1,000 True Fans? Try 100


62 bookmarks. First posted by freeatnet 20 days ago.


More than a decade ago, Wired editor Kevin Kelly wrote an essay called “1,000 True Fans,” predicting that the internet would allow large swaths of people to make a living off their creations, whether an artist, musician, author, or entrepreneur.
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9 days ago by beergeek
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “1,000 True Fans,” predicting that the internet would allow large swaths of people to make a living off their creations, whether an artist, musician, author, or entrepreneur. Rather than pursuing widespread celebrity, he argued, creators only needed to engage a modest base of “true fans”—those who will “buy anything you produce”—to the tune of $100 per fan, per year (for a total annual income of $100,000). By embracing online networks, he believed creators could bypass traditional gatekeepers and middlemen, get paid directly by a smaller base of fans, and live comfortably off the spoils.

Today, that idea is as salient as ever—but I propose taking it a step further. As the Passion Economy grows, more people are monetizing what they love. The global adoption of social platforms like Facebook and YouTube, the mainstreaming of the influencer model, and the rise of new creator tools has shifted the threshold for success. I believe that creators need to amass only 100 True Fans—not 1,000—paying them $1,000 a year, not $100. Today, creators can effectively make more money off fewer fans.

Here’s how it works: A creator can cultivate a large, free audience on horizontal social platforms or through an email list. He or she can then convert some of those users to patrons and subscribers. The creator can then leverage some of those buyers to higher-value purchases, such as extra content, exclusive access, or direct interaction with the creator.

This strategy is closely related to the concept of “whales” in gaming, in which 1 to 2 percent of users drive 80 percent of gaming companies’ revenue (though that model is evolving). Put simply, if you can convince a small number of super-engaged people to pay more, you can also have a general audience that pays less. By segmenting the customer base and offering greater value to top fans—at a higher price point—creators can earn a living with a smaller total audience.

Again, returning to the examples above, this isn’t purely hypothetical. One creator on Teachable who advises artists on how to sell their art made $110,000 last year with only 76 students, at an average of $1,437 per course. Another creator who teaches physiotherapy made $141,000 with only 61 students, at an average price point of $2,314 per course. On Podia, the average revenue per user is increasing, as well. Creators who started out solely selling courses on the platform can now further monetize their audience by expanding into downloads and membership subscriptions. While making a living off the 100 True Fan model is far from commonplace, it’s increasingly possible.

The recipe for earning $1,000 per fan
The monetization strategy for 100 True Fans also differs from the 1,000 True Fans convention. Easy perks like offering users ad-free content and access to back-catalogs can help creators monetize at a lower dollar amount. But to gain fans who are willing to pay $1,000 a year—no small sum—creators need to offer a step-function increase in value. The recipe, then, is to go niche and to tap into users’ desire for results. Practically, what does that look like? It means providing differentiated content, community, accountability, and access.

Premium content and community that has no close substitutes
Delivering tangible value and results
Accountability
Access, recognition and status
online-business  how-to-make-money  millenial-businesses  building-an-audience  content-creation 
11 days ago by lwhlihu
I’ll consider this a late birthday present—⁦⁩ gets a mention in a ⁦⁩ paper. 🤯
from twitter_favs
11 days ago by cpdis
via Pocket - 1,000 True Fans? Try 100 - Added February 07, 2020 at 07:20AM
IFTTT  Pocket 
12 days ago by thewavingcat
Interesting read looking at creating a high-value service for a small audience, and how to go about it. Interesting. 🤔
13 days ago by thingles
1,000 True Fans? Try 100 from
from twitter
14 days ago by TaylorPearson
In 2008, WIRED editor Kevin Kelly wrote that creators only needed to earn "1,000 True Fans"—at $100 per fan, per year—to make a living. I propose an update.
monetization  Marketing 
15 days ago by bonni208
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “1,000 True Fans,” predicting that the internet would allow large swaths of people to make a living off their creations, whether an artist, musician, author, or entrepreneur.
Pocket 
15 days ago by nildram
In 2008, WIRED editor Kevin Kelly wrote that creators only needed to earn "1,000 True Fans"—at $100 per fan, per year—to make a living. I propose an update.
15 days ago by jokela
Sound unlikely? We’re already seeing this shift, according to creator platforms. On Patreon, the average initial pledge amount has increased 22 percent over the past two years. Since 2017, the share of new patrons paying more than $100 per month—or $1,200 per year—has grown 21 percent. On the online course platform Podia, the number of creators earning more than $1,000 in a month is growing 20 percent each month, while the average number of customers per creator is growing at a rate of 10 percent. Likewise, on Teachable, the average price point per class offering has risen roughly 20 percent, year over year. In 2019, nearly 500 Teachable course creators made more than $100,000; of those, 25 averaged more than $1,000 per sale. 
Now, 100 True Fans and 1,000 True Fans aren’t mutually exclusive, and the revenue benchmark of $1,000 per fan per year isn’t intended to be an exact prescription. Instead, this thinking provides a framework for the future of the Passion Economy: creators can segment their audiences and offer tailored products and services at varying price points.
a16z 
16 days ago by elrob
FROM LI JIN
culture 
16 days ago by maoxian
In 2008, WIRED editor Kevin Kelly wrote that creators only needed to earn "1,000 True Fans"—at $100 per fan, per year—to make a living. I propose an update.
business 
16 days ago by rona25
Today, that idea is as salient as ever—but I propose taking it a step further. As the Passion Economy grows, more people are monetizing what they love. The global adoption of social platforms like Facebook and YouTube, the mainstreaming of the influencer model, and the rise of new creator tools has shifted the threshold for success. I believe that creators need to amass only 100 True Fans—not 1,000—paying them $1,000 a year, not $100. Today, creators can effectively make more money off fewer fans.
culture  Money  education  Social  Media 
16 days ago by oripsolob
$100/yr * 1000 fans = $100k/yr
$1000/yr * 100 fans = $100k/yr
Both can work.
Good analysis and suggestions.
Mostly for the "passion economy" (doing what you love).
patreaon  passioneconomy  fans  businessmodel 
17 days ago by drmeme
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “ 1,000 True Fans ,” predicting that the internet would allow large swaths of people to…
from instapaper
17 days ago by mathewi
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “1,000 True Fans,” predicting that the internet would allow large swaths of people to make a living off their creations, whether an artist, musician, author, or entrepreneur.
18 days ago by AnthonyBaker
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “1,000 True Fans,” predicting that the internet would allow large swaths of people to make a living off their creations, whether an artist, musician, author, or entrepreneur.
18 days ago by marksbren
1,000 True Fans? Try 100 - Andreessen Horowitz
from twitter
18 days ago by sammyrulez
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “ 1,000 True Fans ,” predicting that the internet would allow large swaths of people to…
from instapaper
19 days ago by jonbstrong
1,000 True Fans? Try 100
instapaper  article 
19 days ago by csilverman
In 2008, WIRED editor Kevin Kelly wrote that creators only needed to earn "1,000 True Fans"—at $100 per fan, per year—to make a living. I propose an update.
business  passionproject  employment  career  startup  fans  culture 
19 days ago by ivar
In 2008, WIRED editor Kevin Kelly wrote that creators only needed to earn "1,000 True Fans"—at $100 per fan, per year—to make a living. I propose an update.
19 days ago by misheska
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “ 1,000 True Fans ,” predicting that the internet would allow large swaths of people to…
from instapaper
19 days ago by fogus
As the Passion Economy grows, more people are monetizing what they love. The global adoption of social platforms like Facebook and YouTube, the mainstreaming of the influencer model, and the rise of new creator tools has shifted the threshold for success. I believe that creators need to amass only 100 True Fans paying $1,000 a year. Today, creators can effectively make more money off fewer fans.
business  elissa 
19 days ago by peterb
In 2008, WIRED editor Kevin Kelly wrote that creators only needed to earn "1,000 True Fans"—at $100 per fan, per year—to make a living. I propose an update.
patreon  youtube  business  fans 
19 days ago by nharbour
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “ 1,000 True Fans ,” predicting that the internet would allow large swaths of people to…
from instapaper
19 days ago by marcinignac
More than a decade ago, Wired editor Kevin Kelly wrote an essay called “ 1,000 True Fans ,” predicting that the internet would allow large swaths of people to…
from instapaper
19 days ago by tomfm
1,000 True Fans? Try 100 - Andreessen Horowitz, More than a decade ago, Wired editor Kevin Kelly wrote an essay called “ 1,000 True Fans ,” predicting that the internet would allow large swaths of people to…, via Instapaper
Instapaper 
19 days ago by paulp
My theory of 1,000 True Fans has been brilliantly extended by @ljin18 to include the mode of 100 True Fans. It's a shift from star benefit to fan benefit. I…
instapaper 
19 days ago by derekbrown