Social media creators are now relying on subscription platforms like Substack and Patreon to earn a steady income. The growing competition and unpredictable nature of platforms like TikTok and Instagram have made income from viral content unreliable.
A study by the Bank of America Institute shows that the creator economy peaked in September 2021.
However, most creators earn far less than a typical U.S. worker. Analysts blame a slowdown in paid brand deals, fewer online viewers since the pandemic, and top creators dominating paid opportunities.
Many creators, like Molly Burke, have turned to subscriptions to stabilize their income. Burke, who shares videos about living with blindness, uses her Patreon earnings to pay essential bills like rent. “I can’t rely on algorithms to pay my bills,” she said.
Platforms like Patreon allow creators to charge fans for exclusive content. Since its launch, Patreon has paid creators over $8 billion. Substack, another subscription-based service, reports hosting over 4 million paid subscribers. These platforms offer creators a way to earn directly from fans without depending on social media algorithms.
Subscription models are also helping larger groups like The Try Guys. They launched a streaming service, 2nd Try, where fans pay $5 monthly to watch ad-free videos. In just three months, the service is on track to become profitable.
The shift to subscriptions reflects creators’ need for reliable income in a market where viral success is no longer enough. As Patreon CEO Jack Conte said, “Membership alone is creating predictable, reliable revenue for creators.”
