Kickstarter Success Varies By Type of Business

Kickstarter Success by type of business

Did you know that your chance of success on Kickstarter, as well as the amount you can expect to raise, varies a lot by what type of business you have?

We analyzed Kickstarter’s own published data on every successful (and unsuccessful) crowdfunding campaign they’ve ever had. On average:

  • Only 36% of Kickstarter campaigns are successful in meeting or exceeding their fundraising goals (140,202 out of 393,624 campaigns)
  • The average successful Kickstarter campaign raised $22,235.

You Aren’t an Average Kickstarter Success

The problem with looking at averages is that it doesn’t help you figure out what your type of business might be able to do on Kickstarter. Because it turns out those figures are dramatically different!

  • A Technology campaign has only a 20% chance of success, but on average raises $93,481 if it’s successful (6,659 successful campaigns so far when we looked at the data)
  • A Dance campaign has a 62% chance of success, but on average raises only $5,206 (2,304 successes to date when we did our analysis).

Please note that these exact figures will change over time, but as you can see the results vary tremendously.

We summarized the data in our blog image above, but here are the gory details for each type of business that Kickstarter accepts, from March 2018.

Low Kickstarter Success Rate Businesses

Crafts

  • 24% success rate
  • $  5,674 average raise
  • 2,166 successful campaigns

Journalism

  • 22% success rate
  • $10,621 average raise
  • 1,047 successful campaigns

Food

  • 25% success rate
  • $17,430 average raise
  • 6,233 successful campaigns

Fashion

  • 25% success rate
  • $20,462 average raise
  • 5,840 successful campaigns

Technology

  • 20% success rate
  • $93,431 average raise
  • 6,659 successful campaigns

Average Kickstarter Success Rate Businesses

Publishing

  • 31% success rate
  • $9,359 average raise
  • 12,598 successful campaigns

Photography

  • 31% success rate
  • $10,059 average raise
  • 3,367 successful campaigns

Film & Video

  • 37% success rate
  • $13,858 average raise
  • 24,405 successful campaigns

Games

  • 36% success rate
  • $54,071 average raise
  • 13,036 successful campaigns

Design

  • 35% success rate
  • $61,781 average raise
  • 10,881 successful campaigns

High Kickstarter Success Rate Businesses

Dance

  • 62% success rate
  • $ 5,206 average raise
  • 2,374 successful campaigns

Theater

  • 60% success rate
  • $ 5,552 average raise
  • 6,563 successful campaigns

Art

  • 41% success rate
  • $ 6,885 average raise
  • 11,865 successful campaigns

Music

  • 49% success rate
  • $ 7,076 average raise
  • 27,112 successful campaigns

Comics

  • 55% success rate
  • $11,338 average raise
  • 6,056 successful campaigns

Kickstarter Success Rates In Perspective

Pretty much all business fundraising takes effort, and has less than a 100% chance of success.

  • Angel investors fund well below 5% of the business plans coming across their desks, and venture capitalists fund much less than 1%.
  • Federal government SBIR grants average a 15% approval rate and an average $230,000 grant.
  • Big banks generally don’t fund young companies, and most small banks want to see at least a year of revenue before lending you money, unless you have lots of personal assets to use as collateral.

In light of the other alternatives, the 36% average Kickstarter success rate doesn’t look so bad!

 

Don Gooding

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