This week Marco Arment released a new version of his podcast player, Overcast. I’ve heard a lot of great things about Overcast and Mr. Arment is know for releasing high quality, very useful, applications. So it’s no surprise it’s a popular pod catcher.

Overcast 2 brought streaming to the application as one of its major features but that was overshadowed by Mr. Arment’s new revenue model; Patronage

If you’d like to help Mr. Arment make a living and keep bringing us great software you can pay him in three, six, or 12-month increments which come to $12US annually. Not a bad deal for the application and, more importantly, the service that backs it.

According to Mr. Arment

“If only 5% of customers become monthly patrons, Overcast will match its previous revenue.”

A new revenue model is born. I think its a great idea.