Is Patreon Profitable 2024?

About Patreon

Patreon is a membership platform that allows creators, artists, podcasters, authors, etc., to monetize their work by gaining subscribers.

Who Founded Patreon?

The company was founded in 2013 by developers Jack Conte (Founder & CEO) and Sam Yam (Co-Founder & CTO).

Patreon’s Business Model Explained

Patreon runs on a commission-based business model with three plans that cater to the different needs of the creators on the platform.

Annual Revenue Of Patreon

It can be estimated that Patreon’s current annual revenue is $194.7M per year.

Patreon’s Valuation

In 2022, the company saw a 70% drop in its 409A valuation and laid off 17% of its workforce. However, currently, the valuation of Patreon is estimated at $4 billion and has tripled since 2020.

Is Patreon Profitable?

In an interview with CNBC, the CEO & founder of Patreon, Jack Conte, said that because of their company’s generous pay-out model, they might soon be facing a challenge to remain profitable.