San Francisco-based crowdfunding platform Patreon has purchased video subscription service company Subbable, a deal which is expected to raise over $25 million this year alone, Forbes reports.
YouTube stars Hank and John Green, who are brothers, launched Subbable and are in talks with the Patreon over the future of the deal.
Patreon co-founder Jack Conte recently commented on the purchase, explaining why people will pay over $2 million monthly for content service.
"Because they're not paying for the content," Conte said, according to the site.
"They're paying for the people. People always ask, 'Should music be free?' But music is already free. The question is: 'How do we pay people?'"
Hank Green also recently commented on the deal, mentioning that the company's target audience are fans loyal to the subscription model.
"We ascribe to the idealistic notion that audiences don't pay for things because they're forced to, but because they care about the stuff that they love and want it to continue to grow," he said in a video posted on Subbable's site.
Subbable describes itself as a way to connect content creators with the communities they are trying to target, not just their advertisers.
