Factors of Craudfunding Success in Publishing: World and Domestic Experience

Abstract

Research methodology. In the course of writing this article, a classification method was used to identify the most interesting crowdfunding platforms. With the help of descriptive method we were able to consider the specifics of each. Methods of analysis and synthesis have led to some generalizations and conclusions. With the help of these methods applied problems have gained scientific understanding. Methods of analogy and generalization have led to the conclusions about the similarity and difference of operation of crowdfunding on foreign and domestic platforms.

Results. Thus, we have studied the history and identified the specific features of crowdfunding platforms in Ukraine and in the world; analyzed Kikstarter and «Spilnokosht» Community on the Big Idea platform as a place for ideas and fundraising.

Before selecting a crowdfunding platform for a project, you must carefully read the rules, conditions and restrictions of each platform, examine their areas of activity and target audience. An important factor in the selection is the statistics of the platform, which shows its openness and level of success.

With all its benefits, crowdfunding is not an «easy way to make money.» The general laws of investment apply here, in which case a large number of people are a collective investor.

Few people want to invest in an idea project. The audience should see that the design is viable, and the team of authors has the resources and knowledge to translate it. It is also difficult to start a project without having experience and reputation in your field.

When launching a project on a public funding platform, its sponsors should be prepared for the sometimes difficult job of designing and promoting the project.

The project team should be as clear, complete and clear as possible about their project, its history and every step of the way. Such information openness engenders emotional involvement and trust of the audience. It is equally important to be able to disseminate this information, to reach the most popular channels, to cooperate with the media, bloggers, opinion leaders.

Sometimes authors need to be prepared to publicly fund part of their project. This is especially the case when the crowdfunding platform operates on an all-or-nothing basis. But if audience funding is really poor, authors need to be prepared to review their ideas, get feedback from the audience, and decide what needs to be changed.

Novelty. The article introduces the concept of «crowdfunding», identifies the main factors contributing to the positive and implementation of crowdfunding campaign, stated that this method of book publishing is very promising, although it can not compete with traditional book publishing.

Practical significance. The results of the study can be used to develop crowdfunding activities to promote the Ukrainian book publishing industry as a whole.

Key words: crowdfunding, publishing project, Kickstarter, «Spilnokosht» Community.