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Professor Illingworth on the Ethics of Crowdfunding

New York City Opera Fights for Survival Using Kickstarter

When New York City Opera turned to Kickstarter as part of an emergency effort to raise $1 million by September 30, it did so against some immense odds: the fundraising website has seldom hosted a successful million-dollar campaign, and never in the service of a performing arts institution.

Kickstarter’s published figures show that a mere 47 out of 48,640 successfully funded projects have raised $1 million or more. Twenty-five of those $1 million-plus projects have been to finance video games; one was for music. Instead, the vast majority of the site’s clients raise between $1,000 and $10,000.

Despite these odds, philanthropy professionals acknowledge that crowdfunding sites can be a valuable tool for institutions, and are no longer just the domain of small-time artists seeking their first big break… read more here.

Published On: February 18, 2015 |
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