Patreon lays off 20% of staff, citing market changes and AI transformation

Published Jul 23, 08:36 PM UTC

Patreon, the creator-economy platform that helps YouTubers and podcasters monetize content, announced it is laying off 93 employees, approximately 20% of its workforce. CEO Jack Conte cited profound market changes over the past six months and the accelerating impact of AI on the tech industry as key reasons for the cost-cutting move. Despite the layoffs, Conte emphasized that Patreon's core business remains healthy, with over 300,000 creators earning billions annually and steady growth in members and revenue. The company plans to flatten its organizational structure and continue focusing on product development. This is Patreon's second major layoff in two years, following a 17% staff reduction in September 2022. The layoffs reflect broader trends in the creator economy and tech industry, with competitors like Substack, Beehiiv, and YouTube's membership tiers also vying for market share.