• The Economic Outlook: The Impact of the Decision for Supporting Streamers

Titled “Tapping Into the Impact: Assessing the Economic Consequences of Patreon’s Upgrade”

The ongoing saga between music streaming giants like Apple and Spotify with the more unconventional financial services platform, Patreon, is unfolding with a groundbreaking ruling that could have a long-term effect on the payments industry. The ruling, as described by CNBC, could potentially impact the payments landscape and tech industry as we know it. 9News has reported that the decision, handed down by the European Commission on May 18, 2021, aims to ensure fair competition among payment processors on the European continent.

The Ruling and its Timeline: A Historic Decision for Web-based Platforms

• The Timeline of the Decision

Last year, the European Commission announced a landmark ruling regarding payments, and it has finally led to Patreon being granted a green light to update its iOS app. The ruling, issued by the European Commission on May 18, 2021, has allowed these services, including Spotify, to sidestep Apple’s payment system and potentially allow users to pay creators directly, a move that could potentially bring about a more inclusive payments landscape.



The Impact of the Ruling

• The New Opportunity for Patrons &amperspoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpoundpou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  Conclusion

  As Patreon takes steps to update its iPhone app, sidestepping Apple’s payment system, it’s clear that the company is taking a bold stance against the tech giant’s strict rules. The article highlights the key points, including Patreon’s desire to give creators more control over their earnings, as well as the potential for Apple to take a 30% cut of transactions. By bypassing Apple’s payment system, Patreon aims to reduce its own fees and give creators a larger share of the revenue.

  The significance of this move goes beyond just a dispute over payment fees. It’s a reflection of the growing tension between tech giants and the creators they rely on for content. As the digital landscape continues to evolve, it’s crucial that platforms like Patreon prioritize fairness and transparency in their business models. The implications of this update are far-reaching, with the potential to reshape the way creators and platforms interact. It also raises questions about the role of intermediaries in the digital economy and the need for more equitable distribution of revenue.

  As Patreon takes this bold step, it’s clear that the future of digital content creation will be shaped by these kinds of power struggles. Will other platforms follow suit, or will they continue to rely on Apple’s payment system? The answer remains to be seen, but one thing is certain: the fate of the digital economy will be determined by the conversations and compromises made today. As creators and platforms navigate this new landscape, one thing is clear – the era of intermediary mediocrity is coming to an end, and a new era of transparency and fairness is on the horizon.

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