Kickstarter

Definition

Kickstarter is a crowdfunding platform that allows artists and creators to present their projects to the public in hopes of securing financial backing from supporters. This platform has transformed how creative projects are funded, connecting artists directly with potential patrons and enabling them to raise capital without relying solely on traditional funding methods.

5 Must Know Facts For Your Next Test

1. Kickstarter was launched in 2009 and has since facilitated millions of projects across various creative fields, including art, music, film, and technology.
2. Projects on Kickstarter must meet a funding goal within a set timeframe, and if they do not reach this goal, no funds are collected from backers.
3. The platform operates on an all-or-nothing model, which motivates creators to promote their projects actively to secure enough pledges.
4. Kickstarter has allowed many independent artists to gain visibility and support for their work, democratizing access to funding in the creative industries.
5. Rewards for backers can vary significantly from small tokens of appreciation to exclusive experiences or products related to the project, incentivizing contributions at different levels.

Review Questions

• How does Kickstarter facilitate a direct connection between artists and supporters, and what impact does this have on the funding landscape for creative projects?
  • Kickstarter creates a direct link between artists and supporters by allowing creators to present their projects online, where potential backers can easily discover and engage with them. This model shifts the funding landscape by giving artists more control over their financial backing and fostering community engagement. As a result, many independent creators can access funds that might have been difficult to obtain through traditional channels like grants or loans.
• Discuss the significance of the all-or-nothing funding model on Kickstarter and its implications for project creators.
  • The all-or-nothing funding model on Kickstarter means that projects must reach their specified funding goals within a designated timeframe to receive any financial support. This structure encourages project creators to actively promote their initiatives and build a sense of urgency among potential backers. While it reduces risk for backers, it places pressure on creators to ensure they meet their goals, which can be both motivating and stressful as they navigate their campaign.
• Evaluate the broader implications of crowdfunding platforms like Kickstarter on the art world and how they may shape future trends in artistic production and patronage.
  • Crowdfunding platforms like Kickstarter are reshaping the art world by altering traditional models of artistic production and patronage. By providing direct access to funding, these platforms empower artists to pursue innovative projects without reliance on galleries or traditional investors. This shift not only allows for greater diversity in artistic expression but also fosters a more engaged audience that feels personally invested in the outcomes of funded projects. As crowdfunding becomes more mainstream, we may see continued changes in how art is produced, distributed, and experienced.

Related terms

Crowdfunding: A method of raising money from a large number of people, typically via the internet, where individuals contribute small amounts to support a project or venture.

Backer: An individual who financially supports a project on Kickstarter, usually in exchange for rewards or incentives based on their contribution level.

Stretch Goals: Additional funding targets set by project creators that unlock extra rewards or enhancements for backers if the project exceeds its initial funding goal.