What is fan pay?

Can you please explain to me in simple terms what fan pay is? I've heard of it being used in the entertainment industry and I'm curious to know how it works. Is it a new way for fans to support their favorite artists or creators? How does it differ from traditional payment methods and how does it benefit both the fans and the artists or creators involved? I'd appreciate it if you could provide a concise yet informative answer to help me better understand this concept.