Home Business NewsBusinessBusiness Growth News Kickstarter hit $5.4bn in total funding with $875m worth of projects in the last year

Kickstarter hit $5.4bn in total funding with $875m worth of projects in the last year

by LLB Finance Reporter
16th Dec 20 1:31 pm

As one of the largest crowdfunding platforms globally, with more than half of million launched projects, Kickstarter received pledges worth billions of dollars over the last eleven years.

According to data presented by StockApps.com, the New York-based crowdfunding platform hit $5.4bn in total funding as of November, with $875m worth of projects in the last year.

Total Funding Amount Tripled in Five Years

Unlike other crowdfunding companies, Kickstarter focuses mainly on creative projects, from craft ideas and music albums to technological innovations.

Every project creator sets their funding goal and deadline, and if people like the project, they can pledge money.

If the project succeeds in reaching its funding goal, all backers’ credit cards are charged when the deadline expires. On the other hand, if it fails to reach its funding goal, the project is dropped, and the pledges are returned to the backers. The company makes profits by charging a 5% fee to the collected funds of successful projects.

In July 2012, the cumulative value of money pledged to project funding on Kickstarter amounted to $276 million, revealed the company’s data. In March 2014, this figure hit the one-billion benchmark and continued rising. Statistics show that 2015 witnessed almost $695 million of pledges, and by January next year, the cumulative value of funding hit over $2.1bn.

In 2017 and 2018, the annual value of money pledged to project funding on Kickstarter amounted to around $650 million. The cumulative value of funding rose to over $4bn in January 2019, a 90% jump in three years. Since then, it increased by almost $1.4bn.

Statistics show the total amount of funding pledged to Kickstarter projects tripled in the last five years, rising from $1.8bn in July 2015 to $5.4bn in November.

Game Projects Hit $1.4B in Total Funding

The largest number of successful Kickstarter campaigns has raised between 1,000 and 99,000 dollars. However, 385 campaigns have managed to raise $1 million each.

Statistics show games represent the most-funded category with $1.44bn pledged by project backers. Design ranked second with $1.24bn in total funding. Technology, film and video, and music follow $1bn, $479.2 million, and $254.9 million, respectively. Dance ranked as the least funded category with $14.99 million pledged.

However, statistics show that the music category leads by the total number of successful projects. As of November, 31,660 projects in the music category had managed to raise their pledged amount of funding. Film and video, games, and art follow, with 28,438, 23,363, and 18,585 successfully funded projects, respectively.

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