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.