Patreon, the renowned platform empowering creators, recently announced its acquisition of Moment, a Los Angeles-based startup specializing in livestream ticketed events. While the financial details of the deal remain undisclosed, Patreon is excited about the opportunity this partnership presents to enhance the offerings for its creators. The acquisition of Moment adds a new dimension to Patreon’s arsenal, allowing content creators to connect with their audiences through ticketed digital experiences.
Moment, established in 2019 by Arjun Mehta, Nigel Egrari, and Shray Bansal, is known for its expertise in organizing ticketed livestreamed events, spanning from concerts to podcasts. Throughout its journey, Moment has collaborated with notable figures, including global sensations like Justin Bieber and Tame Impala. With $13.5 million in funding from investors such as Halsey, UTA, Zaiko, and Forerunner Ventures, Moment has made a significant mark in the digital events landscape.
Patreon’s acquisition of Moment not only signifies its dedication to enriching the experience for creators but also underscores the growing importance of connecting creators and their audiences through innovative digital platforms. As part of the integration process, Moment’s talented employees will become a part of the Patreon team, contributing their expertise across various functional areas, especially within the creator and product teams.
“We built Moment to help artists and creators gather their global communities for premium live experiences while providing them complete control over creative and monetization,” stated Moment’s CEO Arjun Mehta. “We are excited to join the Patreon team and deliver an even better, integrated experience to many more creators and their communities.”
Patreon’s vision for the future involves equipping creators with tools to establish a sustainable connection with their supporters. Live streaming has emerged as one of the most requested features by Patreon’s creators, and the Moment acquisition aligns perfectly with this demand. Patreon’s intention is to incorporate Moment’s capabilities into its suite of creator-focused tools, enabling content creators to explore new dimensions of interaction with their audience.
Following the acquisition, the inaugural Moment event on Patreon’s platform is none other than “Crooked Media’s Pod Save America Live from DC” scheduled for October 19. This event promises to be a dynamic experience featuring Senator John Fetterman, renowned Chef Jose Andres, and Jennifer Carroll Foy, a candidate for the Virginia State Senate.
In a recent blog post, Patreon articulated its commitment to creating a sustainable future for creators. By establishing a direct line of connection between creators and their fanbase, Patreon aims to redefine the creator-fan relationship. With Moment now in its fold, Patreon anticipates the birth of countless memorable moments, offering a host of musicians, podcasters, comedians, and more an avenue to further engage with their supporters.
Patreon’s decision to acquire Moment underscores its ongoing dedication to strengthening the bond between creators and their fanbases. This commitment has been evident over the past few months as Patreon introduced a range of new features designed to elevate creator experiences. Just a week before the Moment acquisition announcement, Patreon launched several enhancements, including a revamped app and a fresh brand identity. Key highlights of these changes include:
- Enhanced Chat Feature: Patreon introduced a Discord-like chat feature, connecting creators with their fanbase through group messages. This feature promotes real-time interaction, enabling creators to directly engage with their supporters and foster a stronger sense of community.
- Commerce Feature: Building on an earlier announcement from June, Patreon expanded the availability of its “Commerce” feature. This capability allows creators to sell one-time digital products and offer free subscriptions to their followers. By embracing commerce, creators can diversify their income streams and cater to different supporter preferences.
Patreon’s strategic acquisition of Moment marks the fourth such deal in the company’s history. In 2018, Patreon acquired Kit, facilitating creators in bundling merchandise with their subscriptions. That same year, Patreon welcomed Memberful into its portfolio, a white-labeled subscription membership platform empowering creators to offer exclusive content access through their websites. In 2015, Patreon acquired Subbable, a subscription platform for artists, expanding its reach within the creative community.
As Patreon and Moment join forces, the future of content creation holds great promise. The seamless integration of Moment’s expertise in ticketed live events with Patreon’s creator-focused platform creates exciting opportunities for creators to connect with their audience, fueling the evolution of digital experiences. By staying true to its mission of strengthening the creator-audience relationship, Patreon remains at the forefront of shaping the future of content creation in the digital age.