a16z Podcast On Monetizing Community with Patreon Cofounder Sam Yam
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Apr 8, 2021 Sam Yam, Co-founder of Patreon, and Li Jin, Managing Partner at Atelier Ventures, dive into the booming creator economy. They discuss how creators are monetizing their work more effectively than ever, even with fewer fans. Yam emphasizes the shift from engaging 1,000 true fans to a smaller, more passionate audience, while Jin outlines the evolution of community engagement through subscription models. They highlight how exclusive content fosters deeper connections and explore the future of work in this thriving landscape.
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Defining the Passion Economy
- The passion economy empowers individuals to monetize their unique skills and passions.
- It goes beyond traditional content creation, encompassing diverse fields like coaching and teaching.
Broken Creator Economics
- Patreon co-founder Jack Conte earned minimal ad revenue despite millions of YouTube views.
- Sam Yam, despite musical talent, saw no clear career path in music before Patreon.
Social Networks Enable Niche Discovery
- Social networks' global reach enabled creators to find their niche audiences.
- This growth paved the way for new creator platforms like Patreon.