Using a monetization platform is a must for any content creator these days. In this increasingly digital age that we live in, the Internet is an invaluable tool for creatives seeking to gain a platform. Whether you are a visual artist, a musician, a writer, a podcaster, a video essayist or any other sort of creative, if you are seeking to monetize your passion, you might want to look into one of the following online monetization platforms.
1. Patreon
This subscription-based platform enables your audience to financially support you by paying a monthly fee in exchange for access to exclusive content and other perks. Patreon’s subscription system also features membership tiers, which correspond to different sums of money your supporters pay you each month – the larger the sum, the better the rewards. (Not all creators on Patreon use tiers this way, however – some prefer to provide all of their supporters with the same benefits regardless of how much they’ve pledged.) This monetization platform is ideal for content creators who have already acquired a solid fan base.
2. Ko-Fi
This monetization platform works like a virtual tip jar, where content creators can accept payments through donations, subscriptions, commissions or an online shop. Your fans may even choose to support you through a monthly subscription, like on Patreon. In addition, Ko-Fi actively supports creators by regularly hosting giveaways, challenges, contests and other similar events on Instagram and Twitter, which you can stay up to date with by following their social media accounts. Creators can also upgrade to Ko-Fi Gold for $6 per month in exchange for additional benefits.
3. Buy Me A Coffee
Similarly to Ko-Fi, Buy Me A Coffee (or BMAC) also functions as a tip jar. One key difference between the two platforms is that BMAC allows monthly financial support, analytics and exclusive content for all creators, while Ko-Fi only does so for Ko-Fi Gold users. For this reason, some have described this monetization platform as a combination of Ko-Fi and Patreon. BMAC can also be accessed through a mobile app which you can download for free.
4. YouTube
If your YouTube channel has at least 1,000 subscribers and your public videos have amassed at least 4,000 watch hours in the past 12 months, you have the option of monetizing it by joining the YouTube Partner Program. If you have over 10,000 subscribers you can set up a merch shelf, from which your subscribers can buy official merchandise, and if you have over 30,000, they can pay a monthly fee to support you. You can also get advertising revenue by promoting various services on your channel.
5. Kickstarter
If you need help in financing a singular creative project, such as a book or an animated series, you might want to use this monetization platform. However, one thing you need to know before you start a project on Kickstarter is that it functions based on an all-or-nothing funding model, which means that you will only receive the money once you have met your goal within the time limit you have decided on.
