Kickstarter

Definition

Kickstarter is a crowdfunding platform that enables creators to fund their projects by gathering financial contributions from a large number of people, typically via the internet. This model not only helps raise money for creative projects like films, games, and inventions but also encourages co-creation and user-generated content as backers often contribute ideas, feedback, and support throughout the project’s development. The platform fosters community engagement and collaboration between creators and supporters.

5 Must Know Facts For Your Next Test

1. Kickstarter was launched in 2009 and has helped fund over 200,000 projects, raising billions of dollars from backers around the world.
2. The platform operates on an all-or-nothing funding model, meaning that projects only receive the pledged funds if they meet their funding goal by a set deadline.
3. Kickstarter campaigns often include tiered rewards for backers, incentivizing them to pledge at higher levels for additional perks.
4. The community aspect of Kickstarter allows creators to engage directly with their supporters, fostering a sense of ownership and involvement in the project.
5. Successful Kickstarter projects often lead to long-term fan bases and communities that continue to support the creator's future endeavors.

Review Questions

• How does Kickstarter facilitate co-creation and engagement between creators and backers?
  • Kickstarter allows creators to involve backers in the development process by encouraging feedback and ideas throughout the campaign. This interaction fosters a collaborative environment where backers feel a sense of ownership in the project, often leading to enhanced creativity and innovation. By promoting open communication, Kickstarter creates a space where both creators and supporters contribute to shaping the final outcome of projects.
• What are some key features of the Kickstarter platform that differentiate it from traditional funding sources?
  • Kickstarter's all-or-nothing funding model sets it apart from traditional funding sources, as it incentivizes creators to fully engage their audience in order to meet funding goals. Additionally, the tiered rewards system allows backers to choose their level of support while receiving unique perks. This democratization of funding provides opportunities for diverse projects that might not have access to conventional financing routes, showcasing creativity and innovation.
• Evaluate the impact of Kickstarter on the landscape of creative industries and how it has influenced trends in co-creation and user-generated content.
  • Kickstarter has significantly transformed the creative industries by democratizing access to funding, allowing independent creators to bring their ideas to life without traditional gatekeepers like studios or publishers. This shift has encouraged more diverse voices in arts and innovation, leading to trends in co-creation where supporters actively participate in shaping projects. The rise of user-generated content is also linked to this model; backers not only fund projects but often provide valuable insights that influence creative decisions, making the entire process more collaborative.

Related terms

Crowdfunding: A method of raising funds for a project or venture by collecting small amounts of money from a large number of people, often via online platforms.

Backer: An individual or entity that supports a project on Kickstarter by pledging money in exchange for rewards or early access to the final product.

Rewards-based Funding: A type of crowdfunding where backers receive non-financial rewards, such as products or exclusive experiences, in return for their financial support.