What's Patreon & How Does It Work? A Streamer's Guide
Becoming a professional streamer is one of the most common aspirations that people have today. Starting your own business and becoming your own boss is more appealing than ever today. That said, making money streaming is one of the most difficult things to do.
Only about half of all streamers have even made a penny doing it. And of the people who have actually made any money, the average person only makes about $1,264 a year. Streaming is a tough, competitive industry. So, what’s the secret to breaking through the barriers to make some meaningful money?
There are many answers to that question, but one of the biggest is Patreon. Streamers who use Patreon can make far more money doing what they love than streamers who don’t. So today, let’s walk through what Patreon is, why you should be doing it, and how it works. Let’s get right to it.
What Is Patreon?
If you haven’t heard of Patreon, know that it’s one of the best things to happen to creators on the internet. Patreon is a monetization platform that provides you with resources and tools to sell digital products through a subscription service.
Essentially, your fans can pay a small monthly fee to get exclusive access to special content and perks. It’s a way for your super fans to support you in a more direct way, and, in exchange, they get to be on a special corner of the internet that’s just for you and them. It’s sort of like crowdfunding but on a continuous, subscription basis.
How Does Patreon Work?
Patreon is super easy to use, both for you and your followers. You simply set up your account, and Patreon gives you everything you need to start posting to your new private social media feed.
Most Patreon content creators have a few different tiers of subscriptions. Patreon recommends having three tiers. One low-cost tier with a few benefits, a middle-cost tier with a bit more exclusive content, and a higher-cost tier with tons of exclusive and valuable perks.
Users simply look for their favorite creators, select which tier they want to subscribe to, put in their card information, and then get access to the exclusive feed.
What Do Creators Post on Their Feeds?
You can post just about anything on your feed. Post exclusive podcast episodes just for your Patreon subscribers. Give unique game tutorials for your die-hard, sweaty fans who love the game just as much as you do. Post unhinged rants of your choosing.
Take surveys about what content you should post next. Do special live streams just for Patreon. Offer exclusive, patron-only merch drops or give early access. Or just chat with your biggest fans and supporters. There are plenty of possibilities.
Gamers can even create custom skins for their game of choice and make them available only to their Patreon subscribers!
How Much Does Patreon Take?
It is completely free to set up a Patreon account and start posting all the content you want. There are two different commission tiers you can choose from: Pro and Premium.
The Pro tier is Patreon’s basic pricing tier. They provide you with the platform, membership tiers, engagement tools, free trials, special offers, and analytics on how your Patreon is doing. In exchange, they take eight percent of the money you earn from Patreon.
The Premium tier offers everything that the Pro offers and more. You also get access to a dedicated partner manager, separate accounts for members of your team, and merch for membership so your fans can have exclusive merch from your Patreon. The Premium tier takes 12 percent of all income from your Patreon.
Patreon will also take a small payment processing fee in addition to their commission percentages.
Compared to the 45 percent that YouTube takes, Patreon is killing it. Even with a smaller following, you can still make pretty decent money through Patreon.
When Do I Get Paid?
Patreon pays its creators on a monthly basis. On the 5th of every month, you’ll get your balance sent to you via the method of your choosing. It can be as simple as a direct deposit straight into your bank account or PayPal. It’s super simple and very easy to keep track of.
Is It Really Worth It?
The short answer is a big YES! If you want to make money as a streamer, one of the most important things you can do to have a successful small business is diversify your income. You can’t just make money from Twitch. You need to get income from a variety of different sources so you can have sustainability and longevity.
Patreon offers you one extra source of income that you can rely on. YouTube ad revenue can be pretty up and down. Same with the TikTok Creator fund. But you know exactly how many Patreon subscribers you have, so you know exactly how much you’re going to make every month from Patreon.
This level of predictability is such a valuable asset for streamers. Even if your other revenue streams are up and down, your Patreon can be a solid foundation of income alongside your Twitch channel to keep the whole thing afloat, all while offering you a chance to connect with the core members of your fanbase.
How To Get Started With Patreon
Hopefully, now you see the value that Patreon can bring to you as a streamer. And with that, let’s jump right into how you can get started with Patreon and give you some tips on how to best create content for your patrons and find success on your new platform.
1. Gameplan
Before you create your Patreon, it’s important that you develop a launch strategy so everything can go well right from the start. The main thing you need to come up with is what type of content you’re going to offer your patrons so that it’s worth it for them.
It’s important to offer content that highlights you as a streamer and shows off the best version of yourself. You’re offering Patreon memberships to your most die-hard fans. They already love you, so give them more of what they want!
You also need to develop a simple business model for this membership platform. Decide how many tiers you want to have and how much each of them will cost. If you’re just starting out, start at one tier and work your way up to more.
You also need to decide how often you’ll post on your Patreon. Post often enough to make it worth it for people to subscribe but not enough that it takes away time or viewership from your main platforms. Once you know how much you’ll post, you can have a better idea of how to price your memberships.
Next, you need to pick a Patreon name to go by, choose a profile picture that’s 1024px by 1024 px, and choose a cover photo that’s 1600px by 400 px.
2. Setup Your Account
Now, visit patreon.com and hit the “Create on Patreon” button. It will take you through the account setup process. Follow the prompts and input all of your information. You’ll also need to disclose if your Patreon includes any adult content.
After that, you’re ready to get started. Setting up your account takes a matter of minutes, making it easy for you to jump right into creating content.
3. Complete Your Launch Checklist
So you have an account, but there are a few things you’ll want to do before you actually launch your Patreon. Fill out the box that describes your Patreon so fans know what they’re getting into. Take some time with this. Make it short but informative and fun!
Now it’s time to share your waitlist page. Spread this page to your fans, letting them know that your Patreon will drop soon. This starts to build hype, which is always a good thing, and it will notify them as soon as your Patreon launches.
4. Make Some Content
It’s highly recommended that you create some content and post it to your Patreon before you announce it to your fans. You want to make sure that once they get their monthly subscription, they don’t have to wait around for you to post new content.
Patreon also offers integrations with certain other platforms. For example, it can turn your audio posts into podcast episodes that appear in your patrons’ podcast app of choice, making it super easy for them to ingest your amazing content.
5. Launch Your Patreon!
Now that everything is in place, it’s time for your Patreon page to go live. You’ve officially joined the club of Patreon creators who are making money and connecting with their biggest fans.
As soon as you launch, plug your Patreon across all your social media accounts. Get the word out about your exclusive content. There is now an official secret club with your name on it. Let your fans know what they’re missing out on, create a lot of hype around it, and you might just get tons of Patrons and watch your monthly income explode
How Patreon Can Help You as a Streamer
Whether you’re an artist, entrepreneur, social media influencer, or gamer, Patreon can be a place that gives you stability in your field. Patreon earnings can be the difference between you streaming in your free time and you making it your full-time job. So what are you waiting for? Launch your Patreon today and see if it changes your life.
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Check out Powder today to get started.
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