Crowd funding is around for many years. People are using the support of the community to start business, to develop prototypes, to support an organization, to create video games, writers to write books, film makers to build a budget for the new film and musicians for build budget for their upcoming album and/or tour.
With a small search in the crowdfunding platforms, we see the very successful projects, the ongoing projects, and non successful projects. Many artists choose these platforms in order to raise money for their projects under their own terms. Also this is a great chance to grown promote your new upcoming release to your existing followers.
According to Ian Anderson in his article, Who is REALLY going to contribute to your music crowd funding campaign, published on DIY Musician portal on CDbaby.com, he explains not how the 2% of the super successful $200.000 campaigns made it to the top, but how the rest 98% look like tin the pool. He explained that the average successful Kickstarter campaign raised just over $10,500 from about 116 backers and over 85% of Kickstarter campaigns raise less than $20,000 from less than 200 backers.
To learn more about Ian’s research follow the link to the article