I am a data nerd.
I am a platform geek.
I am passionate about commerce.
These are things that, if you have met me, you know.
What you may not know (unless you have seen the fingernails on my right hand) is that I also am a guitarist.
Music represents a unique creative outlet that I find wildly important. Recently, I have had the opportunity to partner with good friends at LaunchPad Studios, Inc. (in Arvada, Colorado) as a studio musician and a producer on an as needed basis.
Over the last several months, it has been interesting to watch as a high percentage of projects have been funded through Kickstarter. This, in and of itself, is not that suprising…after all, Kickstarter announced this week that their Platform has enabled more than 1 Million backers and more than 100 Million in funding.
Kickstarter is a platform, it enables a commerce workflow, is related to music, and generates a wealth of interesting data. Seems the perfect confluence of events and interests for a Friday night exercise…
I will warn/advise you, in advance, that the purpose of this exercise was not to discuss the methodology by which Kickstarter collects and disburses funds (although that is an interesting discussion) but to analyze the outcome of the funding process itself.
In discussing this process with several of these artists, there are some base assumptions that are made regarding the most popular level of backing, duration of project, etc. And, while experiential knowledge is important, I was interested in whether I could identify any patterns from some simple analysis of data available on the Kickstarter website.
My methodology was not what I would refer to as “rigorously scientific” but the analysis thereof did result in some interesting patterns. Read the rest of this entry »