Five million backers have successfully funded more than 50,000 projects on Kickstarter, the company has announced, cementing their place as the world’s top crowdfunding platform. Projects on Kickstarter have a 43.8% success rate and $720 million has been passed on to fully funded campaigns. Music projects, however, did not always raise impressive sums.
Just over 45% of the 24,500+ music projects on Kickstarter have been successfully funded. Almost 11,000 of the music projects, however, raised under $10,000 ($1000 - $10,000); and only 27 have raised $100,000 or more. 565 projects raised between $20,000 and $100,000; and another 1555 raised only $10,000 to $20,000.
For all of the hoopla, music projects on Kickstarter are successful for a select few; but not the masses of musicians that the press often implies.