Fanbase: Where Engagement Meets Earnings for Creator

Isaac Hayes III, the founder and CEO of Fanbase, recently joined Earn Your Leisure (EYL) to share his vision for creators’ empowerment. Fanbase, a subscription-based social media platform, offers creators an avenue to monetize their content directly, moving beyond the limitations of traditional advertising models. The interview explored the platform's origins, funding journey, and its revolutionary potential for reshaping the creator economy.

A Platform for Creators, By a Creator

Fanbase emerged as a response to the growing need for creators to gain equitable compensation for their content. Hayes explained the platform’s premise succinctly: “Fanbase is a social network that’s free to download and use, but it also allows creators to earn money directly through subscriptions.” By integrating peer-to-peer in-app purchases, Fanbase enables seamless monetization, making it simpler for users to support their favorite creators without needing credit cards.

“What Fanbase allows you to do is take out your phone and use a fingerprint or a face scan to subscribe,” Hayes said. He credited the platform’s 2019 launch with pioneering this model, which has since been adopted by major tech giants.

Funding Challenges and Triumphs

Despite its innovative model, Fanbase faced significant hurdles in securing funding. Hayes highlighted systemic barriers in venture capital funding for Black entrepreneurs, noting, “In 2023, Black startups received just 0.69% of all venture capital investment… It’s not happening, really. It’s very rare.” These challenges prompted Hayes to pursue equity crowdfunding, raising $10 million to date and aiming for an additional $7 million in the current round.

This approach, Hayes said, aligns with his mission to democratize ownership and wealth creation. “I’m the first Black man to raise $10 million in the Reg CF space,” he noted, underscoring the significance of community-backed investments. Fanbase’s valuation has skyrocketed to $160 million, validating its model and growth potential.

Scaling the Vision

Fanbase’s shift from startup to scale-up requires significant resources. Hayes outlined plans to expand the platform’s developer team from 25 to 75, accelerating the development of features users have come to expect. “If you want dark mode or carousels, invest in Fanbase,” he quipped, pointing to the platform’s ongoing crowdfunding campaign as a direct path for users to contribute to its growth.

The platform’s expansion also includes filing multiple patents and ensuring its offerings remain innovative. Hayes emphasized that Black culture has historically driven social media trends, yet Black creators often lack ownership of these platforms. “We’re the ones that bring these ideas to these spaces, but we don’t own them,” he said, positioning Fanbase as a solution to this disparity.

Beyond the Status Quo

Unlike traditional social media platforms reliant on advertising, Fanbase prioritizes user engagement and direct monetization. Hayes explained that advertising-based platforms suppress organic reach to maintain ad revenues, which hinders creators’ visibility. Fanbase flips this model by allowing creators to monetize their content directly, fostering deeper connections with their audiences.

“Engagement is king,” Hayes stated. “I want people to have 1.5 million views and 86,000 followers rather than the other way around. We show content based on what you like, not what the algorithm dictates.”

Fanbase in Action

The platform’s design supports creators at every level. Hayes shared examples of users earning substantial income with modest followings. “A user with fewer than 3,500 followers has made $10,000 this year,” he said, illustrating the platform’s potential to supplement everyday income. Fanbase’s model empowers creators to set their own financial goals, whether that’s covering monthly bills or generating six-figure revenues.

For creators with larger followings, the platform’s impact is transformative. Hayes cited Twitch streamer Kai Cenat, who earns $400,000 monthly from subscriptions. “Imagine driving a fraction of those earnings while maintaining ownership of your content,” Hayes said.

The Road Ahead

Looking forward, Hayes envisions Fanbase scaling to millions of users. “Our goal is to reach a million users by the end of this year,” he shared, noting that high-profile creators joining the platform could rapidly accelerate growth. “If Cardi B came to Fanbase tomorrow, it would immediately add a million users.”

Beyond user acquisition, Hayes aims to ensure Fanbase remains accessible to all while generating long-term value for investors. “I want to create multi-generational wealth,” he said, emphasizing that Fanbase’s equity crowdfunding model lets users invest in the platform they help build.

Disrupting the Creator Economy

Fanbase’s impact extends beyond social media. Hayes believes the platform sets a precedent for how creators can interact with technology, monetization, and their audiences. “Every person on Fanbase is a business,” he declared, stressing the empowerment that comes with earning directly from one’s work.

As social media evolves, Fanbase stands as a beacon for equitable monetization and cultural ownership. In Hayes’s words, “If we get this right, it’s going to be a game-changer.”