Kickstarter

Definition

Kickstarter is a crowdfunding platform that allows creators to raise funds for their projects by obtaining financial support from a large number of people, typically via small contributions. This platform enables individuals and groups to bring their creative ideas to life by connecting them directly with potential backers who share an interest in their projects, which often include art, music, technology, and various creative endeavors.

5 Must Know Facts For Your Next Test

1. Kickstarter was launched in 2009 and has since become one of the most popular crowdfunding platforms globally, helping to fund hundreds of thousands of creative projects.
2. Projects on Kickstarter must meet specific guidelines and set a funding goal; if the goal is not met within the designated time frame, no funds are collected from backers.
3. Kickstarter has a unique all-or-nothing funding model, meaning that creators only receive funds if their project meets or exceeds its funding goal.
4. The platform has funded a wide range of projects across various categories, including film, music, games, technology, and food.
5. Successful Kickstarter campaigns often leverage social media and community engagement to build momentum and attract backers to achieve their funding goals.

Review Questions

• How does Kickstarter facilitate user-generated content and encourage participatory culture?
  • Kickstarter facilitates user-generated content by empowering creators to present their ideas directly to potential supporters who can choose to financially back those projects. This process encourages participatory culture as it allows individuals to actively engage in the funding and development of creative works they find interesting. By fostering a community where creators can connect with backers, Kickstarter creates an ecosystem where users can influence what content gets made based on their interests and support.
• What challenges do creators face when using Kickstarter as a platform for funding their projects?
  • Creators on Kickstarter often face several challenges, including setting realistic funding goals, crafting compelling project descriptions, and effectively marketing their campaigns to reach potential backers. The all-or-nothing model means that if they do not meet their funding target, they receive nothing, which adds pressure to ensure their project resonates with audiences. Additionally, creators must also manage their expectations regarding production timelines and fulfilling rewards for backers once funding is secured.
• Evaluate the impact of Kickstarter on traditional funding models for creative projects and its role in shaping new trends in the creative industry.
  • Kickstarter has significantly disrupted traditional funding models by providing an alternative route for creators to secure financial backing without relying on conventional investors or institutions. This shift has led to greater democratization in the creative industry, allowing diverse voices and innovative ideas that may have been overlooked by traditional channels to gain visibility and support. As a result, Kickstarter has not only influenced how projects are funded but has also shaped new trends in marketing and community engagement within the creative sector, encouraging more direct interaction between creators and audiences.

Related terms

Crowdfunding: A method of raising money for a project or venture by soliciting contributions from a large number of people, usually via the internet.

Backer: An individual or organization that supports a project on Kickstarter by contributing money, often in exchange for rewards or incentives.

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