I’ve spent the last 15 years working on great products from Beatport & Hired to Shutterstock & Optimizely. However, prior to this life in product, I led a very different existence — that of a creator, or more specifically a DJ, musician and record label owner for over 12 years starting in 1992. I had an amazing career DJing, traveling and making electronic music, but after a decade I didn’t have much to show for it financially. I walked away from the music industry (and Beatport) in 2009 still living check to check just making ends meet and swore I’d never go back to music. Gigs come and go, you release a single and get popular for a while and then no one remembers what you did a few months later. Sometimes, even a few years into my career, I found myself waiting tables as a side gig to make things work. It was just so damn hard to make a steady living — no matter how prolific I was as a creator.
The macro-trends driving Patreon’s growth
Content consumption via ad platforms’ popularity has peaked and we are seeing a shift in consumer expectations (less ads please!).
On the content creator side of this equation, ad platforms are unable to provide a sustainable living for creators and are at an all-time low in terms of creator trust.
Some of the most promising up-and-coming media / news organizations struggle to grow and need to pivot to new business models.
Big national news outlets (ex: The New York Times and The Washington Post) have focused on growing a subscriber base to help stabilized their business.
The quality of content has been driven down to the lowest common “click-bait” denominator because of the dysfunctional relationship between publishers and ad networks that serves neither readers or advertisers.
Consumers are willing to pay for high quality content that provides signal through the noise of their numerous feeds.
Content creators need a new model that generates a steady income allowing them to do their best work.
The Patreon Team.
I’ve had so much fun getting to know Jack Conte, Sam Yam and the team at Patreon. They are a sincere group of people who have the best interests of creators in mind. I’m positive that through the good times and the bad, the heart of the organization will show through —it’s a company built by creators for creators. Everyone here knows this idea is big, creators can make a steady living that grows year over year powering a new creative class.
The job to be done on behalf of creators is the development of a world class business platform, providing all the analytics, rewards and membership features to help creators generate a steady recurring income. The job is also to be the constantly improving pillar that creators can count on month-over-month while all their other distribution channels remain so volatile. Patreon can both power sustainable businesses for creators, while being a sustainable business in its own right. We are funding the creative class and I am excited to be a part of that story.
