Do you have any talents or skills? Are you good in Artwork or creativity? Or maybe, you have a passion to write or longing to become a popular writer and author someday.
If you are an aspirant musician who wants be a known a rock star and dreaming to create an impact in the music industry.
So you want to be popular?
Sounds easy enough. But…
The reality is whatever you are doing right now. Or what passion you are in to and you want to maximize your potential.
Talents or skills.
It will always need financial support to sustain and make your dreams possible.
The good news is, Patreon is always ready to come to the rescue and give you a chance to earn money out from it.
But, let’s figure out what is it first.
What is Patreon?
For you not to roll your eyes on how it works, it is best to know about Patreon.
This website took the tradition of wealthy individuals being a patron of the arts. It is combined with crowdfunding.
The funding relies on people to donate small money. Rather than just one or two funders donating a large amount of money.
In other ways, it’s like an ongoing Kickstarter and Indiegogo focus on funding project goals. It sets a financial target and that’s the primary goal of Patreon’s. Likewise, the “Crowd” becomes the patron.
The Patreon service was officially launched way back in 2013. It has become a driving force in the creative community. During that time, this was very popular among webcomic artists. Also to YouTube video creators, independent musician, and any similar content creators.
Actually, the word Patreon comes from a two words combination:
Patron means a person who gives financial or another form of support. And Eon word means an indefinite period of time and often used rhetorically.
How Patreon Works?
Patreon provides a multi-tiered subscription service. But the role of thumb is the higher subscription tiers will provide a higher level of service.
Below are the examples:
- Music teacher may give basic virtual lessons for $5 per month. And if advanced lessons with printable sheet music will cost $10 per month.
- If you are producing a channel on Youtube on a weekly basis. You might allow $1 subscribers a sneak peek of the available video for that week. And a $5 subscribers bonus behind the footage scenes.
- Patreon will take $5 cut and 2-3% standard processing fees. And this is considered the viable deal. Since they are responsible for subscription processing. And provide the page wherein the fans will be able to interact.
How do we Earn money with Patreon?
To earn money with Patreon, you need to make it sure that you were able to attend to the practical steps.
Here you go:
- Set up to get paid as a US creator on Patreon. You will receive your payment via stripe direct deposit or you will be paid through Paypal.
- Patreon will keep 5% of your income. This is how Patreon will make their money and there are fees depending on your method of payout.
- Through Stripe you will be charged $0.25 on every deposit.
- Via Paypal, you will pay $0.25 or 1% of the transferred amount ( Paypal caps that charge at $20 per deposit).
- You will need also to fill out a tax form if ever you will earn money above the smallest limit which is $600 per the calendar year.
Feel free to enter into the Patreon world and take advantage of the services they offered. And turn your audiences into a subscriber. Make a revenue stream out from your God-given talents and creativity. Furthermore, this is not the only way on how will you earn money with Patreon. But the secret for long-term success is nurturing your audience. And make them feel comfortable and together succeed in patronage.