Kickstarter Believed To Be Providing Funding To The Arts Rather Than The NEA
Kickstarter co-founder Yancey Strickler said that the company is on track for distributing over $150 million to the projects of its users in 2012, which is more than the entire fiscal year 2012 budget for the National Endowment of the Arts (NEA). The NEA’s budget was $146 million.
“It is probable Kickstarter will distribute more money this year than the NEA,” stated Stricker. “We view that number and our relationship to it in both a good and bad way.”
“But maybe it shouldn’t be that way,” added Strickler. “Maybe there’s a reason for the state to strongly support the arts.”
Kickstarter is a bit different from the NEA. Kickstarter allows people to post random ideas for projects including iPod Nano watches and jelly fish aquariums. However Kickstarter requires that ideas require “projects with a creative purpose.”
“Kickstarter can be used to fund projects from the creative fields of Art, Comics, Dance, Design, Fashion, Film, Food, Games, Music, Photography, Publishing, Technology, and Theater. We currently only support projects from these categories.”
The project creators are given a window to hit funding goals, which end up usually being around a month. If the project is successfully funded, then Kickstarter takes a 5% cut. They use that money to pay their team of 37 people based in New York to run the website.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry