfunding).

    • Anonymous

      …it’s also important to note that artists that have signed with YouTube no longer are allowed to release any songs or videos to a limited number of patrons.

      YouTube artists are now forced to release their entire catalogues — including all artwork, lyrics, behind-the-scenes videos, etc. — on YouTube on the same day they release such content anywhere else.

      So the days of exclusive content for patrons are over.

        • Anonymous

          Sorry — every single word is true!

          You simply haven’t heard about it yet, as it only goes for the new YouTube contract (I assumed everybody had read it by now).

          You can find the contract on Digital Music News front page today, and it changes everything. Here are the most important details:

          “Catalogue Commitment and Monetization. It is understood that as of the Effective Date and throughout the Term, Provider’s entire catalogue of Provider Sound Recordings and Provider Music Videos (including Provider Music Videos delivered via a third party) will be available for the Premium and Free Services for use in connection with each type of Relevant Content, (excluding AudioSwap Recordings, which will be at Provider’s option) and set to a default policy of Monetize for both the Premium and Free Services, except as otherwise set forth in this Agreement. Further, Provider will provide Google with the same Provider Sound Recordings and Provider Music Videos on the same day as it provides such content to any other similarly situated partners. The foregoing will be subject to reasonable quantity of limited-time exclusive promotional offers (in each case, with a single third party partner) (“Limited Exclusives”), as long as a) Provider provides Google with comparable exclusive promotional offers and b) the quantity and duration of such Limited Exclusives do not frustrate the intent of this Agreement.”

          So yes, YouTube will indeed force you to make your entire catalog available for free on YouTube on release day — online AND off-line, by the way. So don’t expect to sell anything ever again on iTunes as long as you’ve signed up with YouTube (which means 5 years from the day you sign).

          • Anonymous

            I wish it were a lie. But it’s all there in the contract.

            I’d like to see a comment from Patreon on this. Also on the fact that YouTube is launching its own on-site crowdfunding.

            I wouldn’t be surprised if it means that users no longer may use competing 3rd party crowdfunding services on YouTube.

          • Peter Hollens

            There’s 100% no chance that youtube would stop creators from funding ways to make BETTER content for their platform… Kickstarter, indiegogo, Patreon etc would fight them tooth and nail… It’s just not possible.

  2. hippydog

    I must admit, i took a quick look at Patreon, I’m kinda impressed, and a little shocked at the amount people are already paying out, and its just begun..