Source: Simon Owens's Media Newsletter
YouTube is deploying significant cash to lock down creator content, revealing that platforms still cannot reliably funnel new viewers to creators—the core value Patreon promised to solve. When creators need million-dollar guarantees to stay put, algorithmic discovery and subscription models have not replaced the old winner-take-all dynamics; they have layered new middlemen on top of them. The shift is toward creators playing platforms off each other for minimum guarantees, a strategy that benefits only those with existing audiences large enough to command deals.