me too

People sell things on Patreon?... I thought it was just donations

​@mikebar42 some use patreon for subbscription services, for example teir 1 may coat $1-5 a month and offer access to a service and teir 2 could offer additional downloads or support and be $10-20 a month etc kinda like the different levels of twich subs

@@mikebar42 some people set up their Patreon stuff like that, but it's meant to be a way of offering exclusive content to paying members of a community. OF is similar, but they allow explicit content so it became full of that.

@@arleyantes9321 so there's people on only fans that keep their clothes on? 😂

I see you are encouring people to "finish" early.

I'd die if I tried that for an hour

Ill be one drunk man thinking about picking up cybersecurity by the end of the day

Also "You goblins" "Who made you this way?" "You could be any other way"

I want to stay alive.

Many small cups make a big coffee river

@@putinstea I can remember a time when I wanted a coffee river. Would have a nice back then

@@GodlessVoice you'd die from too much caffeine

@@putinstea That is literally true. I'd die from "just the right amount of caffeine."

@@GodlessVoice I respect your dedication ☕

its smart. because think about it. if they steal all the patreon customers they are making BANK.

​​​@@spin-rg9ibyeah but they dont offer the same ammout of liberty when it comes to content, so pepole will go to patreon

​@@NA-uz7cosame amount of liberty? Buddy quick sucking off patreon it's a clone 😂

@@spin-rg9ibEmphasis on If. Someone would have to be earning at least 57 dollars a month on Patreon to match the fee of Ko-fi. That’s too much money for anybody who isn’t popular.

​@@NA-uz7codepends on what service you need. And if Ko-fi offers the same services you need from patreon, Ko-fi is the cheaper choice

Their logo is a cup of coffee tho

Definitely a play on words. Co-finance = co-fi = KoFi = ☕️

@@SeisoYabaiI thought this as well, he’s probably like me and never seen their logo

@@ChristmasLights2which also makes it koh fai, no?

It's pronounced coffee because their starting concept was "support someone by buying them a cup of coffee" aka donating the price of a coffee

Yup, and 99% of people on patreon makes less than that.

When I was my friends only Patreon supporter, I'm glad he only had to lose 8 cents a month instead of $5

I was wondering about that. this man seems smart based on his other shorts, but his 'why would you ever use patreon' assumes that you make enough on ko-fi to offset the flat rate.

I suppose, the problem with being an internet content creator is you never know when your shit might blow up. Look at what's happened in the last week with this channel. Having your systems set-up in advance means you are ready to seize the opportunity when it comes along.

@@Skillfullfilms89 Because he's not talking about people who make $5 a month, he's talking about people who earn a living or at least make enough to consider switching over. Ain't even worth thinking about if you're only making $1 a month 💀

That's fucked up

I think it's a reasonable ask. Based on what @Outfrost is saying, I suspect he means the 1099-K. You, the Ko-Fi member need to fill out your own 1099-K. Patreon, as part of its value-add service for which you pay.. you get a 1099-K. That's all hypothetical, though, based on his statement and what I know of these platforms/payments.

@@compasscrafting1147 1099-K is for American taxes you file to the IRS. Patreon also takes care of local taxes you have to file elsewhere, assuming you're based in one of the countries they support.

are you sure? if you link it with stripe shouldnt stripe just do all that?

@@trickeddev Nope. Go to Ko-fi settings, more, payments and billing, and configure sales tax.

Its crazy, in my algorithm its the same. The only thing I can think IS because I like overwatch

he has a short where he explains it a little, the one about not notifying subs

@@zawadlttv yeah I saw that one

You're welcome.

@@makavelismith not like you hacked youtube and put him on everyones algorithm

oh no!

my man, at that low of an income, I would just work at fast food. Seriously.

​@@Zaphod771let's say someone cannot work at fast food and is locked to his home

1 standard subscription would already make you in the green with no loss

​@@likemau5552if they aren't able to leave their house they should probably be on some kind of welfare and not hoping patreon can save them

Shit

oh. It all makes sense now. thanks. I guarantee that a large percentage of patreon's users make NSFW. it's just a fact.

⁠@@calebnelson7779I think NSFW content already is the largest percentage of users and has been for a while now

Onlyfans?

@@echoptic775 I don't know their terms, never looked at it. Did not come to my mind as a possibility for digital comic artist. 😅

uh, 6mil creators on patreon....1mil on kofi. Patreon has been around since 2013. Ko-fi has been around since 2016. ...........

I'd actually wager that since Ko-fi isn't funded by Venture Capital, they have no real reason to continually drive a profit for those huge investors. They're growing slowly and sustainably, whereas Patreon has a fiduciary responsibility to always have a greater profit. If they're not getting enough new creators and subs, they're forced to take more of the slice

​@@RinsDeskWhy the ....? Lmao

​@@galacticrelic258 ..............................................................................................................................................................................

@@noitibmar Ko-Fi had pre-seed funding, and may very well move to the VC route eventually. It also does charge 5% platform fees if you're not on gold, and gold costs $6-8 AFAIK from the info on their site. They avoid transaction costs by letting creators and consumers deal directly with the payment platforms, who then charge their own fees. Basically, pick your poison: be at the mercy of PayPal, Stripe, or Patreon. Many creators would prefer dealing with just Patreon and their terms of service rather than PayPal or Stripe's. With gold, I'm not certain that $8 will eventually be enough to sustain the cost of hosting their biggest creators on the platform as they grow. In some sense, the smaller gold creators and non-gold creators are subsidising the hosting costs for the biggest creators, which is kind of messed up. Overall though, another competitor in the space with a slightly different model is definitely good.

"Be smarter, cheat -and I won't cheat, but it sure is a hell of a lot easier to just be first."

It's called the first mover advantage

Well, they weren't the first, just were the most sucessful.

The older brother that tells you stuff you should take with a grain of salt yeah

Well, make sure you actually read the source material and don't just take the word of random internet people. Even ones with a good rep like this guy. The Ko-Fi website says it takes between 0-5%. Still better than the 8% patreon takes, but the true vaule depends on what they offer.

how hard to offer 2 prices Ko-fi $10, $12 for patreon. then a short explanation

​@@nikitaw1982unironically genius move

I put it up didn't advertise it and everyone uses it very easily

​@@nikitaw1982that wouldn't really work, because people will generally always offer several different prices/tiers on their patreon. only offering one price would just decrease how much you earn

There was a time when no one knew what Patreon was

You would need 40 subs cause Twitch takes 50% and doesn't pay out less than $100.

​@@chicken_monkeyhe means patreon subs not twitch subs

I suppose, the problem with being an internet content creator is you never know when your shit might blow up. Look at what's happened in the last week with this channel. Having your systems set-up in advance means you are ready to seize the opportunity when it comes along.

But if you have ambitions to grow beyond 57 dollars a month it would still be worth using KoFi and take the small lost initially for the long term benefits.

Except... you don't need the 4.50 membership. Kofi has a 5% fee without the membership. That automatically makes better than patreons 8%. Kofi also has 0% fee on one-time donations. Patreon is not economically viable in any regard

Why people still use credit cards, instead of debit cards, I will never know. I live in the UK and credit cards basically went the way of the dinosaur about 15 years ago. Everyone pretty much only uses debit cards now.

@@Vennnaya My guess is some people either don't understand how they work or feel the need to act richer than they really are.

@@Vennnaya This isn't true. Every major bank offers credit cards, lots of people use them and they definitely have their uses. This channel seems to encourage making spurious claims. Monkey see, monkey do, I guess.

@@drfell9105 and ever major bank offers debit cards too? What's your point?

I think most people outside america use debit rather than credit fyi and also bank only offer credit to rich people and average people then use debit also... outside of america

Yes

Yup, artist have had to rely on Patrons for centuries, it's why most of the art during the medieval era is of Jesus or God, because the church was the only place with the money to patronise those artists. Weird that a company that literally uses the same model, used a play on the word Patron as it's name and it was successful...

Patreon also uses stripe on top of their % cut so with currency conversion fees so this month I made about 87% of my actual number with the grandfathered in 5% base cut.

You're correct to the best of my understanding (I work at a payments provider). Patreon wraps the costs, where it's PayPal's flat rate versus Stripe's fee (whether it's IC++ or blended rate). It appears Ko-Fi provides the platform for $4.50/month and you pay the processing fees of something like 3.5% + $0.30 per transaction. All in, Patreon is still a more expensive service. But when examining services for which you conduct business, you gotta look at any of the value adds included (tax services, reporting, external API integrations, whatever it may be).

as a patreon creator, I can confirm it's 8% + the transaction fees. I make around 81-82% of the total income.

KoFi has an API ... They also have 2FA and the ability to set alerts for any changes to your account. If you don't protect yourself, that's your own damn fault on any site.

That's not what it means, he's referring to what the creator has to pay to use the service.

that's not how that works at all

you can just sign up for a 1 month patreon subscription to the creator you like and watch his content and then unsubscribe..

I always pronounced "Koh-fee" like it would rhyme with "Low See"

Big chunk of the reason behind the pronunciation is that the idea behind it was essentially small one time supports. Aka buying the creator a coffee/Ko-fi. They rebranded back around 2017(?) which enabled a bunch of the additional features.

@@tinkerer3399 oooooooooh, that makes so much sense!

you mean LoW-fi

imagine trying to correct a stranger on the internet and being wrong... i bet you walk around and "correct" the word "potato" too, don't you..? @@nikitaw1982

He beat the matrix

Absolute bullshit

They used to, but lately have laid off a lot of the security team. A lot of other tech companies have been hacked because of the same reason. We’ll see how it goes with Patreon.

@@edsanz2 I've had more then one mutual have large amounts of money stolen from them in account take overs. Ko-fi doesn't send out an e-mail when ANY of your account details are changed, be it password or, you know, the Paypal linked to the account. this is bear bones basic shit that's lit' automated on other sites, Ko-fi can't even be bothered.

Patreon also laid off a good chunk of their security team about a year ago.

Neither does Patreon anymore.

They also use stripe to process payment.

aren't paypal fees only 2.9% though?

Lmao wow... I blame public education.😂

Can you elaborate on this?

Paypal takes 3% as opposed to 8%. Now im not great at math but im pretty sure 8% is more than 3%

It's not. Over half of all Patreon creators make under $50/month. That makes the 8% cut cost $4 total at most for the majority of Patreon creators. That's cheaper than the flat rate, which end up being 9% or more of your earnings. KoFi is using that truck for extra profits since most creators will never make much, they're making a larger cut on most creators and only giving a good deal to less than 1/3 of creators.

Makes sense when having a patreon makes you a public figure of sorts that people are giving money directly to

I remember years ago when the founder specifically stated that how he wouldn't ban people based on their political views. Low and behold, not even a year later Patreon was banning people for off site political speech. I never considered using there site after that. Man it must have been way back in 2018 or something.

@@metalmario1231 It really doesnt make sense at all. Patreon isnt a internet wide governing body. Their TOS should only extend to their own website.

@@metalmario1231 meatriding Patreon is crazy 💀💀

Exactly the plan. How people don't see this is kind of amazing. Homeboy is too smart to be this dumb.

​@@sealmeatisbestmeat1241They can't put patreon out of business unless they start accepting NSFW creators on it. That's the biggest percentage of Patreon users so until KoFi changes that Patreon will be fine.

@@Setixir If the NSFW content is not featured on their Ko-fi page I think they don't bother with banning you unless there's a lifeless nemesis making sure you always have a thorn on your side.

And then another platform will come up and take them down exactly how they plan to do it with Patreon. You owe no loyalty to no platform, use the one that is most convenient and has an adequate long term life expectancy

@@KekkusMaximusVery well said. As a very wise man once said: "I'm not loyal to anybody, I'mma demon, I have no loyalty for anyone. Never did, never will".

And that's a lie. Kofi is very popular and growing even more. And people will buy up anything their favourite content creator tells them to, just look at nfts

I suppose, the problem with being an internet content creator is you never know when your shit might blow up. Look at what's happened in the last week with this channel. Having your systems set-up in advance means you are ready to seize the opportunity when it comes along.

The 5 dollar a month thing is only for some neat features, otherwise its 5 percent

No.

Yes you can but there are some heavy restrictions

Is it really actually more expensive for KoFi to handle more transactions in a meaningful way? I imagine they are just passing the payment portion over to the Stripe API or something of this nature, so is there truly a sizeable marginal cost to each transaction or is it more just “money left on the table” compared to other pricing models?

KoFi actually uses Stripe Connect, so its the creator pays the Stripe processing fees - KoFi Gold instead has a flat "platform" fee instead of a %. So Kofi doesnt get screwed by popular creator. Although I always thought patreon's 8% was quite reasonable, after transaction fees its only about 5%.

yeah... i highly doubt ko-fi hasn't thought about this. i know others have said "oh this is a trick to undercut everyone else to get a monopoly"... but you'd think they'd go completely fee-less if they wanted to _really_ attract everyone...

You know, it's a narcissistic trait common in psychopaths to believe they're above other people. Good job claiming the average person is too dumb to read for themselves, Dahmer.