Subscription-based social network Fanbase expands into Australia
Photo, video, live streaming, and long-form content app, Fanbase, has announced its expansion into Australia, the UK and Canada.
Fanbase allows users (including musicians and celebrities) to monetise their content with paywalls and tips.
The app hopes to set itself apart from other popular content subscription services such as Patreon and OnlyFans by offering an integrated social network platform and full native app.
Fanbase currently charges subscribers $3.99 a month and takes a 20% cut of all in-app purchases.
News of the app’s expansion comes after it raised more than US$3.2 million from 4,800 investors in crowdsourced equity through StartEngine.
“In our experience, we have seen talented creators and community-builders from popular social media platforms who have gathered large followings but have been unable to adequately monetise their success,” a description for the app reads.
“In order to monetise their content, creators have to jump through a lot of hoops and follow certain rules in order to get paid. Even those that do manage to fit into this small box, are still not paid well for their talent. In addition, algorithms are always changing and usually working against them which makes things even more difficult for both the creators and advertisers alike.”
According to Music Ally, Snoop Dogg, Charlamagne Tha God and Chamillionaire are among the first high-profile names to join Fanbase. However, the app’s owners have said anyone can use it to try and build a following and revenue stream. A free subscription tier is also available.
The platform claims it has garnered 12,700 users organically, with 40% of its users paying.