crowdfunding and media collaboration: about the rewards
DESCRIPTION
This is a presentation for the last Digital Culture and Communication ECREA Workshop, held in Bonn on the 3rd and 4th of October, 2013. Presenters were Talia Leibovitz and Antoni Roig (that's me, actually). Here, we outline a part of Talia's PhD research focused on film crowdfunding practices, attending to motivations of project promoters and backers through a survey addressed to users of crowdfunding platforms, particularly in Spain. In this occasion, we are pesenting some conclusions regarding the perception of the relevance of the rewards in the crowdfunding processTRANSCRIPT
Crowfunding and Media Collaboration: About the Rewards
Talia Leibovitz and Antoni Roig Open University of Catalonia/ Internet Interdiciplinary Institut (UOC/IN3)
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Research Framework
Research on emerging creative practices and discoursesrelated to the engagement of individuals and collectives inprocesses of audiovisual production.
• Participatory forms of media production• Affective engagement in complex narrative worlds, media objects
and production processes• Community-based filmmaking• Co-creation practices• Collaborative discourses on media production• Crowdfunding platforms
Openess of cultural production
Technological: easy access and use of software, production equipment and digital platforms that facilitate the appropriation, collaboration, and the dissemination of cultural objects produced
Legal: ease of access and use of contents, as evidenced by the easing of copyright licenses
Narrative: cultural creations which emphasize experience as multimedia, transmedia and crossmedia
Production: where we attend to transformations in the ways of realization of creative projects from the public involvement.
CrowdfundingDefinition 1: “the collective cooperation, attention and trust by people who network and pool their money and other resources together, to support efforts initiated by other people or organizations. (Kappel, 2009)
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CrowdfundingDefinition 1: “the collective cooperation, attention and trust by people who network and pool their money and other resources together, to support efforts initiated by other people or organizations. (Kappel, 2009)
Definition 2: “an open call, mostly through the Internet, for the provision of financial resources either in the form of donations or in exchange for some form of reward and/or voting rights in order to support initiatives for specific purposes” (Belleflame, Larralde and Schwienbacher, 2010)
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Types of crowdfunding
Donation: contributors receive nothing in return for their contribution.
Reward: backers receive a reward or compensation in return for their contribution.
Lending: Often called peer-to-peer lending. Peer-to-peer lending involves a loan. Contributors only provide the funds temporarily and repayment is expected.
Equity: The equity model gives contributors an interest in the profits or return of the project they are helping to fund.
• Direct Crowdfunding: The financing process is carried out independently.
• Indirect Crowdfunding: Mediated by specialized platforms dedicated exclusively to the promotion of projects like Kickstarter, Indiegogo or Verkami.
Types of crowdfunding
Research question:
• To what extent collaboration is mediated by the rewards? • What drives the crowd to collaborate with an audiovisual project
through crowdfunding?
Methodology
• Online survey on crowdfunding audiovisual backers• June 2013• 134 backers
Conclusions
• Rewards are not a differentiating factor among the motivations that engage the collaborating sponsors with audiovisual projects.
• The act of collaboration and the amount to donate are mediated by the support network based on pre-existing interpersonal relationships, the perception of quality, and the project’s contents.
• Not unconditional support. Looking for shared interest.
