Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Clubhouse launches payments for creators
TechCrunch | Natasha Mascarenhas | Apr 5, 2021
Clubhouse, a one-year-old social audio app 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, as the “the first of many features that allow creators to get paid directly on Clubhouse.”
Clubhouse declined to comment. Paul Davison, the co-founder of Clubhouse, mentioned in the company’s latest town hall that the startup wants to focus on direct monetization on creators, instead of advertisements.
See: Using ecosystems to reach higher: An interview with the co-CEO of Ping An
Here’s how it will work: A user can send a payment in Clubhouse by going to the profile of the creator to whom they want to give money. If the creator has the feature enabled, the user will be able to tap “Send Money” and enter an amount. It’s like a virtual tip jar, or a Clubhouse-branded version of Venmo (although the payments feature doesn’t currently let the user send a personalized message along with the money).
“100% of the payment will go to the creator. 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. “Clubhouse will take nothing.”
Stripe CEO Patrick Collison tweeted shortly after the blog post went up that
“It’s cool to see a new social platform focus first on participant income rather than internalized monetization / advertising.”
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 for being a recurring host.
See: Fintech Fridays EP48: How to Connect and Resonate with Customers Through Podcasting
Creator monetization, with a cut for the platform, has led to the growth of large businesses. Cameo, a startup that sends personalized messages from creators and celebrities, takes about a 25% cut of each video sold on its platform. The startup reached unicorn status last week with a $100 million raise. OnlyFans, another platform that helps creators directly raise money from fans in exchange for paywalled contact, is projecting $1 billion in revenue for 2021.
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