Some very useful insights into the success of crowd-funded Kickstarter programmes in the US and UK that was bought to our attention by Rodolfo Rossini at Storybricks. So much of the talk about crowdfunding is absurd hyperbole that it is useful to get some actual data that you can use to make intelligent decisions about whether crowdfunding is an appropriate vehicle for your financing activities.
Aside from the very obvious:
- The US is bigger than the UK
There are some much more useful observations:
- Very interesting insights around how effectively projects in the UK and US manage their campaigns – US campaigns tend to be more successful as they manage the channels to market more effectively.
- Over 75% of ‘Dance’ related Kickstarters are funded while less than half technology related ones are. The average project in the respective categories is $5k and c$100k.
- UK campaigns have to run in GBP and Kickstarter users tend to be less comfortable with currencies other than $.
- Raising large amounts of money on Kickstarter is exceptionally rare in either the US or UK.
As more and more companies talk about crowdfunding as the potential answer to their funding problems and others point to crowdfunding as the first step towards the death of the venture capital industry (yes, really), it is good to get some actual data to help people make up their minds in a more measured manner.