Patreon, a company that lets artists collect monthly dues from their fans in exchange for access to content, is reversing course on newly announced changes to its payment structure after significant backlash.

Tough decision: As CEO Jack Conte tried to explain last week, the company wanted to tackle some issues with its current model, including the month-to-month variations in fees incurred by artists and creators. Unfortunately, as users quickly pointed out, the new fee structure, which included a flat per-transaction fee, would have disproportinately impacted small pledges of $1 and $2.

  • Many artists worried this would discourage their fans, who would now pay those extra fees, from contributing.
  • Some critics even accused the company of making the changes solely to boost its own revenues (it takes a 5% cut from earnings) now that it's raised new funds from venture capitalists.

Instead, Patreon says it will work with its users to come up with new ways to fix its fee issues.

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Quibi says it's shutting down

Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images

Quibi, the mobile-only video subscription streaming service, is shutting down, the company announced Wednesday. The company said the decision was made to preserve shareholder equity.

Why it matters: Quibi had struggled to hit its subscriber growth targets amid the global pandemic. The app launched six months ago.

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Illustration: Aïda Amer/Axios

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House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.

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