Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/228302
Authors: 
Regner, Tobias
Year of Publication: 
2019
Series/Report no.: 
Jena Economic Research Papers No. 2019-010
Abstract: 
Membership platforms allow creators to crowdfund a monthly income, while campaigns on conventional reward crowdfunding portals aim to reach a specified funding target within a pre-set period. We study transaction-level data from Patreon, the biggest membership platform, to gain insights about behavioral patterns at this emerging type of crowdfunding. Our analysis shows that hundreds of creators crowdfund a sizable income (more than $2,500 monthly). We also find that measures of communication quality are determinants of project success, in line with the related literature. Funding dynamics - pledges as well as deletions - are heterogeneous across campaigns. Our analysis suggests that the option to delete the monthly pledge to a creator at any time serves as a feedback mechanism. We conclude that crowdfunding a monthly income offers the creative class a viable alternative to advertising-based business models.
Subjects: 
crowdfunding
Patreon
funding dynamics
cultural goods
membership platform
JEL: 
D90
G23
L26
L82
L86
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.