Kickstarter Expects to Provide More Funding Than the National Endowment for the Arts This Year

More

kickstarterNY.jpg

Kickstarter is off to a running start this year. As Alexis Madrigal reported, the crowdfunding platform saw its first two million-dollar projects in one day, within four hours of each other, and a third reached that benchmark this past Monday. Earlier this month, people on the site pledged more than $1.6 million in a 24-hour period, more than doubling the previous record, which had been set the day before. Now, Carl Franzen of Talking Points Memo is putting that cash flow in perspective. He reports that the company is expecting to bring in $150 million in funding total this year -- more than the $146 million provided by the National Endowment for the Arts, the federal agency charged with supporting the arts (many Kickstarter initiatives are art projects of one kind or another). Franzen writes:

"It is probable Kickstarter will distribute more money this year than the NEA," said [Kickstarter co-founder Yancey] Stricker in an exclusive phone interview with TPM. "We view that number and our relationship to it in both a good and bad way."

As Strickler explained, the milestone is "good" in the sense that it means that Kickstarter may now reach a point where it will funnel as much money to the arts as the federal agency primarily responsible for supporting them, effectively doubling the amount of art that can get funded in the country.

"But maybe it shouldn't be that way," Strickler said, "Maybe there's a reason for the state to strongly support the arts."

There's room for both Kickstarter and the NEA; Kickstarter's projects tend to be of a different vein than NEA's grant recipients -- a little scrappier, a little more experimental. Kickstarter has filled a real need in bringing people together to fund the projects they want, and the results have been -- and continue to be -- wonderful.




Image: Kickstarter.

The crowdfunding platform is having a blockbuster year and may bring in as much as $150 million for the small projects on its site.

Jump to comments
Presented by

Rebecca J. Rosen is a senior editor at The Atlantic, where she oversees the Business Channel. She was previously an associate editor at The Wilson Quarterly.

Get Today's Top Stories in Your Inbox (preview)

The Time JFK Called the Air Force to Complain About a 'Silly Bastard'

51 years ago, President John F. Kennedy made a very angry phone call.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Adventures in Legal Weed

Colorado is now well into its first year as the first state to legalize recreational marijuana. How's it going? James Hamblin visits Aspen.

Video

What Makes a Story Great?

The storytellers behind House of CardsandThis American Life reflect on the creative process.

Video

Tracing Sriracha's Origin to Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.

Video

Where Confiscated Wildlife Ends Up

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Technology

Just In