Fanvue is a platform that allows content creators to connect with their fans and monetise their content. Recently, the company has raised $1 million (approx £724K) at a valuation of $30 million (approx £21.7 million) pre-money, ahead of its launch. The investment was led by undisclosed prominent angel investors.
Direct-to-fan model
Founded by William Monange and YouTuber Joel Morris (JMX) during the 2020 lockdown, the venture aims to offer all content creators an alternative to OnlyFans and Patreon, tapping into the explosion of the direct-to-fan model within the sector.
The company will focus on improved customer service, better discoverability, and advanced analytics and content security technology.
First half of 2021
As per the company, the product will be launched in the first half of 2021 and already has the backing of a number of unnamed but established content creators from other platforms ready to migrate across at launch.
The subscription content creator market is valued by Fanvue at $5-7bn* and used by more than 10 million paying customers a month of the exploding industry dubbed the ‘connection economy.
Co-founder Joel Morris said: “I’m from a creator background and that has made me aware of the serious flaws with current platforms. Fanvue has been built for creators by creators.
“We feel there’s a need for a better subscription platform for content creators tailored to their needs. The current products don’t do justice to the brilliant work of creators.
“Whereas the big platforms already seem out of touch with their creators, especially OnlyFans whose creator support is virtually non-existent and who prefer to pretend that the vast majority of their creators do not exist, Fanvue is designed as a platform inclusive for all creators whether that’s musicians, artists, videographers or adult content.”