Wednesday, May 28, 2014

Crowdfunding

As my facebook status indicates, I am indeed just watching the numbers scroll up next to LeVar Burton's smiling, wrinkly face. I predict that it will reach it's million dollar goal by the time I am done writing this.

I think crowdfunding is great, my Kickstarter profile shows the 7 projects I have backed. I have contributed to indiegogo campaigns, GoFundMe, and wedidit campaigns to name a few. I work with philanthropic organizations and my colleagues have asked how we can connect our foundations with folks on Kickstarter, to provide one angel investor cover the fundraising goal? They are onto something about connecting foundations with individuals online, but I don't think Kickstarter is the right platform. Kickstarter is exactly that. You want lots of individuals to donate so you actually have product to distribute, people to read your book, listen to your music, come see the play, use your deck of cards, play your board game. We should start connecting funders and foundations with individuals on GoFundMe and grassroots organizations that are not as well known. The Reading Rainbow Campaign will probably be the most successful project in the history of Kickstarter, they hit a sweet spot! The bulk of individuals donating are 90s kids waxing nostalgic about their childhood and they are now at an age where they have income to spend, and they probably have children they want to expose to the same joys of video field trips.

What's funny is this is not the only crowdfunding site I've been keeping my eye on. My friend started her own crowdfunding campaign for her band and their new EP. They just made their own version of a crowdfunding page on their website and set a goal of $10,000. The page has an accompanying video and a sliding scale of perks. I frequently check the page to see the total amount donated because I absolutely want them to reach their goal and it's fun to watch the progress bar move higher and higher. I now have both of these crowdfunding pages open, Reading Rainbow is at $955,838 and growing by the second, and Ivory Hours is at $2,476 and hasn't moved all day (probably because they update it manually at the end of the day) Also, Ivory Hours does not have a massive fan base of millennials with disposable income (yet) and they are also promoting to a generation that prides itself on obtaining music by not purchasing it. Ivory Hours really needs a kickstart! They need people to purchase the album, and listen to it and love it! LeVar Burton could have funded this whole project himself and people still would have flocked to purchase the product. I understand that he wants to provide the program for free, but I don't think he needs a kickstart in the same way emerging bands from Ontario do. So please, watch the music video for Mary. Be moved. Go to their website. Buy the album and dance to it with your mom.