Content creators are always searching for new ways to monetize their content. And with Congress eying restrictions on Tiktok, many are looking to diversify their income sources by turning to Fanfix.
What is Fanfix?
Founded in 2020, Fanfix was created as an alternative to Patreon, a subscriber-based social media platform. The platform has about 10 million users, about one-third of the users on Tiktok. But Fanfix data shows that content creators make an average of $70,000, the mid-range income of content creators on Tiktok. So, there’s potential for content creators to take advantage of the growing platform.
It doesn’t have to be expensive or difficult to get good video content!
How does Fanfix work?
After creating a membership, Fanfix users set up a paywall and set their subscription price. Content creators have to charge at least $5 and can charge up to $50 for their content. While it’s a lower maximum than Patreon’s $100 cap, content creators can earn extra money using the “Tip-to-DM” feature, which allows subscribers to pay between $3 and $500 to start a private chat.
A downside to Fanfix is that the platform takes a 20% commission. That’s significantly higher than other platforms. But, the platform argues their transparent approach makes up for the higher commission fee. The company also launched SuperLink, a link-in-bio platform that displays a content creator’s Fanfix page. Creators get 46% of the ad revenue, giving Fanfix creators another opportunity to monetize their brand.
“Fanfix is one in this space that’s emerging as the leader in the clean Gen Z-first monetization space because our platform, very simply, has been the place where creators earn the most money,” co-founder Harry Gestetner told TechCrunch. “Creators generally are very happy with the commission fee because they know that they’re earning more money on our platform than they do elsewhere.”
The platform was also recently acquired by SuperOrdinary, a company that has its own e-commerce platform called GalaGala. While it’s not available yet, Fanfix creators will have access to GalaGala, so those who have their own products could benefit from being on Fanfix because they’ll be able to sell their own products on GalaGala eventually.
The subscription model
Some people have been skeptical about the sustainability of earning money through subscriptions for content creators. With so much free content out there, why would people choose to pay to see someone’s behind-the-scenes content? Gestetner related it to Gen-Z gamers, who pay for skins on Fortnite, and tipping on Twitch. He told Forbes that the overwhelming amount of free content that’s available has left users craving exclusive content and the feeling that they’re part of a community. Plus, audiences are increasingly looking for the creators they interact with to be more authentic.
“My subscription rate is currently $8, which leaves me making around $6.40 from each subscriber per month,” Savannah Rae Demers, a 22-year-old content creator, told TechCrunch. “With around 2,100 subscribers, that is already about $13,500 a month just from subscribers. That does not even include additional tips and earnings from messaging.”
Fanfix’s target audience is people between the ages of 13 and 24, according to TechCrunch. And the company has implemented strict community guidelines in an effort to keep the content “clean.” Nudity isn’t allowed on Fanfix and anyone looking to promote online gambling must get the company’s written permission.
Since the company targets a younger demographic, Fanfix has human moderators that monitor private messages 24/7 with all users and creators who are under 18. Creators over the age of 18 can also enable a “safe mode” feature, that allows humans to review their messages, as well.
Fanfix is gaining popularity among Gen Z and co-founder Cameron Dallas told Forbes the platform gives creators a way to monetize their content without “sacrificing your brand image and moral compass.” It’s something Dallas said he wished he had when he was younger and that the platform’s getting positive feedback from users.
Fanfix growing pains
One noticeable difference between Fanfix and other platforms is that there isn’t a dedicated app yet, so you can’t just go to the Google Play store or Apple Store to access content or post your own. If you don’t want to constantly have to go to the website on your phone, you can create a shortcut so the website functions like a mobile application. On iPhones, hit the share button, then “add to home screen.” On Android devices, tape the three dots in the top right corner, then “add to home screen” from the dropdown menu.
Moving over to Fanfix might require some content creators to adjust their strategies and adapt to a subscription-based model. But, with the crackdown on social media at the state and national levels, it’s almost always worth trying new platforms and learning new monetization techniques.