Stop the Secrecy

USA Today: The Internet is updating a very old idea

Fri, 10/31/2014 - 14:30 -- Eva Prkachin

Learn how artists are sidestepping old media empires and using the Internet to make a living off their work

Article by Marco della Cava for USA Today

"The pitch is simple," says Conte, who despite being the company's CEO doesn't currently take a salary because he wants to be able to relate to his users. "People like my videos, some of which can cost me thousands to make. So I just ask, 'How about giving me $1 to help me make my next one?'"

His call has been answered. Today, Conte has more than 1,000 patrons who provide $5,000 or more for each video. Some 38,000 artists from around the world now use the site to raise money for their digital art. Patreon just hit $1 million in monthly patron donations, up from $20,000 a month last summer.

"That particular growth graph looks very appealing to investors," Conte says, adding that Patreon's business model is anchored to a deliberately simple 5% take of pledged dollars. "As an artist, there's nothing I hated more than seeing my check split up a thousand ways, so I wanted to stay away from that."

- Read more at USA Today