25 Critical Crowdfunding Statistics [2023]: How Many Crowdfunding Platforms Are There - Zippia (2024)

Research Summary: Crowdfunding is an increasingly popular way to raise money. Our research team broke down the most essential statistics to understand what crowdfunding is all about:

• 22.4% of all crowdfunding operations are successful.

• Crowdfunding generates $17.2 billion annually in North America.

• The market value of the crowdfunding industry is $12.27 billion.

• On average, individuals pledge $96 in a fully funded project.

• A typical crowdfunding campaign earns approximately $5,270.

• The crowdfunding market is projected to double by 2027.

For further analysis, we broke down the data in the following ways:
General | Donor | Platform | Industry | Trends and Projections

Successful Crowdfunding Campaign Statistics

In theory, crowdfunding is a great way to collect capital to build a project, initiative, or business without providing money upfront. But how successful can crowdfunding really be? Consider the following statistics:

• Successful crowdfunded campaigns raise an average of $28,656.

  Based on this average number, it’s clear that the most successful crowdfunding campaigns can find a balance between their goals and ambitious fundraising strategies. This number may be lower than most expect, but it is still plenty to get an initial initiative off the ground.

• Crowdfunding campaigns with personal videos raise 150% more than those without videos.

  This is the more successful tactic you can use in a crowdfunding campaign to help raise funds. Videos give supporters an easy way to learn about your cause and can be incredibly helpful in convincing others to donate.

• When using a crowdfunding ‘thermometer,’ crowdfunding campaigns see a 35% increase in giving.

  Crowdfunding thermometers show supporters how close you are to reaching their financial goals. This can entice your supporters to donate or donate more than they were initially considering.

• Campaigns with consistent updates regularly raised 126% more than those with no updates.

  Another tactic to a successful crowdfunding campaign is to ensure you keep your community active. Keep followers up to date so that they stay involved.

General Crowdfunding Statistics

Now that we’ve discussed how successful a crowdfunding campaign can be, it’s important to understand what an average campaign looks like. Here are some statistics outlining what you can expect from an average crowdfunding campaign:

• An average crowdfunding campaign lasts nine weeks.

  However, many crowdfunding campaigns can last longer than this. Crowdfunding is rarely instantly profitable.

• 78% of successful campaigns exceed their fundraising goal.

  Meeting your fundraising goal is an achievement in itself, but exceeding your goal is even better. Most successful campaigns end up surpassing their initial fundraising goal.

• A typical crowdfunding campaign earns $5,270.

  With the average crowdfunding campaign at around $100 per donor, this means you need an effective strategy in getting the word out about your campaign. On average, the most successful campaigns take around two weeks to prepare.

Crowdfunding Donor Statistics

• The average pledge for a fully funded project is $96.

  Although this number might seem small, it does reinforce the idea that crowdfunding is built upon — successful campaigns are often made up of many small-ticket pledges rather than a few large donation amounts.

• The average age range for donors is those between the age of 24 and 35.

  Due to the digital nature of crowdfunding, a younger population is more likely to give to these types of campaigns.

• 28% of donors are repeat donors.

  Although this statistic is slightly higher for nonprofit crowdfunding campaigns, you should see about a quarter of your supporters become repeat donors for your cause with the right message and strategy.

Crowdfunding Platform Statistics

Starting a crowdfunding project is simpler than you might think. There are many crowdfunding platforms on the Internet, all of which come with their pros and cons. Using a crowdfunding platform is essential to make it easy for your supporters to donate and for you to collect finances securely.

• Some of the most popular crowdfunding platforms in 2021 include Indiegogo, Kickstarter, SeedInvest Technology, MightyCause, StartEngine, Crowd Supply, GoFundMe, and Patreon.

  Each of these platforms comes with different features, pricing, and audiences. For example, MightyCause is best for nonprofits, while StartEngine is best for investing. Patreon is recommended for creative professionals, while GoFundMe is recommended for individuals starting an initiative independently.

• As of 2021, there are 1,478 crowdfunding organizations in the United States.

  The three largest crowdfunding platforms are Kickstarter, Indiegogo, and Crowd Supply.

Country	# Of Crowdfunding Funds Raised (In Billions)
United States	$73.6
United Kingdom	$12.6
Brazil	$5.3
Italy	$1.8
India	$1.7
France	$1.6
Germany	$1.5
Indonesia	$1.4
South Korea	$1.3
China	$1.1

• Since its inception, Kickstarter has had 211,462 successful projects out of 541,874.

  Of these successful projects, 606 raised over a million dollars, while 8,424 raised anywhere between $100K to just under a million. Most projects, however, raised between $1,000 and $9,999.

Crowdfunding Industry Statistics

The crowdfunding market is large, but there are all kinds of factors to consider to demonstrate how large it is. The top crowdfunded projects are organized in business and entrepreneurship ventures, with social causes accounting for one-fifth of the total crowdfunding market.

• The market value of the crowdfunding industry is $12.27 billion U.S. dollars.

  The market is projected to double by 2027, growing at a compound annual growth rate (CAGR) of 11%.

• As of 2018, the global crowdfunding market size was $84 billion, expected to reach $114 billion by 2021.

  This is a major industry, of which the US makes up 42%, the UK makes up 11%, and Canada makes up 5%.

• The average nonprofit crowdfunding campaign raises $9,237.55.

  The higher average amount is usually due to the nature of a nonprofit campaign. Typically, these campaigns are for something that tugs on the donor’s emotions, prompting them to donate more money than they might for an individual campaign.

Crowdfunding Trends and Projections

The crowdfunding industry is a fast-growing market with impressive financial statistics that rival traditional markets. One thing is abundantly clear — the crowdfunding industry is only growing and will continue to grow as individuals take the initiative on their innovations and ideas.

• The crowdfunding market is expected to have a year-over-year growth rate of 13.86% in 2021.

  This projection also states the crowdfunding industry to grow at a CAGR of 15% between 2020 and 2025.

• Crowdfunding revenue tripled from $530 million in 2009 to $1.5 billion in 2011.

  By 2012, over 450 crowdfunding platforms existed and raised over $2.7 billion worldwide. By 2015, that number had jumped to $24.4 billion.

• The crowdfunding market is expected to witness a growth at a CAGR of over 16% during the forecast period of 2021 to 2026.

  With the onset of COVID-19, the crowdfunding market has witnessed significant growth, especially in regards to donations that help and support communities, people, and organizations to stay afloat during the pandemic.

Crowdfunding FAQ

1. What’s the average success rate of crowdfunding campaigns?

   The average success rate of crowdfunding operations is 22.4%. However, many campaigns do get financed, even if unsuccessful. In total, 38.92% of crowdfunding projects are fully funded.



2. Is the crowdfunding industry growing?

   Yes, the crowdfunding industry is growing. The industry currently has a CAGR of 11%, and is expected to double in size by 2027.

3. How big is the crowdfunding industry?

   The global crowdfunding market was valued at 12.27 billion U.S. dollars as of 2021. China, the United States, and the United Kingdom are by far the most popular places for crowdfunding, but a total of 171 countries have access to crowdfunding as well. With that in mind, the industry is truly global in scale.

4. How much does the average GoFundMe make?

   The average GoFundMe only makes $265 as of 2020. GoFundMe donors give an average of $15 per donation, while any share of a GoFundMe campaign on social media, regardless of whether the user themselves donated, results in $13 per donation, on average.

5. What is the average crowdfunding donation?

   The average crowdfunding donation for a fully-funded project is $96. With an average of 47 backers per project, this can quickly add up to over $4,500. However, as the average donation amount, it’s important to keep in mind that $96 could be skewed between many small donations and one massive one.

6. How long should a crowdfunding campaign last?

   See Also

   9 Reasons Not to Crowdfund Your Next Project | Bplans

   An average crowdfunding campaign lasts around nine weeks. Many campaigns last longer than this because it’s difficult to gain traction at the beginning.

7. How many crowdfunding platforms are there?

   There are 1,478 crowdfunding platforms active in the US. Though, some crowdfunding platforms are far more well known than others.

   For example, the three largest crowdfunding platforms are Kickstarter, Indiegogo, and Crowd Supply. Kickstarter alone has had 211,462 successful projects out of 541,874 over the course of it’s lifetime.

Conclusion

Crowdfunding can be a successful endeavor for many entrepreneurs or non-profits. For instance, Oculus VR, an American virtual reality company, was funded through a crowdfunding site. There are various examples of success stories through crowdfunding, making this an exciting option for any entrepreneur or non-profit just starting out.

It’s important to understand the nuances of crowdfunding and the different platforms that offer this service. Because crowdfunding operates on a donation basis, the company is not required to pay back the funds, but many crowdsourcing initiatives offer incentives for early backers, such as an early release of the product or a gift.

However, there are also disadvantages, such as causing possible damage to your company’s reputation, and fees on crowdfunding sites, among other things.

As with anything, it’s important to do your research before you begin to ensure your venture sets off on the right foot.

References

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3. NP Source. “Online Crowdfunding Trends.” Accessed November 12, 2021.

4. FundDeed. “3 Keys to Effective Crowdfunding.” Accessed November 12, 2021

5. Fundly. “Crowdfunding Statistics [Updated for 2020!].” Accessed November 12, 2021.

6. Statista. “Crowdfunding – statistics facts.” Accessed November 12, 2021.

7. Investopedia. “Best Crowdfunding Platforms.” Accessed November 12, 2021.

8. Kickstarter. “Stats.” Accessed November 12, 2021.

9. Statista. “Market size of crowdfunding worldwide in 2020 with a forecast for 2027.” Accessed November 12, 2021.

10. Small Biz Genius. “40+ Crucial Crowdfunding Stats in 2021.” Accessed November 12, 2021.

11. Yahoo! “Crowdfunding Market size to increase by USD 196.36 Bn.” Accessed November 12, 2021.

12. Startups.com. “A Brief History of Crowdfunding.” Accessed November 12, 2012.

13. Mordor Intelligence. “Crowdfunding Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026).” Accessed November 12, 2021.