crowdsourcing | storytelling | citizenship
Peopleâ€&#x;s Insights: Volume 1, Issue 28
Kickstarter
What is Kickstarter? Kickstarter is a crowdfunding platform, empowering artists and engineers to raise funds from individuals. Since 2009, Kickstarter has helped raise more than $250 million for more than 24,000 projects.
kickstarter.com/start
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[Kickstarter is] a place where artists and engineers can connect with the people in direct peer-to-peer relationships who aren‟t just buying entertainment, they‟re helping make dreams a reality. - Mike Bulajewski, User Experience Designer, Mr Tea Cup
Getting funded Kickstarter recommends that projects be realistic and well-defined in terms of scope, budget, funding goal and funding deadlines. Projects that offer rewards to backers have greater chance of success.
kickstarter.com/projects/420606009/fight-for-space-space-program-and-nasa-documentary
Strictly for creative projects Kickstarter does not allow funding for causes, charities or „fund-my-lifeâ€&#x; projects. Projects must fall under specific categories, including film, music and design, and have a tangible result (example: music album).
1) kickstarter.com/start 2) nytimes.com/2012/03/17/arts/kickstarter-and-artspire-as-models-of-arts-financing.html 3) boingboing.net/2012/03/15/using-kickstarter-to-make-fine.html
„All or nothing‟ funding A project must meet its funding goal by a set deadline in order to receive any funds. Kickstarter believes this “protects everyone involved,” as projects with insufficient budgets are less likely to succeed.
kickstarter.com/discover/ending-soon
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Once you add constraints, that‟s what happens. We want that to happen. „Kickstarter project‟ has some specificity to it, just like a tweet. – Peter Chen, Co-Founder, Kickstarter, NYTimes.com
Notable projects funded on Kickstarter Two Academy-Award-nominated documentaries, art projects exhibited in the Museum of Modern Arts, an iPod Nano watch, and 10% of films submitted to Sundance got their start on Kickstarter.
LunaTik
1) mediadecoder.blogs.nytimes.com/2012/01/30/at-sundance-kickstarter-resembled-a-moviestudio-but-without-the-egos/ 2) core77.com/blog/business/scott_wilson_on_tiktoklunatiks_huge_kickstart_18032.asp
What drives project starters and backers? Broadly, project starters come to Kickstarter to give life to their creative ideas, and backers come to support friends, give back to the community, or commission creation of cool products theyâ€&#x;d like to own.
facebook.com/Kickstarter
Beyond funding - community Kickstarter sees the platform as more than just a way to raise money. It also connects starters with their audience and helps promote their work. Most successful starters feel the same way.
- Scott Wilson, Designer, LunaTik, Core77.com
Kickstarter.com/start
Revenue model Kickstarter takes a 5% cut of the money raised, and Amazon Payments, the payment platform, takes an additional 3%-5%. While some say this is too high, most argue that the value provided justifies the cut.
articles.businessinsider.com/2011-04-28/tech/30065679_1_kickstarter-funding-projects
Exponential rise in dollars pledged While most successful Kickstarter projects receive less than $10,000, a few crossed the six- and seven-digit mark in 2012. In March 2012, Double Fine Adventure raised $1 million in under 24 hours.
en.wikipedia.org/wiki/Kickstarter#Top_projects_by_funds_raised
Post funding – the work has just begun Some people criticise the lack of accountability of projects once they are funded, while others point out that artists now have to prove their business mettle and deliver the product, and rewards, to their backers.
1) businessinsider.com/pebble-kickstarter-crowdfunding-delay-2012-7 2) twitter.com/neilhimself/status/204999882983997441
Legal and tax implications? As the amounts raised cross six digits, and Kickstarter plans its UK launch, industry watchers are pointing out the need for laws to safeguard backers, and to clarify the tax status of the funding.
1) forbes.com/sites/suwcharmananderson/2012/05/23/kickstarters-sting-in-the-tail-tax/ 2) mashable.com/2012/04/05/jobs-act-crowdfunding-startup/
Crowdfunding beyond Kickstarter Platforms like IndieGoGo cater to more diverse projects including „fund-my-health,‟ and are less restrictive regarding „all or nothing funding‟. Overseas, zeczec.com caters to Taiwanese crowds.
1) Comment from the Insights Network, MSLGroup Community 2) IndieGoGo.com 3) Taiwan crowdfunding platform www.zeczec.com
More People’s Insights Weekly reports Every week, we dive into one topic for discussion on the MSLGROUP Insight’s Network and discuss insights and foresights, in three key areas: crowdsourcing, storytelling and citizenship.
Crowdsourcing
Storytelling:
Citizenship
Mahindra Spark the Rise
@MarsCuriosity
#Kony2012
For more reports, visit: peopleslab.mslgroup.com/peoplesinsights/
Read People’s Lab insights and foresights The People’s Lab team shares the insights and foresights from the MSLGROUP Insights Network on the People’s Insights weekly blog and the People’s Insights Quarterly magazine.
MSLGROUP Insights Network
People’s Insights weekly blog
People’s Insights Quarterly magazine
50+ MSLGROUP planners share and discuss inspiring projects on corporate citizenship, crowdsourcing and storytelling.
We deep dive into conversations around one project -- on the MSLGROUP Insights Network itself but also on the broader social web -- to distill insights and foresights.
Every quarter, we will compile the best insights from the network and the blog in the iPad-friendly magazine, as a showcase of our capabilities.
For more, visit http://peopleslab.mslgroup.com
Coming soon: Peopleâ€&#x;s Insights Annual Report In early January 2013 we will publish the Peopleâ€&#x;s Insights Annual Report, in which we synthesize our insights from throughout 2012 and provide foresights for business leaders and change-makers for 2013.
People’s Lab: Crowdsourcing Insights & Innovation People’s Lab is MSLGROUP’s proprietary crowdsourcing platform and approach that helps organizations tap into people’s insight for innovation, storytelling and change.
For more, visit http://peopleslab.mslgroup.com
For People’s Lab solutions, contact pascal.beucler@mslgroup.com