Patreon Update: October 2014
Welcome to my second Patreon Update post! This is my monthly transparency report where I detail all earnings that have been generated via my Patreon campaign. I also cover any updates that have been made regarding pledge rewards and goals, as well as anything else that applies.
I've actually made quite a few changes since last month's report, so let's get started with September's earnings.
September 2014 Earnings
Wrapping up the summer, September's earnings were certainly lower than usual. This is likely happening for two reasons:
1. A select number of patrons decided to stop pledging, which is completely understandable. If funds are tight, I always want your needs to come before my needs. Simple as that.
2. Unfortunately, because of how Patreon handles pledges, not all amounts are always fully processed. This typically occurs due to an invalid form of payment on the patron's end, and I sincerely hope Patreon is working to resolve this. This flaw in the system is causing the final pledged amount to appear inaccurate and misleading.
Despite some shortcomings, I am still extremely grateful for last month's earnings. Please see below for a detailed report:
- Pledged: $1,120 by 144 patrons
- Processed: $1,037 by 138 patrons
- Deductions: $60.13 credit card fees, $51.85 Patreon fee
- Final Paid: $925.02
Updates: New Pledges and Milestones
In an effort to gain the interest of new potential patrons, I have made some significant changes to both my pledge rewards and milestone goals.
Starting with pledges, I've introduced a handful of new rewards that are sure to grab some attention. Check out the full list below:
• $5+ Pledge - Invite to co-host the monthly patrons-only Google+ Hangout
• $5+ Pledge - Entry into my monthly $25 Amazon gift card giveaway
• $10+ Pledge - Priority answers in my "Ask Me Anything" series
• $100+ Pledge - Monthly video promotion (1–2 minutes) of your website
• $250+ Pledge - 1-hour Skype call with me every month
• $500 Pledge - Any ideas? Let me know!
I'm specifically excited to offer the new rewards within the $5+ pledge tier. The opportunity to co-host the monthly Hangout could be a lot of fun, especially if last month's Hangout is any indication.
And who doesn't want the chance of winning a $25 Amazon gift card? Of course, as revenue becomes more flexible for me, I will be able to offer gift cards of higher value. The same goes for gadget giveaways, another reward that I hope to introduce in the near future. I would like to give away an iPad mini at some point, if possible.
Alright, let's talk milestone goals. These amounts are intended to be high, but I am looking to make things a bit more realistic. To do this, I have updated two milestone goals:
• $1,500 per month - Previously $2,000 per month, reaching this new goal amount isn't too far-fetched. Provided this goal is met, I can guarantee weekly live streams across a variety of platforms — including YouTube and Twitch.
• $3,000 per month - Down $500 from the previous amount, this milestone goal ensures that I can generate enough revenue to purchase hardware that is capable of producing 4K content on my YouTube channel. From a 4K monitor to a 4K camcorder, this is the goal that could call for some serious upgrades.
$25+ Pledge Promotions
Every month I promote websites and/or services ran by those who are kind enough to pledge within the $25+ tier. Please take a moment to review anything below that you may find interesting:
Joel Shaw: Web Developer | Graphic Designer
Eli | Your Daily Dose Blog
Pancho Joshi's YouTube Channel
Closing out this month's Patreon Update, I have to say that I am quite happy with the latest changes. My final pledged amount may be lower than it previously was, but that doesn't mean I am any less excited about the future.
Running a Patreon campaign has been a lot of fun, and I can't wait to see what the coming months bring — especially with the holidays quickly approaching. I'm looking forward to sharing my annual Christmas videos with my patrons ahead of schedule.
As always, thank you for your continued support. You are truly making a difference. If you have any questions or comments regarding this month's updates, please feel free to contact me.