Patreon is raising its fees for new creators this summer

Patreon is introducing a new standard plan that will charge creators a 10% fee on their income, replacing the current Pro and Premium plans. The change only applies to new creators, and existing creators who lock in the Pro plan by August 4 will continue to pay the 8% fee. Creators who were on the Premium plan will be shifted to a custom "Pro + merch" plan with an 11% fee, which will drop to 8% if they remove the merch option. Patreon is also increasing the free storage for creators using Patreon Video from 100 hours across the account's lifetime to 100 hours per month. The platform recently teased new tools, including a built-in livestreaming feature called Live Video, which is currently being tested among some users. The Live Video feature is expected to roll out this summer. The changes come as Patreon aims to provide more features and support to creators on its platform. The new standard plan will be the only option for creators moving forward. Patreon is trying to balance its need to generate revenue with its goal of providing a supportive platform for creators. The changes are expected to take effect later this summer.