Prompt Cast
The ins and outs of Kickstarter: how it works and what makes a project successful
TLDR Kickstarter is a crowdfunding platform that allows independent artists and creatives to get funding for their projects. Projects must meet specific criteria and have a good story and video pitch to be successful, and controversies have arisen around certain projects.
Timestamped Summary
00:00
Kickstarter is a crowdfunding platform that allows independent artists and creatives to get funding for their projects.
04:10
Kickstarter was founded in 2009 as a crowdfunding platform exclusively for creative projects with specific goals and timelines.
08:21
Kickstarter operates on an "all or nothing" model, meaning that if a project does not reach its funding goal, it does not receive any funding, which sets it apart from other crowdfunding platforms.
12:47
Kickstarter has specific criteria for what qualifies as a creative project, and the staff reviews proposals to ensure they meet those standards.
16:59
Kickstarter has had some very successful projects, such as the Coolest Cooler, which raised over $13 million, and the majority of successfully funded projects are in the music, film, and video categories.
21:44
Kickstarter projects should have a good story and a video pitch, and if they are successful, they can spread through word of mouth and social media.
25:29
The most popular pledge amount on Kickstarter is $25, followed by $50, and it is recommended to set personalized and creative rewards levels for backers.
30:01
Controversies have arisen on Kickstarter, such as the controversy surrounding the Veronica Mars movie and the way they offered downloads, as well as the criticism towards Zach Braff for using Kickstarter to fund his film despite already having financing lined up.
33:51
Computer scientists at Cambridge University have developed an algorithm to help direct Kickstarter projects to the right audience based on factors such as good management, high fundraising goals, universal appeal, and fast growth, but ultimately the success of a project still depends on its quality.
37:59
The hosts read a follow-up message from a listener about the origins of the phrase "will or won't play in Peoria" and discuss their other podcast, "Stuff You Missed in History Class."
Categories:
Society & Culture
