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♪♪♪

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Which company is shifting
its focus

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to make its business more
sustainable?

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We're about to break that down
Coming up on deBanked News.

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Content creators like Brandon
Stanton, the man behind

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"Humans of New York", and famous
YouTuber Philip Defranco, are

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generating some serious revenue.

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Something they both have in
common is their use of Patreon.

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Patreon is a membership platform
that makes it easy for creators

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like these to get paid by
providing payment and
subscription infrastructure.

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Recently, Patreon announced it
will be creating a new service

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called Patreon Capital. The
service will allow its users

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to access funding by offering
cash advances. The move comes
after its CEO said that

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"The reality is Patreon needs
to build new businesses and new

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services and new revenue lines
in order to build a sustainable
business.

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The new product is already being
compared to Shopify,

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another e-commerce business. It
offers a similar service to its

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users called Shopify Capital.
Patreon capital will charge
customers

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a premium on funding, as is
standard for cash advances.

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But will the system work?
deBanked President Sean Murray

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says, "Square, Stripe, Amazon
and others like them are

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suggesting that this model could
be the future for e-commerce
platforms and payment services.

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Patreon Capital could certainly
be a success but we'll see."

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Patreon currently has over
100,000 creators on its platform

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and over 300,000,000 active
monthly users. It has paid out
over $1,000,000,000 to creators

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from fans that use the service.
We'll provide more information about
Patreon Capital as it becomes
available.

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I'm Johny Fernandez with deBanked
news. I'll see you next time.

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♪♪♪