Charts created for the company’s 2nd Birthday, shows the amount of dollars pledged to each category, percentage of successful projects and more.
To celebrate their 2nd Birthday, Kickstarter posted numbers and charts on their blog demonstrating the success of their projects and campaigns. The top chart shows the number of dollars pledged to each category. Film is way out in front with nearly $20 million in pledges and Music takes second place with just over $13 million. 10 of the 13 categories have received over $1 million each in pledges.
The fact that Film is leading the categories on Kickstarter is promising for the future of independent film funding. In January, the Sundance Film Institute announced a partnership with Kickstarter that will offer its community of indie filmmakers guidance and support in funding and promoting their work by highlighting selected film projects on the crowd-funding site.
Some additional data about successfully funded projects:
Launched Projects: 20,371
Successful Projects: 7,496 (43%)
Unsuccessful Projects: 9,700
Live Projects: 3,175
Approximately 43% of Kickstarter projects are successfully funded. The project success rate has held steady between 40-45%. There’s no clear benchmark to judge whether this number is “good” or “bad,” but in the concept stages of Kickstarter we had projected a 5% success rate. We think this is a great sign.
Another thing to note is the difference between the 43% success rate and the 85% pledge collection rate. This means that the overwhelming majority of pledges go to successful projects. Of the projects that do not meet their goal, 21% never receive a single pledge.
What is the tipping point for a project’s funding? With just a single pledge, a project’s chances of success jump to 52%. But at what level of funding is a project overwhelmingly likely to succeed?