The Dangers of Crowdfunding Art

Posted filed underBusiness, Funding.

Crowdfunding Art
Hyperallergic went to the panel “Mercy of the Crowd(Funding)”, hosted at the Grey Area Foundation For the Arts in San Francisco’s Tenderloin: “Over the course of the panel, the usual topics were discussed. Kickstarter, which has helped to successfully fund over 75,000 creative projects and awarded $337 million in total funding with a 43.8% success rate (as cited here), was unfortunately the major theme of the night. A Kickstarter project’s success is determined so often simply by who a project founder’s friends are, and how much money they can bug them for. “No matter who you are, whether institution or artist, your most captivated audience are your friends and followers already,” Spokes said. For USA Projects, at least, “only 5% of your campaign will come from sources you didn’t know about.”

The panel skirted around the discomfort of hounding friends for money, many of whom are probably as broke as the originating artist. Most artists are probably already familiar with the discomfort of have 10-plus friends asking you for money while you yourself are looking for something resembling steady work. Jason Eppink did a fantastic parody of this whole process with a mock-Kickstarter project, “Help Me Fund My Friends’ Kickstarter Campaigns!” ”

Read the whole report at Hyperallergic.

Crowdfunding Art – Help Me Fund My Friends’ Kickstarter Campaigns!

A new site mentioned in the report is, “an art subscription service featuring Bay Area artists. Operating on the model of a CSA (Community Supported Agriculture) or wine subscription service, Art in a Box offers amazing original works of art instead of vegetables or wine.”

Crowdfunding Art – The Great Trans-American Art Campaign