Meanwhile, many creators are becoming concerned about the recent turbulence surrounding popular social media platforms. The platforms included Meta ending its monthly Reels Play incentive program and the imminent TikTok ban. According to the report, 60% of Gen Z content creators utilize TikTok to commercialize their work. Many creators are becoming concerned. A second source of income for content creators may come from Fanfix, a Patreon rival that caters to Gen Z creators and only accepts clean content. Influencers who use the subscription revenue generation platform can get paid directly by their subscribers.
What is Fanfix and How it Works??
According to the company, Fanfix has drawn 10 million users, including 3000 producers. As per company data, active producers make an average of $70,000 annually. By the end of the year, Fanfix expects to have paid out $50 million to creators, up from $11 million as of this month. According to co-founder Harry Gestetner, it also states a $35 million annual sales run rate and anticipates turning a profit in the first quarter of 2024. The numbers are impressive for a two-year-old firm, particularly given the present market’s challenges for founder-focused startups.
How Fanfix enables Gen Z creators to monetize their passions?
Creators can set up a membership and a paywall and then submit material behind the paywall using the online application Fanfix. The lowest and highest subscription prices that creators can set are $5 per month and $50, respectively. With tools like “Tip-to-DM,” a pay-per-message service that lets fans pay anywhere from $3 to $500 to interact secretly with their preferred creators, influencers can also make even more money.
In addition, Fanfix has introduced a one-time purchase feature and a new message blast feature that allows creators. One-on-one calls, customized films, and founder-focused startups are further services under development. Fanfix also offers a dashboard for analytics, where users may monitor their revenue, subscription count, and other performance metrics. This tool can be helpful if creators wish to share metrics with brands and secure chances.
Commission and Comparison to Other Platforms
A 20% commission is taken as revenue by the platform. Compared to a few rivals, like Fanhouse, which takes just 10%, this is a little high. The monthly cost for one of Patreon’s subscription plans, which runs from 5% to 12%, is something that creators must sign up for. Fanfix stated that it charges and provides more premium service than other rivals, despite not having any plans to reduce the commission price, according to Gestetner. If you look at different platforms, many impose a processing fee on the producers. There are many unstated costs, and we are open and honest about how we make money, said co-founder Simon Pompan.
Fanfix is one in this market developing as the market leader in the pure Gen Z-first monetizing sector since our platform serves as wherein creators make the most significant amount of money. In general, creators are delighted with their commission fee because they know they are making a more significant profit on our platform than they are. Friends since high school, Gestetner and Pompan founded Fanfix in August 2021 while still enrolled in college. Gestetner and Pompan added Vine star Cameron Dallas to the group soon after starting Fanfix.
When Gestetner’s cousin went viral on TikTok and had tens of millions of views but was incapable of monetizing, this gave rise to the concept of Fanfix. Gestetner discovered after completing some studies that many creators were having financial difficulties.
The creative economy can generally be challenging to navigate, particularly among full-time, smaller artists trying to make ends meet. Smaller creators seldom land brand deals, much less reliable ones that guarantee a regular flow of income.
Why Should there be a Mechanism?
There needs to be a mechanism for artists to monetize directly from their devoted fans without dependence on brands, representatives, studios, or record companies as brand arrangements disadvantaged creators. He claimed that a clean, family-friendly Gen Z fan membership platform needed to be improved in the market. Because Fanfix’s target market is 13 to 24 years old, the network has strong content creation policies. They forbid nud_ity and anything that encourages unlawful activity. The platform takes extra precautions to safeguard users and creators under 18 with features like report capabilities and actual moderators who watch over founder-focused startups around-the-clock and double-check creator accounts daily.
Success of Fanfix and its Future Plans
Demers shared that he currently charges $8 for his subscription, which means he earns approximately $6.40 per subscriber per month. He has about 2,100 subscribers, which amounts to $13,500 monthly from subscriptions alone. This figure excludes any additional earnings he makes from tips and messaging. Fanfix has several successful creators, including Madi Monroe, Brooke Monk, and Anna Shumate, with an average of around 200 subscribers per creator on the platform. Demers was drawn to the concept of Fanfix. It allows him to share behind-the-scenes content without relying solely on brand deals. He appreciates interacting with his community of followers, which he can do through the messaging feature on the platform.
Fanfix’s Founders and Collaboration with SuperOrdinary
From sale time to SuperOrdinary in June 2022, Fanfix founders Gestetner and Pompan were only 21 and 23 years old. The deal was reportedly worth eight figures. SuperOrdinary collaborates with over 140 brands, including Farmacy, OLAPLEX, and The Honest Company, and operates its e-commerce platform, GalaGala. Influencers curate the brands featured on GalaGala. Fanfix creators will eventually be able to work with SuperOrdinary to sell products through their online stores. According to Gestetner, Fanfix creators have access to the entire SuperOrdinary ecosystem, including access to brands and other resources that other platforms can’t offer. In November 2022, SuperOrdinary launched SuperLink, a link-in-bio platform focused on monetization that features a creator’s Fanfix page. Creators receive 46% of the advertising revenue generated from SuperLink.
