Kickstarter is the world's largest funding platform for creative projects.
75% Of Kickstarter Projects Don’t Meet Deadlines
Jeanne Pi of AppsBlogger got into a little bit of hot water over an article that claimed that 40% of all Kickstarter projects fail. Turns out that her whole analysis of the data was wrong so in an effort to put things right she’s teamed up with Professor Ethan Mollick of the University of Pennsylvania ( he was the one who put her in the hot water).
The collaboration has produced new findings of sort, the main one of which is the fact that 75% of Kickstarter projects don’t meet deadlines. It turns out too that the level of funding can impact a project’s chances of success. The average failed project received on average around $900 in pledges, while the average successful project received a whopping $7,825 in pledges.
On the face of it you’d think that it’s the money that delivers success but that is only part of the story. 1 out of 4 successful projects raise only 3% or less of their funding goal and the project area also plays a crucial role in success. The biggest areas on Kickstarter or hardware, software, gaming and product design. Most other categories have fewer success stories and hence don’t get the level of funding that the big four receive.
The new data gave much more insight into Kickstarter and its trailblazing way of funding ideas.