Crowdfunding4Culture: more than just funding
Faced with severe funding cuts, access to finance has become a pressing issue for the cultural and creative sectors. Crowdfunding has the potential of becoming a trusted funding vehicle for the cultural sector. However, more research is needed to better understand its value as well as the pitfalls. How do cultural organisations or creative professionals view crowdfunding? Is it a useful fundraising and audience development tool? What type of projects have the highest success rate? What is the right platform and funding model to use? Have local governments launched initiatives to support crowdfunding?
With this pilot project on behalf of the European Commission, IDEA Consult and its partners consortium European Crowdfunding Network and Ecorys have generated deeper insights on the motivation and barriers of using crowdfunding for the cultural and creative sectors in Europe, as well as on relevant policy initiatives to support the further development of crowdfunding as a valuable tool to strengthen cultural and creative actors across Europe. Particular attention went to the integration of crowdfunding in the broader financing mix of cultural and creative organisations, and the practise of matchfunding.
As part of the project, an online information hub on crowdfunding for culture has been developed, aggregating information and good practices for the benefit of everyone interested in crowdfunding for culture: www.crowdfunding4culture.eu. It also contains the full report and the different case study reports with good practices to inspire cultural and creative actors, policy makers and crowdfunding platforms. A closing conference was organised to share learning lessons and bring together the different stakeholders in CCS crowdfunding. During the study over 50 experts on crowdfunding and finance in CCS have been interviewed, or participated in workshops or in the final conference.
The full study can be consulted on the website of the European Commission: https://publications.europa.eu/en/publication-detail/-/publication/7e10916d-677c-11e7-b2f2-01aa75ed71a1/language-en