The clubhouse, a one-year social audio app that is reportedly valued at $ 1 billion, will now allow users to send money to their favorite creators – or speakers – on the platform. In a blog post, the startup announced the new monetization feature, Clubhouse Payments, “the first of several features that allow creators to pay directly to the clubhouse.”
The club house declined to comment. Clubhouse co-founder Paul Davison noted in the company’s latest town hall that the startup wants to focus on direct monetization on creators rather than advertisements.
Here’s how it will work: A user can send a payment to the clubhouse by going to the profile of the manufacturer they want to pay. If the manufacturer has the feature enabled, the user will be able to tap “Send Money” and enter an amount. It is like a virtual tip jar, or a clubhouse-branded version of Venmo (although the payment feature does not currently allow the user to send a personalized message with money).
“100% of the payment will go to the manufacturer. The person sending the money will also be charged a small card processing fee, which will go directly to our payment processing partner, Stripe, ”the post reads. “The club house won’t take anything.”
Stripe CEO Patrick Collison tweeted shortly after the blog post went “that it’s good to focus on seeing a new social platform first” Participant Income instead of internal monetization / advertising. “
When the startup raised a Series B led by Andreessen Horowitz in January, part of the reported $ 100 million funding was asked to go into a producer grant program. According to the blog post the program will be used “to support emerging clubhouse creators”. It’s unclear how they define emerging, but cultivating influential people (and rewarding them with money) is one way a startup is promoting high-quality content on its platform.
The synergy here is clear. A clubhouse producer can now get tips for a great show, or raise money for a great cause, while also being rewarded by the stage itself for being a recurring host.
The fact that the clubhouse’s first attempt at demonetisation has no percentage of it is certainly notable. Demonetization, or the lack of a clubhouse, has been the subject of discussion about buzzy startups since it took off in the months of the initial epidemic. While it currently relies on venture capital to churn the wheels, it will eventually need to make money in order to be a self-sufficient business.
Manufacturer demonetisation, along with reductions to the platform, has led to the growth of large businesses. Cameo, a startup that sends personal messages from creators and celebrities, cuts about 25% of every video sold on its platform. The startup reached a lopsided position last week with a raise of $ 100 million. OnlyFans, another platform that helps creators raise money from fans in exchange for direct paid contact, is forecasting $ 1 billion in revenue for 2021.
The club’s payment facility will be tested by a “small test group” starting today, but it is unclear who is in this group. Eventually, the payment feature will be rolled out to other users in waves.