An innovative way to support cultural institutions is through reward-based crowdfunding, an online funding mechanism for a specific project, which offers donors a reward for their donation. We explored employees’ perceptions of crowdfunding and focused on the question: “How do employees of cultural institutions running a crowdfunding campaign perceive the use of crowdfunding to collect…

The art of crowdfunding arts and innovation: the cultural economic perspective (Presented by Christian Handke and Carolina Dalla Chiesa ). The Cultural Economics Online Seminar (CEOS) was initiated in 2021 as a means to provide a forum to bring members of the ACEI community together during the COVID-19 pandemic. CEOS aims to provide a forum…

Despite its ubiquity in arts and culture, crowdfunding has limitedly been instrumentalized in policy settings. Yet, with joint contributions by friends, fans, governments, and quasi-public institutions, match-funding of arts and culture through crowdfunding platforms may have benefits: increased revenues for makers and cultural fields, transparency in funding allocation, and stronger community engagement. Drawing upon interviews…

Which novelties do donation- and reward-based crowdfunding bring to philanthropy? Scholars interested in crowdfunding contributed to developing empirical explanations on which features impact online giving. However, the focus on theory building is limited. We developed a theoretical framework by categorizing the empirical findings reported in 198 studies, which resulted in four crowdfunding features impacting giving:…

This research aims to find out which values are realized in the relationship between donor and cultural organisation and to contribute to the knowledge on patronage relationships, and to value based cultural economics. The value based economics framework by Klamer will be used to research the following research question: what are the values that are…

This paper analyses the factors that make fashion-product crowdfunding campaigns successful. The authors argue that crowdfunding is an innovative and functional way of bringing new fashion items to the market. The purpose of this paper is to answer the question whether product innovation, lifecycle and sustainability have a positive effect on the success of fashion…

Crowdfunding is an innovation from the cultural sector that has found broad applications in other aspects of the economy. We document that cultural economics provides a refined structure to explain much of the crowdfunding phenomenon, which will be useful for any research on this topic. Based on central themes of cultural economics (including quality and…

Crowdfunding is een financieringswijze waarbij een grote groep wordt gevraagd om (relatief) kleine donaties te doen, om zo gezamenlijk een bepaald streefbedrag te halen. In dit onderzoek wordt gekeken naar de ervaringen van documentaire filmmakers tijdens hun project, en welke vaardigheden zij aangeven hierbij nodig te hebben gehad. Deze vaardigheden worden onderzocht aan de hand van…

Crowdfunding is known as a funding solution for creative projects. Creators and business ventures consider crowdfunding as an outlet for promoting creative projects and raising funds. The literature and the media coverage overemphasized its benefits without taking into account key limitations for specific sectors. Based on exploratory, qualitative data gathering, this article investigates what artists…

Crowdfunding is a novel fundraising model widely used by the cultural and creative sectors. Most literature focuses on quantitive success-factors and analyses. The richness of this phenomenon deserves other complementary approaches to uncover theoretical and empirical concerns. What do the fundraisers expect from crowdfunding? To which extent do these projects outreach communities and markets? How…