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Patreon Announces New Payment Structure; Artists to Keep More Money

Content creation platform Patreon has announced plans to restructure the way music artists using the platform are paid.  The move means artists creating content on the platform will now keep 95% of all money pledged, up from the current figure of between 80% to 88%.  The announcement came in an e-mail Patreon sent to creators on Wednesday. 

 

The restructuring creates a new service fee of 2.9% plus $0.35 that will be footed by patrons.  The e-mail from Patreon says the company ran experiments to "understand patrons reactions" and found that patrons were happy knowing content creators would keep more of the pledged money.

 

The following graph was included in the e-mail:

 

The change will be implemented December 18th.  Patrons are scheduled to receive an e-mail announcing the change at some time tomorrow.

 

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