An important notice in change of billing model
Added 2024-10-16 07:46:31 +0000 UTCHello Patrons,
We've received a notice from Patreon that the billing model for the entire process will be changing from a 'first-of-the-month billing model' to a 'subscription billing model' on November 1st, 2024.
What does this mean to us? To be honest, we're not so sure, and we're hoping the change won't affect our community that much. We are concerned that this may potentially hinder how we conduct our Shikishi Tier... We will have to see how this change will effect changing subscription tiers in middle of the month.
Comments
You have until November 2025 (next year) to change to subscription billing if you selected the "Switch manually when you're ready" option in your settings. From what I've seen most people are doing this because the new subscription model results in more individual transactions and thus more transaction fees as payments are no longer aggregated on the 1st of the month but are billed individually with their own percentage + fixed fee. With this new subscription model more of the pledged money goes towards the payment processor, Apple and Patreon, not you. You can expect to lose up to US$0.30 (guessing US$0.08 average) per member as you will lose the benefits of "shared membership" transaction fees when you move to the subscription model from 1st of month model. You should only switch to the subscription model now if you want people to be able to pay 130% tier price *within* the iOS app. (people can still pay on the website and then use the iOS app with the current model)
WizardTim
2024-10-16 11:43:47 +0000 UTC
