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Crowd-funding service Patreon announced its latest benchmark Wednesday, with more than 3 million patrons supporting content creators each month through the company's platform. Patreon allows illustrators, authors, podcasters, musicians and other independent creators to receive crowd funding directly from their audience. The number of active patrons supporting artists on the platform in 2019 has seen significant growth, up 1 million over the last year, the company said. The company is also on track to pay out $500 million to content creators in 2019, pushing the company to surpass $1 billion in payouts since its inception in 2013. Under the company's current business model, 90 percent of funds are paid directly to content creators. Patreon takes 5 percent, and the remaining 5 percent covers transaction fees.

Jack Conte, founder of Patreon Patreon

Patreon CEO Jack Conte said in an interview with CNBC that the platform will soon be facing the challenge of maintaining a profitable model as the company continues its growth. "The reality is Patreon needs to build new businesses and new services and new revenue lines in order to build a sustainable business," Conte said. The company does not currently provide contracts, which allows users to retain 100 percent ownership of their work and full control of their brand. The company plans to provide creators with new "value services," like options for merchandising, to generate new revenue. Creators will be given the opportunity to participate in these services, and it could ultimately reduce Patreon's generous 90 percent pay-out model.