Clubhouse, a year-old social audio app reportedly worth $ 1 billion, will now allow users to send money to their favorite creators – or speakers – on the platform. In a blog post, the startup announces the new monetization feature, Clubhouse Payments, as the ‘first of many features that allow creators to be paid directly to Clubhouse.’
Clubhouse declined to comment. Clubhouse co-founder Paul Davison mentioned in the company’s latest town hall that the company wants to focus on direct earnings on creators, rather than advertising.
This is how it will work: A user can send a payment in clubhouse by going to the profile of the maker to whom he wants to give money. Once the creator has enabled the feature, the user can tap on “Send Money” and enter an amount. It’s like a virtual fee or a version of Venmo by Clubhouse (though currently users can not send a personal message with the money).
‘100% of the payment goes to the creator. The person who sends the money will also charge a small ticket processing fee, which goes directly to our payment processing partner, Stripe, “reads the report.” Clubhouse will not take anything. “
Stripe CEO Patrick Collison tweeted shortly after the blog post went up: ‘It’s cool to see a new social platform focus first participant revenue rather than internalized monetization / advertising. ”
When the launch of Series B in January, led by Andreessen Horowitz, took place in January, a portion of the $ 100 million report would go to a creator grant program. The program would be used, according to a blog post, to support ’emerging clubhouse creators’. It’s unclear how they define emerging definitions, but cultivating influencers (and rewarding them with money) is one way in which startup promotes high-quality content on its platform.
The synergies here are obvious. A clubhouse creator can now get tips for a great show, or raise money for a great cause, while also being rewarded by the platform itself as a returning host.
The fact that Clubhouse’s first attempt at monetization does not include any percentage cut of its own is certainly noteworthy. Monetization, or the lack thereof at Clubhouse, has been a point of discussion over the buzzing startup since it began in the early pandemic months. Although it currently relies on venture capital to get the wheels turning, it will eventually have to earn money to be able to be a self-sustaining business.
Creation monetization, with a cut for the platform, has led to the growth of large enterprises. Cameo, a startup program that sends personalized messages from creators and celebrities, takes about 25% of every video sold on its platform. The startup reached unicorn status last week with an increase of $ 100 million. OnlyFans, another platform that helps creators raise money directly from fans in exchange for contact with paywalls, plans $ 1 billion in revenue for 2021.
Clubhouse’s payment function will only be tested by a ‘small test group’ today, but it is unclear who is in this group. Eventually, the payment feature will be introduced in waves to other users.