- A-Z
- Jena Economics Rese...
- Volume 13
- Crowdfunding a mont...
- Author
- published
- Sun Dec 22 2019
- Number of discussion paper
-
2019-010
- keyword(s)
-
crowdfunding
cultural goods
funding dynamics
membership platform
Patreon
- abstract
-
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
- URN
- urn:nbn:de:urmel-247af9da-a9ad-4bc2-8d70-c90787ad9e109-00278990-12