Indiegogo and Kickstarter are 2 of the world’s most popular crowdfunding platforms. We’re sure you’ve read some crowdfunding stats, but there’s more to the story than that. If you’re looking for ways to fund your startup, crowdfunding is a legit way to go.
Will your idea do well on crowdfunding platforms? How much can you potentially raise?
To help you make an informed decision, we took it upon ourselves to collect, analyze, and report on some crucial data. In the end, we found some mind-blowing Indiegogo and Kickstarter stats that you need to know.
If you want to know more about the Kickstarter success rate, along with other crowdfunding statistics about backers, high-performing categories, and amounts raised for Kickstarter and Indiegogo, you’ve come to the right place.
Here is our midyear update on Kickstarter and Indiegogo crowdfunding stats.
Our analysis of Kickstarter and Indiegogo platforms was done based on core data about backers, product categories, prices, and more.
The main limitation of this research report is regarding data collection. Our sampling procedure was limited. Thus, we ended up with a smaller sample where we could gather quantitative data, especially for Indiegogo stats.
Since getting information about Indiegogo campaigns is much more complex than Kickstarter, our sampling sizes were not equal for both platforms. Nevertheless, we made sure that this crowdfunding market report conveys clear industry patterns and critical insights by using different analysis tactics and strategies.
If you want to know more about this giant crowdfunding platform, these Kickstarter stats should tickle your brain.
We divided these 678 projects into 3 groups according to their budgets. It turns out that almost half of the money was raised by only 9% of these projects (65). In other words, 9% of the projects managed to raise 46% of the total funds.
Figure 1. The most successful crowdfunding campaigns on the Kickstarter platform (year 2021, 1st semester)
So obviously, there were elephant campaigns that raised significantly higher amounts of money than an average crowdfunding campaign could reach. As you can already tell, the budget plays a big role in a Kickstarter project’s success rate.
We will take a closer look at these campaigns and dissect them further in this section of our Kickstarter stats.
Now, let’s have a look at the campaign backers behind the funding of these crowdfunding projects.
Figure 2. Top product categories for a successful crowdfunding campaign on Kickstarter platform
The Technology product category generated a significant portion of money with a much smaller number of campaign’s backers. This shows that backers do not mind paying for pricey tech products if they are innovative enough.
Tech project backers need you to add significant value to their lives, and they’re ready to pay for it. This is one of the Kickstarter statistics that’ll make it easier for you to answer the question, “is crowdfunding worth it for my project?”
So now, let’s deep dive into our crowdfunding stats for the 65 projects with >$1mln funding.
This means that projects and project owners (product creators) can even succeed from their first try. If you’re a first-time campaigner, just know that anything can happen.
Just as in the total sample, the Games product category is the leader in campaigns that raised over $1 million.
The Design category takes second place, and it’s not a close call either. Although it has a significant number of campaign backers, it also has lower average prices.
And again, backers in the Technology category are ready to pay a higher price for their favorite innovative products.
Here’s a more detailed representation of the top product categories, their proportions, average amount of money pledged, number of backers, and of course, amount of funding generated.
Table 1. Summary of successful crowdfunding campaigns on Kickstarter platform based on product categories and money raised
When trying to identify the kind of crowdfunding projects that have higher chances to become champions by these metrics, it becomes apparent that there are both high- and low-price projects.
As for the product categories – the most popular ones have a higher number of total launches, thus a higher number of champions accordingly.
Still, there are champions in the least popular categories as well, which shows that the crowdfunding success rate of a crowdfunding project mainly depends on the product itself and the campaign marketing strategy rather than the price or category.
If we group the price into 3 ranges, it is possible to see that 65% of the campaign backers funded crowdfunding projects with prices around $100, while only 1% of them pledged anything more than $500.
Figure 3. Percentage of backers based on average pledged money on Kickstarter
The following figure shows the funds raised during each month.
Figure 4. Generated/raised money amount from successful campaign for each month on Kickstarter
Surprisingly, the most funds were raised during March and April in the first half of 2021. We also see the decreasing tendency through summer, which is a typical n because people are traveling more. After the year ends, we will be able to see the full picture.
And that concludes our Kickstarter stats for the first half of 2021. If your genius idea is in the top 3 categories of Games, Design, and Technology, you have better chances of running a million dollar campaign. In any case, if your product is worth it, no Kickstarter statistics should stop you from taking your chance. After all, the crowdfunding market is full of surprises.
Now that we’ve looked at one giant, let’s look at the next. Here are the Indiegogo stats you need to know for the first semester of 2021.
As mentioned before, we had a limitation on data collection for Indiegogo, so there is a big difference in the sampling quantities between Indiegogo and Kickstarter stats.
We have sampled 123 projects, with budgets of over $50k, that have raised $66 million across 16 categories in the first half of 2021.
Figure 5. Successful campaigns on Indiegogo per category (2021, 1st semester)
Let’s have a look at the backers behind the fundings. In the first 6 months of 2021, 184k backers contributed to Indiegogo crowdfunding campaigns. The leading categories are:
Figure 6. Favorite product categories on Indiegogo
These top 4 categories include about 50% of the backers, generating 50% of the total funds. This means that half of the backers invested in average-priced products.
Just like we did with Kickstarter stats, let’s have a deeper look into Indiegogo stats for the 17 projects with >$1,000,000 funding.
Table 2. Summary of successful campaigns on Indiegogo based on categories and money raised
Among these champion projects, there are ones with significantly higher average pledges and fewer backers, as well as ones with more backers and lower prices.
Having talked about crowdfunding stats for Kickstarter and Indiegogo separately, it’s time to compare them. Keep in mind that due to the difference in sampling sizes, these crowdfunding platforms can’t be compared too strictly. In any case, we’ve identified and explained some patterns across the data that we have.
Looking at the top 100 projects across two platforms, Kickstarter raised around 3 times more funds than Indiegogo, but with 7 times the backers. This means the average pledge on Indiegogo is significantly higher. In other words, Indiegogo has a considerably fewer number of backers who don’t mind paying a higher price for better products.
The highest funded project in the first half of 2021 on Indiegogo is Lomi – a compost gadget that raised $6.9 million with 18.6k backers when the campaign was live. This is the first project of a Canadian company called Pela.
On Kickstarter, the highest funded project is unsurprisingly a board game called “The Witcher: Old World,” which raised $8.1 million thanks to 45k backers. It was the third campaign for a Polish company called Go on Board (the previous two raised only about $400k in total).
$295 million was generated on Kickstarter, via 2.5 million backers, for 678 projects with >$100k budgets.
The top 3 categories in terms of both backer quantity and money raised are the following.
$66 million was generated on Indiegogo, via 184k backers, through 123 projects >$50k budget.
The top categories in terms of both backer quantity and money raised are the following.
Your chances of raising more than $1 million for your first campaign are just as high as if you had already completed other successful or even unsuccessful projects.
One of TCF’s recent campaigns, GigaDrive – World’s Fastest External SSD, raised $1,717,269 on Indiegogo, being the first crowdfunding project for the creator company.