Monday, May 27, 2013

A New Revenue Stream For Musicians

Patreon Subscribe menu imageWhile a Kickstarter or Indie Gogo campaign is all the rage for artists to fund a recording these days,  another twist on an old idea may give traditional crowdfunding a run for its money. A new site called Patreon, labeled as a "fundraising" site, allows fans to subscribe to the artists they follow and receive "patrons-only" streams of their work.

The brainchild of Pomplamoose's Jack Conte and AdWhirl founder Sam Yam, the site allows fans to perform the age-old function of patron. The difference from European royalty is that instead of a large lump sum bestowed upon the artist, each patron can contribute a small amount (think of it as a tip) every time the artist releases a piece of content. The content can be videos, songs, blogs, articles or recipes or anything other "art" that comes on a regular basis.

A patron receives more than the stream though, as they also have the ability to post in the artist's stream and can unlock additional patron packages like private Google+ Hangouts or tutorials with different levels of support.

It's a cool idea and just another way that an artist with a fanbase (that's the key here) can create a new income stream. Check out the video below for a more detailed description of Patreon.


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