Want to support your favorite starving artist? A new payments website—one born out of frustration—can help you help them.
"Patreon" Co-founder Jack Conte is half of the musical group Pomplamoose, who started the site two years ago. The group had been putting their music online, and getting some payment via a YouTube channel.
Yet with so much free online content available, many musicians, writers and other creators are struggling to get paid for their efforts. Conte wants to alter that dynamic.
In an interview with CNBC's On The Money, Conte explains, "I spent three months working on a music videos, working eighteen-hour days, put it out, got half-a-million views… and got a check in the mail for a couple hundred bucks."
Conte added: "I thought, nope, that is not going to be how this works."
The musician decided to launch his own start-up with former Stanford roommate Sam Yam. Their idea was to create a digital fan club, to harness the power of fans. Thus was Patreon born, as a way for artists to make money from the songs, art and content they create.
"Artists get ongoing funding from their fans." Yam told CNBC.