While Kickstarter’s hardware projects made headlines in 2012, film and gaming ideas (of both the video and board variety) were the real cash magnets for the crowdfunding site, raising a combined $176 million.
That’s just one of the many stats Kickstarter recently released on its crowdfunding activity in 2012, arguably the year the online service, and the notion of crowdfunding, went mainstream. In 2012 Kickstarter attracted more than 2 million backers who pledged a combined $319 million on everything from one-woman comedy shows to iPhone-enabled watches and electronic banana pianos. The money total blew away 2011 by 221 percent, and the number of backers grew a corresponding 238 percent.
But just because a campaign launched didn’t mean it was successful, in fact, it got harder as the year went on (especially for hardware projects), both by Kickstarter’s design and as the public wised up to beautiful-looking renderings of gadgets that would never get shipped. Of the 41,765 projects launched on Kickstarter, only 18,109 campaigns (about 43 percent) were successful.
Across project categories, gaming projects took in the most money, $83 million, thanks in large part to the Ouya gaming console, which raised $8.6 million in August. Film and video projects raised close to $58 million, the second-highest amount of cash, and Kickstarter notes that 10 percent of films at the January 2012 Sundance film festival were funded on the site. In third place were design projects (including furniture, iPhone cases, and bike accessories), which raised $50.1 million.
The single biggest Kickstarter star last year was the Pebble watch, which pulled in a record-shattering $10 million in May. However, in Kickstarter’s 50 slide “Best of 2012” presentation, there’s no mention of the e-paper watch nor hardly any other physical goods. The spotlight is clearly on art and performance campaigns; a not so subtle hint at Kickstarter’s growing fatigue with design and technology projects, which caused the crowdfunding site considerable pain in 2012.
Here was the problem: fully 84 percent of the top physical product-based projects were delayed. That in turn led to a wave of unhappy backers who mistakenly thought pledging amounted to online shopping. As a result, Kickstarter laid out stricter guidelines for campaigns in the design and technology categories, where you find nearly all of the non-food consumer products on the site.
Product inventors must now have photographs of their working prototypes instead of computer renderings, and clearly articulate to backers the risks of their project. Even if you follow these guidelines perfectly, the odds you’ll get your product accepted on Kickstarter have diminished. The startup’s widely-discussed “Kickstarter is Not A Store” blog post from September made it clear that Kickstarter doesn’t know how to handle million-dollar hardware projects and has no desire to figure it out.
In many ways, the decisions about what to include and exclude in its 2012 roundup are an indication of where Kickstarter wants to place its emphasis going forward. It’s projects like this video game proposal, the XOXO Festival (one of the first major festivals funded on the site), and a community hackerspace in Baghdad.
As cool as the Pebble watch may be, it’s not likely you’ll see the likes of it rise up again on Kickstarter, especially as other crowdfunding sites emerge and start to specialize in the categories and projects with which Kickstarter would rather not bother.
Kickstarter Campaigns Reap $319M in 2012
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Kickstarter Campaigns Reap $319M in 2012
