If you already have a million YouTube subscribers (LGR apparently has 1.3MM), you can certainly translate that fanbase into patronage, vis. “wealth by a thousand cuts.” There’s existing, pent-up demand (guilt?) to give you money for all the stuff you’ve already provided for free.
But if you’re that much of an “influencer” already, with that large an audience, then you’re likely already making money off of ads run on your content, and you’re likely already being offered plenty of sponsorship opportunities that you could take advantage of in place of—or alongside—pursuing patronage. (At a certain size, you even get offered to just have your name stuck on products as a brand. I know there are a good number of beauty and fashion “influencers” who end up—with no more effort than signing a contract—getting beauty/fashion products co-branded, and make royalties off of that.)
I’m more talking about what you have to do to make money off of Patreon if you aren’t starting with a built-in audience of potential subscribers. If you want to build that audience, directly through Patreon (i.e. via word-of-mouth of your subscribers, with no public presence), then you need whales, and you need a niche. It becomes something very similar to making money off of commissions, except that you can make more than a 100% return on any particular commission, relative to what you’d have made if you just did it as a work-to-order for the person who suggested it.
I'm a YouTuber in the IT field. Nearly 20 million views in all, 40,000 students on Udemy and 122,000 subscribers. Anecdotal, but I don't mess with Patreon, it doesn't work for me.
You are right about the sponsorships, ad's, affiliates and merch deals being where the money is for YouTubers.
But if you’re that much of an “influencer” already, with that large an audience, then you’re likely already making money off of ads run on your content, and you’re likely already being offered plenty of sponsorship opportunities that you could take advantage of in place of—or alongside—pursuing patronage. (At a certain size, you even get offered to just have your name stuck on products as a brand. I know there are a good number of beauty and fashion “influencers” who end up—with no more effort than signing a contract—getting beauty/fashion products co-branded, and make royalties off of that.)
I’m more talking about what you have to do to make money off of Patreon if you aren’t starting with a built-in audience of potential subscribers. If you want to build that audience, directly through Patreon (i.e. via word-of-mouth of your subscribers, with no public presence), then you need whales, and you need a niche. It becomes something very similar to making money off of commissions, except that you can make more than a 100% return on any particular commission, relative to what you’d have made if you just did it as a work-to-order for the person who suggested it.