As more and more people catch the entrepreneurial bug, creatives are increasingly turning to crowdfunding sites like Kickstarter to fund artistic projects, new business ventures and more. Yesterday Kickstarter announced that it passed two milestones: over 50,000 projects successfully funded by over five million backers from around the world. What’s more, Kickstarter reports that over $848 million has been pledged to funded Kickstarter projects to date and says that if pledges continue at their current pace the company will surpass $1 billion in pledges early next year.
Kickstarter Projects Remain Small
Despite being on track to surpass $1 billion in pledges early next year, Kickstarter’s bread and butter continues to be smaller pledges and projects. The most common pledge has been $25 for quite some time, and the majority of successfully funded projects raise under $10,000.
Kickstarter also reports that a handful of larger projects have seen success on its site, too. 861 projects have raised over $100,000 and 50 projects have raised over $1 million. These projects range from entertainment items like games, albums and films to projects as daring as space exploration.
Over 5 Million Backers
To date, over 5 million people have backed projects on Kickstarter, representing over 90% of the countries on Earth. As a sign of the popularity of backing Kickstarter projects, 29% of these people have become repeat backers, supporting two projects or more. In fact, over 41,000 people have backed 25 projects or more, over 2,400 people have backed 100 projects or more, and an impressive eight people have backed over 1,000 projects (full disclosure: two of those eight people are Kickstarter employees).
Repeat backers are a huge source of funding on Kickstarter. Their pledges make up more than 60% of all money pledged on on the site, totaling $512 million to date!
On its blog Kickstarter reported the follow stats:
Total Money Pledged: $848,707,743.37
Total Pledges: 11,379,607
Successfully Funded Projects: 50,755
Funding Success Rate: 43.84%
Most Common Pledge: $25
Amount Raised by Majority of Funded Projects: < $10,000 Number of Projects Raising over $100,000: 861
Number of Projects Raising over $1 Million: 50
Total Backers: 5,041,067
Repeat Backers: 1,473,393
Number of People Backing 25 Projects or More: 41,000
Number of People Backing 100 Projects or More: 2,400
Number of People Backing over 1,000 Projects: 8
Kickstarter is thrilled by the generosity and momentum of its community and the site’s ability to fund people’s dreams. Michael McGregor and Fred Benenson of Kickstarter wrote:
The generosity and support that these five million backers have shown to creators is incredible. A backer’s contribution to a project is much more than financial. They’re literally helping people fulfill their dreams and bring new works into the world. What could be better than that?”
Have you ever funded a project on Kickstarter?