Patreon to challenge YouTube with own video hosting platform

Patreon is creating a video-hosting solution and native player for all its content creators.CEO of Patreon, Jack Conte, confirmed the news to The Verge, and added that the company is also launching a podcast called 'The Creator Economy'.

Patreon is a membership platform that provides content creators with business tools to run a subscription service.

Speaking about the project, Conte said: "We already host podcasts, and now we’re starting to host video, as well. We’re building a video product ... So in terms of how we’ve approached our strategy, and what exactly it is that we’re building, we’re building the horizontal architecture for any creator, no matter their medium, or no matter the upload format, to be able to build a business around their work."

The new feature will presumably allow creators to host and share videos without leaving the platform. While there aren't many details available regarding the new feature, the progress will drive more users to the Patreon app and avoid YouTube altogether. The company's patron, Vimeo, will also become less important once the feature is launched.

Conte aims to "attract the most awesome, forward-thinking, curious people who are building for the creator economy to Patreon. We want those people to hear how we think about the world, and our vision, and what we want to build, and what we believe in, and who we are."