Kickstarter focuses on funding creative projects and operates a reward-based system so that campaign backers always get something in return for their contributions
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.