- A-Z
- Jena Economic Resea...
- Volume 13
- Crowdfunding a mont...
- Autor(in)
- Erschienen
- 22. Dezember 2019
- Nummer des Discussion-Papers
-
2019-010
- Schlagwort(e)
-
crowdfunding
cultural goods
funding dynamics
membership platform
Patreon
- Zusammenfsg.
-
Membership platforms allow creators to crowdfund a monthly income, while campaigns on conventional reward crowdfunding portals aim to reach a specified funding target within a pre-set period. We study transaction-level data from Patreon, the biggest membership platform, to gain insights about behavioral patterns at this emerging type of crowdfunding. Our analysis shows that hundreds of creators crowdfund a sizable income (more than $2,500 monthly). We also find that measures of communication quality are determinants of project success, in line with the related literature. Funding dynamics – pledges as well as deletions – are heterogeneous across campaigns. Our analysis suggests that the option to delete the monthly pledge to a creator at any time serves as a feedback mechanism. We conclude that crowdfunding a monthly income offers the creative class a viable alternative to advertising-based business models.
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- JEL-Classification for JER
- D90 - General ; G23 - Pension Funds; Other Private Financial Institutions ; L26 - Entrepreneurship ; L82 - Entertainment; Media ; L86 - Information and Internet Services; Computer Software