---
title: "What’s Behind Patreon’s $4B Valuation?"
description: "Getty Images Patreon has been a keystone in the creative economy since 2013, helping over 200,000 independent artists, musicians, writers and others build broad subscription-based support from users f"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/33036005.md"
published_at: "2021-04-09T16:43:35.000Z"
---

# What’s Behind Patreon’s $4B Valuation?

> Getty Images Patreon has been a keystone in the creative economy since 2013, helping over 200,000 independent artists, musicians, writers and others build broad subscription-based support from users for their projects and lifestyles ... The company has reportedly distributed over $2 billion to creators over the past seven years and has accelerated in 2020 to $1 billion a year, relying on a 5-12% cut of revenues raised through a network of 6 million subscribers ... Amid hints that Patreon may take advantage of the SPAC boom to go public, Conte said he is fielding a lot of inquiries based on the heightened attention on the creator-driven economy, but there is no timeline for such an announcement.

![2019 VidCon](https://imageproxy.pbkrs.com/https://specials-images.forbesimg.com/imageserve/607083208e0e94c9f9c6d3e9/960x0.jpg/query-Zml0PXNjYWxl?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

Patreon has been a keystone in the creative economy since 2013, helping over 200,000 independent artists, musicians, writers and others build broad subscription-based support from users for their projects and lifestyles. The company has reportedly distributed over $2 billion to creators over the past seven years and has accelerated in 2020 to $1 billion a year, relying on a 5-12% cut of revenues raised through a network of 6 million subscribers. Some creators generate enough from member support to practice their art full time; others supplement their day jobs or free up enough time in their lives to engage in their creative pursuits without painful economic sacrifices.

No doubt Patreon has built an interesting and useful business with a sterling brand identity, but you have to squint awfully hard at those numbers to see a unicorn in the making. That’s why the company raised eyebrows this week when a $155 million investment led by new investor Tiger Global Management, with participation from Woodline Partners and previous investors Wellington Management, Lone Pine Capital, New Enterprise Associates, Glade Brook Capital, and DFJ Growth, rocketed Patreon’s overall valuation to $4 billion, up from the $1.2 billion level after its previous $90 million round.

One reason for optimism is that the pandemic created a surge in individual creative enterprise, with people working from home or laid off from their jobs, and a corresponding appetite for new art and entertainment from an audience unable to participate in the usual public activities. That’s helped Patreon scale its growth considerably, with the potential to capitalize on permanent changes in consumer behavior in terms of their willingness to directly support creators they like.

“I think what’s happened over the last year makes it very clear that the next 10 years will be the decade of the creator,” said Patreon CEO Jack Conte in a recent interview. “I’m excited for what this means for the leverage that creative people are about to have, the control that creative people are about to have.”

Another trend working in Patreon’s favor is the decline in revenues from online advertising, the suspension of in-person events, and changes in payment terms from platforms like YouTube. That has made it challenging for creators to generate stable and predictable income by selling ads on their site or scaling up their online audience on third-party platforms. Patreon enables creators to solicit support from fans in the form of small monthly payments, which entitle them to rewards such as exclusive content, online chat sessions and other forms of special attention. Patreon aggregates the payments to create an economy of scale, and charges its members a 5-12% fee depending on which of the three levels of membership and service they opt for. Basic level provides access to the site’s online services, while top level members get personalized Patreon resources to help them build and nurture their audience.

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Conte said that while the category of individual creators has grown massively in the past decade, few businesses truly support the creators themselves rather than the advertiser community. Patreon allows creators to scale their income independent of factors outside the artist’s control such as ad rates or platform reimbursement models. Consequently, he said, many Patreon creators double their revenues in a year and triple their revenues in two years by appealing directly to their fans for support.

Patreon has grown on both the creator and subscriber side, and sees further potential by taking its business model global. In the past year, the company has added support for popular international currencies and languages.

Conte said Patreon will use the $155 million capital infusion to support the creator community by developing new experiences and modes of engagement, as well as fueling continued international expansion. The company also plans to expand its workforce.

Amid hints that Patreon may take advantage of the SPAC boom to go public, Conte said he is fielding a lot of inquiries based on the heightened attention on the creator-driven economy, but there is no timeline for such an announcement. “We’re not focused on that as a company,” he said. “We are hyper-focused on building value for creators, helping them make money and build their businesses.”

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.