
Revenue
$126.00M
2025
Valuation
$4.00B
2025
Funding
$407.78M
2021
Revenue
Sacra estimates that Patreon generated $126M in trailing twelve months revenue as of May 2025, essentially flat from $122M in 2023. This stagnation follows a period of modest growth that peaked in 2022 at $116M, representing only 9% growth over the past three years.
The revenue trajectory shows Patreon's growth has decelerated significantly since its early expansion. Starting from $77M in 2020, the company grew to $105M in 2021 and $116M in 2022 before plateauing. The flat performance reflects underlying challenges in gross merchandise volume (GMV), which has remained largely stagnant despite the platform's efforts to increase its take rate from creators.
Patreon's revenue model relies on taking a percentage of creator earnings, with the company having eliminated its 5% plan in 2020 and pushing creators toward 8-12% fee structures. The blended take rate has increased from approximately 7% in 2020 to an estimated 8.5% currently, with most creators likely on the 8% plan. This take rate expansion has helped maintain revenue levels even as GMV growth has slowed, though it also creates potential friction with the creator base that forms the foundation of Patreon's business model.
Valuation
Patreon is valued at $4 billion following its $155 million Series F round in April 2021, led by Tiger Global Management. The company has raised approximately $410 million in total funding since its founding in 2013.
The Series F round included participation from Woodline Partners, Wellington Management, Lone Pine Capital, New Enterprise Associates, Glade Brook Capital, and DFJ Growth. Key investors across previous rounds include Index Ventures, CRV, and Thrive Capital, with Tiger Global leading the most recent significant investment.
Product
Patreon is a creator monetization platform that combines subscription management, content hosting, and community features in a single workspace. Creators can upload videos, audio, written content, and digital files directly to the platform, then gate access behind paid membership tiers or sell items individually through integrated commerce tools.
The user experience centers around flexible monetization options. Fans can follow creators for free to access public content and notifications, upgrade to paid monthly or annual memberships for exclusive content, or make one-time purchases of specific digital products through the creator's shop. The platform handles payment processing, global currency conversion, tax compliance, and content delivery through native video and audio players that support 4K streaming and private RSS feeds.
Creators set up tiered membership structures with different access levels and perks, schedule content releases, and engage with their audience through community features like group chats, polls, and livestreamed events called Moments. The platform's discovery tools use algorithmic recommendations to connect new audiences with creators, while automated conversion flows help move free followers to paid memberships. Analytics dashboards provide creators with insights into subscriber behavior, churn rates, and revenue performance across different content types and membership tiers.