Kickstarter focuses on funding creative projects and operates a reward-based system so that campaign backers always get something in return for their contributions
12% of campaigns on Kickstarter fail to raise any funds. Source: flickr.com
LearnBonds reveals that as of December 2019 the ratio of fully funded projects on Kickstarter is 37.4%.
17.3 million backers worldwide have invested nearly £3.7 billion in projects, as of 20 January 2020, and since its launch in 2009, the crowdfunding platform has amassed a total of 58.7 million pledges.
Data shows that up to 12% of all campaigns began to raise no funds at all. Since the launch of a campaign is free, campaigners will often start a new fund with a lower target, better marketing, and a new plan.
With just 37.4% hitting their targets, 62.6% run unsuccessful campaigns.
Whereas over 12% of projects never receive a single pledge within their given deadline, 78% of them raise more than 20% of their target. There are 294,014 campaigns that didn’t receive a single pledge with more than 15% of these being in the film & video category.
The gaming sector tends to have the highest success rates with the biggest amount of campaigns reaching over $1 million. It’s followed by design with 110 campaigns raising just short of $1.1 billion. The technology sector is in third place with 121 campaigns raising a total of $897.2 million.
As to the least popular sectors, those are film & video, music (pictured) and publishing. The journalism and dance category have very little funding backers as well.
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