Sharing Daily Discoveries About Personal Finance And Business Topics

Patreon Backtracking On Fees Was Quick

Recently there was a lot of news on how the site Patreon which is known to give people such as artists a platform to receive fan donations , came under fire as they announced a new fee structure. Essentially the person donating the money would be charged a 35 cents service fee which didn’t make sense as many people simply pledge $1 to their favourite creator as an example.

But since the uproar was so big the company released a statement saying they are not going to launch this new plan and is going back to the drawing board. It was a good demonstration of the power of the people I felt and at the same time how something sounding good simply for say investors probably isn’t always a good idea. That was the theory from a lot of people on why they introduced the fee.

It makes you wonder why when it comes to platforms like these how a company wouldn’t immediately turn to its user base and ask for feedback and input before going through with it. I can see if they have a monopoly of some sort which makes one think they can do anything but for things like donations there are just too many ways to do it.

I am super curious if a company could ever recover from such a PR disaster of sort as I would imagine competitors would have a field day with it.




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