I found this conversation between Wyatt Jenkins, SVP of product at Patreon, and Cherie Hu of the Water & Music podcast absolutely fascinating:

So what Patreon is is a membership platform. And what that means as a patron, as someone who is a fan of a musician, is you are a part of that tribe. You have an inside view, you get the merch first, you get to understand what songs are coming out later, you can have creative input — those are all the kinds of things that happen in a membership that’s fundamentally different than a subscription. Back to what we’re trying to define here: we are defining membership on the web as a way to deliver really unique value to fans.

They do a deep dive into the music industry, where it’s going, and how musicians could better use platforms like Patreon to build meaningful connections with fans.