Patreon has acquired Moment, the livestream ticketed events startup that has worked with international stars such as Justin Bieber and Tame Impala.
The monetisation platform said the expansion of its digital events offering fits with the recent revamp of its service. The acquisition of the Los Angeles-headquartered company follows its overall strategy, as outlined recently, of bringing creators and fans closer together.
The businesses said the plan for the coming months is to integrate foundational elements of the Moment and Patreon platforms to enable creators and fans to have a seamless experience across membership, digital commerce and digital event products.
Moment’s livestreaming events have been viewed by millions of fans since it was founded as Moment House in 2019. It has been backed by investors from Silicon Valley and the music industry, including Scooter Braun, Troy Carter and Jared Leto.
“Patreon’s mission has always been to help creators take control over their work, deepen connections with their most passionate fans, and build successful, sustainable businesses,” said Jack Conte, co-founder and chief executive of Patreon.
“On the heels of releasing our new brand identity, mobile app, and a suite of creator tools, joining forces with Moment will further strengthen Patreon’s offerings for creators.”
Premium live experiences
The deal, which closed on Monday, will bring all of Moment’s employees to Patreon. Financial terms were not disclosed.
Moment has worked with numerous artists and creators, including Kygo, Pod Save America and Good For You Podcast with Whitney Cummings.
“We built Moment to help artists and creators gather their global communities for premium live experiences while providing them complete control over creative and monetization,” said Moment chief executive Arjun Mehta.
“We are excited to join the Patreon team and deliver an even better, integrated experience to many more creators and their communities.”
In a blog post, Patreon added: “Over the next decade, Patreon is setting out to build a sustainable future for creators by giving them a direct line to the people who love their work and acquiring Moment marks an important step in that journey.
“We can’t wait to see all of the Moments our community of musicians, podcasters, comedians, and more, creates.”