Patreon offers creatives a more sustainable model for crowdfunding—ongoing micro-payments from interested benefactors.
Many writers dream of quitting their day jobs and becoming full-time freelancers. And while that is achievable, it’s a difficult prospect for poets, playwrights and midlist fiction writers. Writing organizations such as the Science Fiction & Fantasy Writers of America consider a minimum professional rate for fiction to be six cents a word. Many novels only receive advances of $5,000–$10,000. Think about your basic living costs. A book that took years to write may only cover rent for a few months. Making up the difference as a freelancer is challenging, to say the least!
The good news: Crowdfunding can fill that uncomfortable financial gap. Kickstarter and Indiegogo are great for funding specific projects such as novels, plays, anthologies and poetry collections. But if you’re seeking ongoing, monthly support for your creative endeavors, take a closer look at Patreon (patreon.com).
THE BIG IDEA
Launched in 2013, Patreon is conceptually the modern version of the old system whereby artists and writers sought out wealthy patrons for support—but the key difference is that popular Patreon creators are supported by dozens or hundreds of people rather than a single rich benefactor.