Crowdfunding is an alternative way for artists to fundraise for their projects.
Basics of crowdfunding
Instead of applying for large sums from a funder, you ask for smaller pledges from many individuals. Artists run “campaigns” that offer “rewards” in return for these pledges of financial support for their projects.
You usually commit to raising a certain amount of money for your project by a deadline. If you don’t meet your funding target, the money gets returned to your project supporters.
Crowdfunding activity happens online on specialised crowdfunding platforms (websites). Most of these support fundraising for specific, defined projects. Some, like Patreon are about generating ongoing support for your practice. These platforms might charge a subscription fee or take a small percentage of the money raised.
Running a crowdfunding campaign can be intense and involve a lot of work. It’s not suitable for all projects. As well as generating money, it’s can build audiences for your work.
Crowdfunding has become more popular over the years. There are many different platforms, resources and guides on how to do it well.
Crowdfunding resources
- Listen to photographer Marc Wilson talk about his two successful crowdfunding campaigns.
- Watch this Deborah Curtistalk about crowdfunding.
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