Go Fund Yourself
When talking about success, it is important to distinguish ...
Definitions of success
Crowdfunding campaign
- Ziele im Zeitraum während der Kampagne, direkt Verbunden mit der Kampagne - Definiertes Ziels: Sammeln von Ressourcen - Verschiedene Möglichkeiten Erfolg zu erzielen, Branchenabhängig? z.B.: Kommunikation durch Netzwerke, Präsents in den Medien, Werbung, Grafische Darstellungen (Optik), .. usw. - Klarer Erfolg: durch Erfolg von genug Ansammlung von Ressourcen oder nicht
Crowdfunding project
- Ziel kann nach der Kampagne entstehen/geschehen, nicht direkt Verbunden mit der Kampagne - Durch Kampagne nicht immer ersichtliches Ziel, z.B.: Werbung, Aufmerksamkeit/Nachdenklichkeit wecken, schockieren, Investoren begeistern usw. - Erfolg ist nicht so sehr gebunden an Kampagne Eine Kampagne kann Erfolgreich sein, dieser Erfolg muss jedoch nicht mit dem Erfolg des Projekts an sich zusammenhängen. Interessant wird die Analyse in den Beispielen, in welchen der Erfolg der Crowd Founding Kampagne nicht gleich auch den Erfolg des Projekts bedeutet und umgekehrt.
Statistics per category
A variety of factors influence the end result of a Crowd funding campaign, such as: the platform being used, seriousness in approach to the project, proper social networking, use of media in explanation of the project, realistic projection of funding goals, research of the best suitable rewards, and so on . However, success of the project can also have something to do with the category it belongs to. Some categories are more interesting for potential donors and more popular than others. 'Market' saturation is another element that influences potential success in a way that the large number of project in a category will result in a lower success rate. That is why it is important to analyze and compare categories based on the current number of projects and success rates, and to see if the link between success of the campaign and the category it belongs to can be made.
The overall success rate for projects hosted on the biggest and most successful platform -('Kickstarter') is approximately 44% (as of January 2014), which means that more than half of the crowdfunding campaigns do not reach their ultimate funding goals. Nevertheless, some categories have better rates than others do. While these statistics are based on Kickstarter projects, they can apply to all of the crowdfunding industry. Dance and Theatre with their 71% and 64% success rates are the most successful categories on this platform. The most unsuccessful categories are Publishing and Fashion with 32% and 30% success rates. Astonishingly, Games and Technology are one of the categories with the lowest rates of success (both have only 35%), being that games and technology projects were responsible for the blooming of the crowdfunding platforms. With its 40% and 48% rates, Film and Art stand in the middle of the Success Rate Graph.
Another important parameter in analyzing statistical data is the number of the projects, where it can be seen that the most popular categories are Film and Video (with a total number of 29624 projects) and Music (with a total number of 24707 projects). Games has 6841, Technology 2887, Art 10374, whilst Dance has only 1517 projects. The statistics also show that when it comes to average funding per Campaign, category Games is on the second place with 36,162.84 $. Technology, which is one of most unsuccessful categories, is on the first place with 40,095.29 $, while Dance has only 10,572.08$, whilst Art has only an average of a 4895,00 $ per campaign. Even though category Games is one of the least successful, it has also in total the highest gross of 160 Million Dollars. It is somewhat a paradox, and it has to do with the fact that a successful game a lot of times gets overfunded and exceeds its funding goal (Game Broken age had exceeded the $400,000 goal with more than $3.3 million from over 87,000 backers).
What the data shows is that a link between the rate of success and the average funding per campaign can be found. Two of the most successful categories, Dance and Theater, have also one of the lowest funding goals. Furthermore, Games and Technology, one of the least successful categories have also the highest funding goals. A grate success of the Dance has probably a lot to do with the low funding goals and the fact that there are 1,3 % of the dance crowdfunding campaigns. Another aspect that should be analyzed is sociological, where the dance and art 'offline' society is a rather stronger connected, as appose to 'games' society. With a small funding goals and with the first ring of the donations that are based on the friends and family pledges, it is simpler for an artist or a dances to come to it's goal. However, majority of the campaigns don't even surpass the first step of the funding, and near 80% of them never raised more than 20 % of their goal.
Project analysis
Broken Age
Broken Age is an episodic point-and-click adventure video game, Tim Schafer’s first return to the genre since 1998’s Grim Fandango.
Broken Age began under the working title Double Fine Adventure as a Kickstarter crowdfunded project promoted by Double Fine and 2 Player Productions in February 2012. Originally a goal of $400,000 was set to cover the costs of development and documentary filming, it became the largest crowdfunded video game project at the time, raising over $3.45 million from more than 87,000 backers within the month. It remains one of the highest-backed crowdfunded projects of any type, and its success helped to establish Kickstarter and other crowdfunding mechanisms as a viable alternative to traditional venture capital and publisher funding for niche video game titles.
ILLO: Birth of the Cool
Raylight Games, attempted to fund its Illo: Birth of the Cool – via both Kickstarter and Indiegogo. The game is a surreal puzzle adventure, designed for platforms with tilt, touch and microphone inputs, including iOS, Android, PlayStation Move, Kinect, Wii U, PS Vita and 3DS.
Marina Abramović Institute
25 August 2014., the Marina Abramović Institute (MAI) Kickstarter campaign successfully surpassed its $600,000 its funding goal with 4,765 backers contributing a grand total of $661,452.
New York City Opera
The People’s Opera – New York City Opera – has focused on producing unique works, showcasing emerging young artists, and educating the next generation of performing arts lovers. Throughout its history as The People's Opera, NYC Opera has made opera accessible and affordable. People opera exists to give everyone an alternative artistic experience, unique and accessible to all. And now NYC Opera needed help to produce its upcoming season. The New York City Opera has raised only $301,019 and the goal was 1 million dollars. Funding for this project was canceled by the project creator on September 30, 2013.
The 'People's Opera' has struggled in recent years. It closed its doors in 2008 for a refurbishment that coincided with the Financial Crisis, and has struggled to make ends meet since then. Organizers describe the crowdfunding campaign as 'urgent', but it is only a slice of a larger call for $7 million by the end of September. New York City Opera did not achieve the goal on Kickstarter but they have raised $1.5 million outside of Kickstarter, but they still have not reached the goal. Even in an urgent situation, $1 million is a big ask for an arts project.
Veronica Mars
This project was successfully funded on April 13, 2013. on Kickstarter. It had 91,585 backers. They pledged $5,702,153 of $2,000,000 goal. The movie earned on Box office $3.5 million.
Veronica Mars is a American neo-noir mystery comedy-drama movie. It is sequel, film adaptation based on Thomas' UPN/CW television series of the same name (2004-2007). The movie is co-written, produced, and directed by Rob Thomas and co-written with Diane Ruggiero. Kristen Bell has role as the title character. Its executive producers are Joel Silver, Bell, and Jenny Hinkey. Warner Bros. Pictures opened the film in the United States theatrically and on video-on-demand on March 14, 2014.
Darci’s walk of shame
Funding for this project was canceled by the project creator on May 13, 2013. It had 315 backers. They pledged $51,605 of $2,000,000 goal. Melissa Joan Hart launched a fundraising campaign Kickstarter for a movie where she should have a leading role. Melissa is the star of the 1990s tween sitcoms 'Sabrina the Teenage Witch' and 'Clarissa Explains it All'. The movie, 'Darci's walk of shame' is described as a romantic comedy about a unemployed schoolteacher who travels alone to her sister's wedding in Thailand, has a affair with one of the waiters and then must endure “a very long, confusing walk of shame in a ridiculously bright coloured taffeta bridesmaid’s gown”.
In a promotional video Melissa told fans: “I need your help to prove to people that I’m more than just Clarissa or Sabrina.” Project wasn't connected with a facebook and didn't had a poster and a trailer. Hart also pleaded for fans to take a "leap of faith" in donating and "do what Hollywood won't, and that is to take a chance on me as the lead of a romantic comedy film." She also asked fans to give her the first leading film role she's had since "Drive Me Crazy," in 1999. Hart hoped to raise $2 million in fan donations but after about a month collected only $51,605 from 315 fans.The Kickstarter fundraising page was shut down on May 13, 2013. One of the reasons of not successfull campaign is maybe not so attractive, not original awards for donating money. Here are some:
Pledge $1 or more 77 backers At just $1, you can still be a part of the project, and you'll receive exclusive backer updates throughout the production! Every $1 will help Darci take her walk of shame. Estimated delivery: May 2013
Pledge $10 or more 59 backers You will receive a PDF of the shooting script after the film’s release. Additionally, you will receive updates and information as we prep and shoot the film. Estimated delivery: Jun 2014
Pledge $25 or more 48 backers You will be sent a limited-edition Darci’s Walk of Shame T-shirt. Wear it proudly, but if you wear it out for a night on the town, keep another shirt handy just in case you meet a special someone and want to avoid your own, personal walk of shame. In addition, you’ll also receive the PDF of the shooting script. Estimated delivery: Jun 2014 Ships anywhere in the world Pledge $35 or more 43 backers You will receive a digital download of the movie within a few days of the movie’s theatrical debut, or the same day of the DVD release. You will also receive the PDF of the shooting script.
- AS IN THE PROJECT DESCRIPTION, THIS AWARD IS AVAILABLE ONLY TO U.S. AND CANADA BACKERS.
Estimated delivery: Jun 2014
Pledge $100 or more 2 backers Limited (398 left of 400) ADVANCE BACKERS' SCREENING and Q&A IN LONDON Yes, that's right. London. Why London? You can ask Melissa and Tibor after the screening at the Q&A! You'll also receive the T-Shirt and movie poster. You will have to provide your own travel and accommodations in London. Estimated delivery: Jun 2014
Pledge $100 or more 3 backers Limited (97 left of 100) Two of our main cast members (not Melissa Joan Hart) will follow you on Twitter for a full year. We don't know who they are yet, but we know you'll want them following you (on Twitter only)! You'll also receive the limited edition T-shirt and the PDF of the shooting script. Pledge $200 or more 3 backers You will receive a physical, paper copy of the shooting script, signed by Melissa Joan Hart and the cast-to-be-named-later. You will also receive the official movie poster and the DVD. These items will be shipped within the first few days after the movie’s release. Estimated delivery: Sep 2014 Only ships to: United States Estimated delivery: Jun 2014 Only ships to: United States
Pledge $250 or more 16 backers Limited (84 left of 100) You will receive an on-screen thank you during the end credits of the film! You and 99 others will be specially thanked for your help in making this film possible. You’ll also receive the signed movie poster and the DVD.
- Another disclaimer! We will do everything in our power to make sure your name is spelled correctly and we don’t miss any names or leave anyone out. However, mistakes are made, and if we make one here, be assured there is no intent. We ask for your forgiveness, with the understanding that once the film is released, we won’t be able to make any changes.
Estimated delivery: Jun 2014 Pledge $500 or more 0 backers Limited (100 left of 100) Melissa Joan Hart will record up to a 20 second outgoing voicemail message for you. You can decide the content (in good taste, please). We’ll also send you a few suggested greetings to choose from. You will receive this award in the form of an mp3. You’ll also get a signed movie poster, a DVD and the PDF of the movie shooting script. Estimated delivery: Jun 2014 Ships anywhere in the world
Pledge $1,000 or more 4 backers Limited (96 left of 100) Two tickets to the red carpet “Darci’s Walk of Shame” premiere in Hollywood, California, to be attended by the cast and filmmakers, plus two tickets to the exclusive after-party, also attended by the cast and creators. You’ll also receive the signed movie poster, the DVD and the PDF of the shooting script. Estimated delivery: Jun 2014 Ships anywhere in the world
Pledge $5,000 or more 0 backers Limited (5 left of 5) You will receive an original costume worn in the film by Melissa Joan Hart. It might be a dress, it might be a beautiful pair of shoes, but it will come with a certificate of authenticity signed by Melissa, along with a photograph of Melissa from the film wearing your item. You’ll also receive the DVD, the signed poster and the PDF of the shooting script. Estimated delivery: Jun 2014
Pledge $8,000 or more 0 backers Limited (4 left of 4) Be an Associate Producer! You will receive on-screen credit in the final end titles of the film as “Associate Producer.” You’ll be invited to a day on the set (you pay for travel) and you’ll get your own director’s chairback with your name and title (chair not included). If you can’t make it to the set, you’ll still get the chairback and you will see your name on screen. You’ll also receive two tickets to the Hollywood premiere and after-party, where as an Associate Producer, you get to…associate with the producer! (You pay for travel, lodging and transportation) You’ll also get the signed script, movie poster and DVD. If you come to the set and you’re really nice, the director might even let you yell “Action!”
- ANY MINOR MUST BE ACCOMPANIED BY A PARENT OR LEGAL GUARDIAN, AND YOU MUST HAVE A VALID PASSPORT TO TRAVEL TO LOCATION.
Pledge $10,000 0 backers Limited (2 left of 2) Darci’s Walk of Shame takes place at a wedding. At this award level, our cast will “appear” at your wedding! We will make a personalized video from our set that you can play at your event (or on You Tube, or both). Melissa and her co-stars will toast you, send their best wishes for your happiness, and if you’d like, introduce you to your guests as husband and wife for the first time! It’s a video experience that will last a lifetime. P.S.: You’ll also receive the signed script, movie poster, T-shirt and DVD. Estimated delivery: Jun 2014
Melissa Joan Hart gave a statement for a Los Angeles Times explaining the possible reasons for failed campaign.
"We didn’t give fans the two things it takes to sell a movie: a poster and a trailer. I really think that’s where we missed the boat."
She also explains that her team didn't "let the fans know exactly what the project was," and that perhaps it would have been a good idea to get a full cast on board before launching the campaign. "We thought we could do it based on 'Hey, here's Melissa. You've liked what she's done, check out what she's going to do next,'" she says. Some comments on Kickstarter page can describe why campaign didn't succeed.
I think the people that created this need to be a whole lot more humble. "Two of our main cast members (not Melissa) will follow you" Honestly?? I love you Mel, but I can't, I just can't. I hope you give this another shot though and this time succesful.
Wrote Gui Omena on May 12, 2013
Do some good pre-campaign marketing BEFORE starting the campaign. Create excitement. If you can swing it, film a short scene from the script with stand-in actors to show people what you hoping to do.
Wrote Merin on May 9, 2013
The newest hottest Spike Lee joint or "Da sweet blood of Jesus"
This project was successfully funded on August 21, 2013. It had 6,421Backers. They pledged $1,418,910 of $1,250,000 goal.
In a description on Kickstarter page is written that is a movie about Human beings who are addicted to Blood. Funny, Sexy and Bloody. A new kind of love story (and not a remake of "Blacula").
When Lee launched the he received a lot of criticism for not knowing much about the community standards of the platform he was asking for money on and not saying nothing about the film except the short description above. He also encountered the "get celebrities off of Kickstarter" trend. For people it was strange why someone as wealthy and connected as he was needs a Kickstarter to fund his projects.
But he changed some stuff in his campaign and the result was great. His project was successfully funded.
He explained that he often has more trouble than you'd imagine producing the films he most wants to get made. He also appeared on Bloomberg News and got in a heated discussion with the host which had led to a big day of donations for his project. Good PR is very immportant, before and during the campaign!
He announced that Raphael Saadiq is composing music for the film. Next announcement was that British actress Zarrah Abrahams will play the lead female role in the film.
He started to constantly update his campaign and interact with fans. He also changed the promotional video and the key art for campaign alluding on the style Do the Right Thing, classic examination of racial tension in Brooklyn. And that was much better.
He hosted a hipster hangout party in Brooklyn with a $25 cover at the door and made very interresting, attractive awards for backers. Here are some.
Pledge $5 or more 601 backers Special Thanks Tweet From Me and Access to Behind the Scenes Project Updates Estimated delivery: Sep 2014
Pledge $10 or more 379 backers Autographed Postcard by Me. Only for the $10 pledges. Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $10 or more 72 backers Limited (28 left of 100) Badges (4" x 6") From Our Various Brooklyn Loves MJ Parties Signed By Me. Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $20 or more 591 backers Watch A Special Screening Online Opening Weekend plus Behind the Scenes Project Updates Estimated delivery: Sep 2014 Pledge $25 or more 198 backers Limited (1 left of 199) From Our Vaults, Rare Poster of 40 ACRES INSTITUTE Autographed By Me Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $40 or more 189 backers You will receive a T-shirt of "I BACKED The Newest Hottest Spike Lee Joint" Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $75 or more 77 backers You Will Receive An Autographed Limited Edition Poster of Our Film. Plus The Special Screening Online Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $100 or more 184 backers Autographed Crew T-shirt. Plus Autographed DVD And Special Online Screening Opening Weekend Of Our Film Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $100 or more 6 backers Limited (44 left of 50) The rare poster for our Brooklyn Loves Michael Jackson Celebration that was cancelled due to Hurricane Irene in 2011. If you love MJ you should own this. Signed by renown underground artist Fuse and me. Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $250 or more 121 backers Limited (79 left of 200) Two Tickets To The World Premiere Of Our Film in New York City Estimated delivery: Sep 2014
Pledge $750 or more 1 backer All gone! Abraham Lincoln High School Railsplitters Blue Away Jersey WORN in the Classic ball flick HE GOT GAME. Authentic Jersey Worn by: Number 4 - TRAVIS BEST - Size 44. Estimated delivery: Sep 2014 Ships anywhere in the world
Pledge $1,000 or more 30 backers You Will Be An Extra In Our Film Estimated delivery: Sep 2014 Pledge $2,000 or more 14 backers You Will Attend My Special Limited Master Filmmaker Class Which Will be An All-Day Seminar At My 40 Acres And A Mule Filmworks Building In Da Republic Of Brooklyn, New York. This Also Includes a Museum Like Tour. Estimated delivery: Sep 2014
Pledge $3,000 or more 5 backers Join me in a memorable experience. I am inviting you to spend a full work day with me and the editor to observe the editing process. This day includes lunch. Acceptance of this reward, requires you to sign a non-disclosure agreement. Quantity of this reward is limited. Estimated delivery: Sep 2014
Pledge $10,000 29 backers This Award Is For All Playa-Playas. For 10 Grand I'm Taking You to Dinner, Then You Will Have The Honor And Privilege To Sit Next To Me (IN MY WIFE'S TONYA'S SEAT) COURTSIDE - FRONT ROW IN THE BEST SEAT IN THE HOUSE AT THE WORLD'S MOST FAMOUS ARENA - MADISON SQUARE GARDEN TO SEE OUR BELOVED NEW YORK KNICKERBOCKERS, ORANGE AND BLUE SKIES. IF YOU DON'T KNOW THIS IS ONE OF THE TRUE GREAT SPORTING EVENTS TODAY. YOU WILL REMEMBER THIS EXPERIENCE AS LONG AS YOU LIVE. THIS IS A VERY LIMITED ITEM. YOU SLOW - YOU BLOW. THIS IS BIG, BIG TIME. PS. KNICKS WILL BE GREAT THIS COMING NEW SEASON. So There You Have It. The Awards Are Affordable To One And All We Need Everyone To Help This Cause. Many Thanks In Advance. I Can't Do This Without You. This Will Truly Be A Community Generated Spike Lee Joint. YA-DIG? SHO-NUFF Estimated delivery: Sep 2014
Pledge $10,000 0 backers Limited (1 left of 1) This Is A Rare Piece Of American Cinema History. This X American Flag Is From The Opening Credits Of The Epic MALCOLM X. There Are Only 4 That Exist. Denzel Has One, I Have One And You Can Own One Too. We Will Frame This X American Flag So You Will Have A Piece Of ART Hanging On Your Wall. The Pledge Is $10,000. To Me This Is The Best Reward We Have Had So Far. You Slow, You Blow. You Snooze, You Lose. Again Only 4 Exist In This World. Denzel And I Are Not Giving Ours Up. Thank You. Please Give This Serious Consideration. Estimated delivery: Sep 2014 Ships anywhere in the world
The campaign was a suuces! Awards were original and motivational! Movie has been made and first shown on closing night at the American Black Film Festival, where it earned middling reviews. Lee was in talks and had troubles to find the right distributor. After movie premiere it was still open the question where this horror comedy starring Stephen Tyrone Williams, Zaraah Abrahams, Rami Malek, and Elvis Nolasco is going to end up? The movie got ripped really hard by critics this summer at the annual Festival so there was some question whether the film would find distribution at all.
Latest informations are that Gravitas Ventures has acquired North American rights and that it should release the film theatrically and on video on demand on Februar 13, but still no word on when the home video release is coming. Hopefully this movie is going to find his way to the wider audience.
We can compare the NYC Opera’s campaign with the most successful arts campaign to date, The Marina Abramovic Institute. It’s a useful comparison for a few reasons: both campaigns are by well-known arts brands located in New York City, fundraising within a few weeks of each other. Abramovic is a Serbian performance artist who has been active for three decades; The NYC Opera has been operating for 70 years. Of course, Abramovic was asking for $600,000 rather than $1 million. But with the NYC Opera seeming unlikely to raise even a fraction of Abramovic’s total, we need to look beyond the target amount. The average pledge to the campaigns is similar - the mean pledge for the Abramovic campaign was $139 compared with a current mean of $125 for the NY Opera. But that’s where the similarity in pledging activity ends. Rewards for the pledgers of NYC Opera are moustly the tickets for the performances. But the problem with theater tickets is that they are in-person rewards. If a backer isn’t based in New York or willing to travel there, they’re essentially useless. If the backers are outside the NY, NYC Opera is offering only a choice of a tote bag, desktop wallpaper, an mp3 playlist curated by the Opera’s artistic director and a CD or DVD. Marina Abramovic offered: For $25, “Marina will teach the Abramovic Method SLOW MOTION WALK exercise via live stream. Receive exclusive access to this event. You, Marina, and the other backers at this level will then perform your exercise SIMULTANEOUSLY, creating a large public performance that occurs at the same time in different locations all over the world.” For $100, “You will receive a set of never-before-seen video materials.” For $1,000 “Marina will perform the Abramovic Method eye gazing exercise with you via webcam. You may document this experience in any way you’d like and opt to include it in MAI digital archives.”
Leading to conclusion, it is possible to notice that crowdfunding campaigns will take in the future much more important rolle in economonical sence. This might lead to completely new course in development of society. At the moment, it is impossible to say to which extend. It todays world much money would be spend on developing the product, getting reactions from consumers and eventually promoting it as starts to produce. With crowdfunding campaigns, it will develop quitte different. Through crowdfunding campaign be already most of those thing visible. Promotion of projects will be accomplished with reactions of possible backers which will show the nessesity of product its self. Prior to all knowledges collected during the capaign, products will have much lesser procent of risk.
Crowdfunding campaigns have not only opportunity factor, but they can provide much bigger picture of the thing to come in future for investors because they provide strong picture of the current situation on the market. Chances that the investor will get in risky situations are significentaly smaller after the have been filtered trough crowdfunding campaingns. On the other side crowdfunding platforms make inventros much more vissible on the market and they do it for free at the begining. Eventually they charge certain procent of collected money, but that happens only if the campaign had success.
