2014 Was a Very Good Year for Crowdfunding

Got a project to fund? If year-end data from Kickstarter is any indication, crowdfunding remains a solid—although not always surefire—way of ensuring you meet those funding goals.

According to Kickstarter, 773,824 individuals poured nearly $500 million (that’s roughly $1,000 per minute) into 22,252 successfully-funded projects on the Website. Music dominated the categories, with 4,009 projects funded; running a close second was film & video, with 3,846 projects funded; journalism came in fourth with 2,064 projects funded, and games just behind at 1,980 projects funded. Some 1,124 funded projects focused on technology, while 1,393 dealt in some fashion with food.

Some 773,824 individuals backed more than one project; 71,478 backed more than 10 projects; 1,125 people backed more than 100 projects. Wednesday was the most popular day for pledges, and early afternoon generally the best time.

Among the projects themselves, the “Reading Rainbow” revival drew 105,857 backers, ahead of the Coolest Cooler (62,642 backers) and the video game “Kingdom Come: Deliverance” (35,384 backers).

Of course, successfully crowdfunding a project is no guarantee that said project will actually come to fruition—just ask sci-fi author Neal Stephenson, who had to place his much-publicized CLANG project on hold due to technological difficulties, despite ample funding from the community. But the inevitable risks aside, Kickstarter and its ilk have proven a successful venue for many groups—from game designers to music aficionados to female entrepreneurs—to kick off their dreams.

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Image: Kickstarter

3 Responses to “2014 Was a Very Good Year for Crowdfunding”

  1. Wow! 2.8% of projects (22K / 773K) were funded and that’s considered a successful year? Yikes.
    I’ve heard that crowdfunding is on the decline because people are realizing that many projects are run by people who have no idea how to complete them, which leads to the inevitable failure to return the expected results, leading to disappointment by investors who fail to invest in the next great thing because the investors start to realize that they have no clue how to determine how to invest in something worthwhile (like most stock-brokers!)

    Anyway, if you decide to try to get a project funded, understand that statistically you have less than a 3% chance of getting found/funded; and if you’re an investor, understand that finding a worthwhile project requires a lot of research to improve your odds of finding a project that will be a success.
    Good luck!

    • You might think so but as I understand, Shark Tank is experiencing the same problem as Crowdfunding, which is over-saturation. At this point, too many people are trying to get in so the chance of even getting “into the game” is limited (same with the Apple store and things like that, flooded with entries.)