Jack Conte: Last News

COVID-19 pandemic was no longer viable.A post shared by Jack Conte (@jackconte)“I take full responsibility for choosing that original path forward, and for the changes today, which will be very difficult for our team,” the CEO said. “In response to the changing environment, Patreon needs to change the way we operate.”You can read the full statement here, and see Conte’s message on Instagram above.Founded in 2013, the site has built a community of eight million members, and more than $3.5billion has been paid to creators since the company’s inception.During the early lockdowns, Patreon grew significantly due to creators seeking alternative revenue streams amid cancelled live tours and in-person events.Numerous well-known musicians use the service, which gives paying subscribers access to exclusive content via various monthly membership tiers (priced at either £1, £5 or £10, for example).

Todd Spangler NY Digital Editor Creator subscription platform Patreon has acquired Moment, which provides a platform for hosting and ticketing livestreamed events. Terms of the deal weren’t disclosed.

Todd Spangler NY Digital EditorPatreon, whose platform lets creators earn money from fans through subscriptions, has raised $90 million in new funding. The seven-year-old company says it now has a valuation of $1.2 billion, and it’s planning to use the financing to expand internationally and beef up tools for creators (and their fans).Patreon CEO Jack Conte, in a video announcing the funding Tuesday, said the company has never disclosed its valuation before “because I didn’t want to make it about Patreon — I wanted to make it about our creators.” He also said “it’s a significant moment and I do want to give it the gravity it deserves.”“This level of belief in Patreon is proof… that the world is changing,” Conte said.