In 2012, over 18,000 unique projects were successfully funded on Kickstarter. The total amount pledge to these projects, $320 million, was 200 percent greater than that of what was pledged in 2011. Campaigns on the site encompass a broad range of categories–from dance to games to publishing. Overall, projects had a 44% success rate, but this ranged significantly by category. For example, fashion and clothing had a success rate of 26% while dance had a success rate of 74%.
The statistics on Kickstarter’s successes and failures will help project leaders know what to expect when it comes to crowdfunding. Categories that are able to raise significant amounts of money, such as games, have strong networks of passionate fans. Campaigns that are able to connect to their crowd–friends and family–through a compelling story or strong idea and product have a higher chance of achieving their goals. Categories such as dance and theatre, tend to have lower fundraising goals, which contributes to their high success rates.
While these statistics are based on Kickstarter projects, they apply to all of the crowdfunding industry. When creating a campaign, project leaders must be realistic with their goal and work arduously to engage their friends and family.