If you’re an independent creator, it’s likely that Patreon is a platform that you call home. Nearly 100,000 creators do. The platform has achieved notable traction in a relatively short period of time. It’s reported that by 2018, they’d process nearly $1 billion. Cofounders Jack Conte and Sam Yam’s creation launched in May of 2013 after Conte grew frustrated by Youtube’s lack of alternative monetization. As the story would go, Conte beta-tested the site with his own personal Youtube audience and began raking in $7,000+ per video. Youtube’s monetization would earn him a little more than $50 for the same work. Fast forward five years and Patreon is synonymous with patronage, as much as Kickstarter is synonymous with crowdfunding.
Pictured: Katrina Lake, Founder and CEO of Stitch Fix
Subscription models are replacing legacy commerce models throughout the industry — from eCommerce to digital media to fashion retail and grocery — the benefits to this model have been welcomed by both businesses and consumers. Business has evolved into the subscription economy and adoption is only going to increase. One of the foremost issues in this new economy will not be acquisition (CPA), it will be retention (LTV).
Introduction to intra-package advertising. About four months ago, a few things happened in a short period of time. There began early conversations around Facebook and Google’s privacy shortcomings, marketers began discussing ever-increasing top funnel advertising costs, and I began thinking through methods for vertical brands to offset their growing logistical costs. To solve for all three, I proposed a simple solution to a few high-volume, brand equitable retail startups: offer promotional space within your existing packaging to a like-minded brand. Add value to a buyer’s unboxing experience.
