Internet Is Leaving Ad-Based Revenue Models Behind: Patreon CEO
*By Christian Smith*
The internet is moving away from an ad-based revenue system says Jack Conte, co-founder and CEO of Patreon, a platform that allows people to pay for access to exclusive content from digital creators.
That trend is evidenced by the growth that Patreon saw in 2018, Conte said in an interview on Cheddar Wednesday, the same day the company announced it now has more than 3 million subscribers, or "patrons," with more than 100,000 creators on the platform. The company began 2018 with 2 million patrons supporting its content.
"I think what's driving this growth that Patreon is seeing, and I think membership in general, is the larger trend of the movement of the web from an ad-based system into a consumer payments-based system," Conte said.
Patreon's growth in 2018, however, didn't come without some controversy. Patreon came under fire for removing some content creators from its platform for engaging in what it defines as hate speech. Some critics claimed Patreon was restricting free speech, but Conte told Cheddar the company is upfront with creators about its anti-hate speech policy.
"We're serious about not allowing hate speech, and when a creator does that, we reach out, we tell them what's going on, and most of the time we're able to work with creators and sometimes we're not, but we draw a hard line on hate speech," Conte said.
For full interview [click here](https://cheddar.com/videos/creator-crowdfunding-platform-patreon-hits-three-million-subscribers).
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Governor Spencer Cox signed two measures restricting how easily children in the state can access platforms like TikTok and Twitter, setting the precedent in the U.S.
Freada Kapor Klein, founder of Level Playing Field Institute, joined Cheddar News to provide some insight into the ongoing inequitable treatment of women in the world of finance.
Activision Blizzard on Thursday released its first annual report on diversity and inclusion, and the results showed that the company has a long way to go before hitting its goals.
As other parts of the economy are roiled by crisis, gas prices are holding steady. The national average price for gasoline fell four cents to $3.43 per gallon last week, according to AAA's weekly survey.
Hyundai and Kia are telling the owners of more than 571,000 SUVs and minivans in the U.S. to park them outdoors because the tow hitch harnesses can catch fire while they are parked or being driven.
The Federal Trade Commission (FTC) has proposed a new rule that would make it easier for consumers to cancel free subscriptions. The so-called "click to cancel" provision requires sellers to make it as easy for users to cancel subscriptions as it was to subscribe.
