Robert Andrews has published a report on the state of crowdfunding for PaidContent.org. He estimates that $80 million has been pledged through the 12 or so major crowdfunding sites. Not all projects get funded, and the returns for the sites themselves appear modest. Still, his findings include some remarkable success stories:
- In one example, 13,512 people recently raised nearly $1 million for a Chicago designer.
- Kickstarter’s users raised nearly $1 million last month for the designer of an iPod Nano wrist-watch strap.
- Recognizable bands such as Cornershop, The Subways, Gang Of Four and Funeral For A Friend have successfully used the crowdfunding model through PledgeMusic, while Public Enemy financed its last effort through Sellaband.