Patreon, which provides creators with a way to offer subscriptions, has acquired the digital event app Moment, which will bring live events streaming to the platform.
The acquisition will give creators a new way to share content with their fans by offering tickets to digital experiences. Patreon will absorb Moment’s staff and operations, integrating both companies so fans can keep tabs on their favorite artists, who in turn have a “direct line” to their fans. Financial terms of the deal were not released.
“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,” said 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.”
Moment’s live events feature adds another capability to Patreon, which is a go-to service for creators with a large audience looking to generate revenue directly from its most loyal viewers. The service emerged as a complementary way to make money on top of the ad revenue shared by YouTube and TikTok.
Moment launched in 2019 to facilitate ticketed livestream events such as concerts and podcasts. The company became one of the top event platforms for entertainers and creators, including Justin Bieber, Tame Impala, Kygo, Pod Save America, Good For You Podcast with Whitney Cummings, and more. Moment has connected millions of fans with artists through live-streaming events. Now, Patreon is absorbing the company to enhance its offerings across membership, digital commerce, and digital events.
“Patreon’s mission has always been to help creators take control over their work, deepen connections with their most passionate fans, and build successful, sustainable businesses,” said Jack Conte, co-founder and CEO of Patreon. “On the heels of releasing our new brand identity, mobile app, and a suite of creator tools, joining forces with Moment will further strengthen Patreon’s offerings for creators.”
Patreon revamped its platform this month to create a seamless app for fans and content creators. The updated app now includes tools to help creators keep in touch with their communities. Adding Moment and ticketed digital events is the latest move the company has made to establish a sustainable business outside of just paid memberships.