Patreon Review 2020: Worth It Or Not?

Patreon gives music lovers a direct way to support artists they love.

The platform has hundreds of thousands of creators and millions of patrons.

Clearly, they’re onto something.

But is it a legit way to make money as a musician?

I have a Patreon page for my music. So I want to share my experience and give you an overview of its features, pros and cons, and cost.

So let’s dive into this Patreon review…

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What Is Patreon?

Patreon is a platform that allows fans to support their favorite artists financially on a regular basis.

Depending on how the artist sets up their page, fans will support either monthly or on a per-creation basis.

In exchange, fans get exclusive content, VIP treatment, and any other goodies the artist decides to divvy out.

The artist can set up tiers — or different levels of support.

So these would be different amounts of money each fan can choose to pay monthly or per creation. And each tier has different rewards or levels of exclusive access.

Some of the top artists on Patreon include Amanda Palmer, Cory Henry, Ben Folds, and Jacob Collier.

PRO TIP: each of these artists has no more than three tiers.

My experience with Patreon

On my Patreon page, I offer two tiers of support that people can choose between: $3 and $10.

The $3 tier gives people:

• Access to the patron-only content feed where I post all my music early and other behind-the-scenes stuff
• A voice memo recording of me singing/playing a personalized thank-you ditty

And the $10 tier gives people:

• Everything in the $3 tier
• Access to a Google Drive folder with extra goodies that I don’t share anywhere else

The number of patrons I’ve had has varied between 7-10.

So Patreon has always been supplemental cash flow for me. The money I earn goes right back into my music fund, usually covering website costs.

But I’m not complaining at all. That means I’m getting a professional-looking website and not paying a dime of my own money.

Really, the biggest benefit for me is the super-fan connection.

This small group of people love my music and want to see me succeed. So much that they give me a few bucks every single month.

In exchange, I get to share stuff I’m excited about but that I don’t want to share anywhere else.

Unreleased music, project ideas, demos of songs I’ve released — things like that.

How Much Does It Cost To Use Patreon?

Rather than charging a monthly fee, Patreon’s pricing comes on the backend.

So you can create an account and launch a page for free. And then Patreon will take a percentage of what you make based on the plan you choose.

This method is perfect for DIY musicians because you can start earning money without any upfront costs.

And, as Patreon says, they “only succeed when you succeed.” Which means they have everything to gain by helping you grow.

Here’s what each Patreon account type costs and the features you get…

Lite - 5% commission:

• Hosted creator page
• Patron communication tools
• Patreon workshops

Pro - 8% commission:

• Everything in Lite, and…
• Membership tiers
• Analytics and insights
• Special Offers promo tool
• Creator-led workshops
• Unlimited app integrations
• Priority customer support

Premium - 12% commission:

• Everything in Pro, and…
• Dedicated Partner Manager
• Merch for Membership
• Team Accounts

Pros And Cons Of Patreon

So is Patreon any good?

To be as objective as possible in this Patreon review, here’s a quick little pros-and-cons list.

Pros:

• No upfront cost for the artist
• The artist gets paid on a regular basis
• Patrons get early and/or exclusive access to music
• Account connects to your bank or PayPal for easy funds transfer
• Patrons can spend as little as $1/mo

Cons:

• Some fans may feel intimidated by the monthly commitment
• Patreon takes a percentage from the artist’s funds — other platforms with similar services, like Bandzoogle, take 0% commission
• Up to 5% in credit card processing fees

So…Is Patreon Worth It?

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So can you make a living as a musician on Patreon?

Well, the top Patreon artists do.

But what about artists like you and me?

Back in 2017, blogger Brent Knepper wrote that just 2% of creators were making a living from Patreon. And I bet that number is still pretty accurate.

That stat sounds bad on the surface. But let’s think about this for a second.

When a creator signs up, do they really expect to make a living from their Patreon supporters alone?

If you assume Patreon is going to be your sole source of income from music, you’re mistaken.

Being a musician nowadays is all about diversifying your income streams.

You’ll get a little income from Patreon.

Some from performances.

A smidge from royalties.

You can make some money from sync licensing.

Maybe a lil’ from your other skills, like giving guitar lessons or freelance music writing.

But if you put your hope in one platform for your entire music income, that’s bad business. It’s just not smart.

No, you may not make very much money on Patreon.

But yes, it’s still worth it.

So here’s my Patreon review in one sentence: it’s money you’d be leaving on the table, so why not give it a shot?

You can sign up here.

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