Crowdfunding has allowed a great number of advances in humanity. From progress in the world of business and economy, to attention to problems that affect the world. But now this method of financing goes further and is used to protect culture. Hence the birth of a term called “cultural crowdfunding”. Which we’re going to talk about today.

Cultural crowdfunding and financing of cultural projects

Crowdfunding became popular in 2008 and also in later years as a method for financing commercial projects. It already had background but it wasn’t until those years that it became known as much as it’s today. Collective financing or crowdfunding later became a form of avant-garde and almost innovative financing.

It began to be used so openly that people started financing interesting causes. Among them, projects destined to protect, safeguard and promote the general culture of a society. This is how the term “cultural crowdfunding” was born. Denominated like this by several experts in Internet to make reference to the collective financing destined to finance these cultural projects.

The origin of this initiative doesn’t have a clear date. But as close as 2010, crowdfunding campaigns on cultural projects were already openly known. In February 2016, the Crowdfunding4Culture website was founded, with the support of the European Crowdfunding Network and other partners. And on this page, the way in which crowdfunding works in the cultural and creative area began to be studied.

This website refers to a particular study started in 2013 entitled “Crowdfunding: reshaping the crowd’s engagement in culture”. Whose results were finally published in 2017. Here, it’s mentioned that crowdfunding is no longer just to raise funds, but that it now “offers new opportunities for cultural and creative sectors” within the government, social and market “spheres”.

crowdfunding4culture study
According to this study by the European Commission, cultural organizations obtain financing from these three areas. But that the social or “informal” sphere is the one that does it through crowdfunding. Source: Crowdfunding for Culture

Impact of cultural crowdfunding on society

Continuing with the previous point, this study explains how cultural crowdfunding works. Any person, entity or organization that seeks to create a campaign of this style, resorts to the “social sphere”. Ergo, the fortuitous support of the society in which it’s located. Part of the work lies in motivating people to engage with culture. Although this engagement goes beyond simple economic support.

Before explaining its impact, it’s important to define what’s considered “cultural crowdfunding”. And according to the aforementioned study, this term labels campaigns about architecture, archives, bookstores and museums, literature, music, performing arts, publishing and other sectors of culture. A report carried out by the Spanish social initiative cooperative ColaBoraBora in 2016 establishes that crowdfunding promotes “cultural consumption”.

cultural crowdfunding society
Cultural consumption allows individuals and organizations to finance causes that move society. In this case, through crowdfunding.

According to this report, this means that the creators of these campaigns use crowdfunding as a tool to interest society in culture. Both to consume it, identify with it and protect it. However, it’s mentioned that this has raised criticisms of crowdfunding, as some people see it as a threat to government entities. Who are expected to finance these culture projects.

Be that as it may, cultural crowdfunding has managed to raise high amounts of money worldwide. The main reason for this is the communication techniques used to promote cultural campaigns. As the aforementioned study by the European Commission says, it is about appealing to the emotions of the people. Creating campaigns that, instead of being formal and commercial, touch on beliefs and social identity.

motivation society cultural crowdfunding
The study carried out by the European Commission explains that cultural crowdfunding seeks to exploit the diverse motivations of society to make it commit itself to a cause. Source: SlidePlayer

Cultural crowdfunding works very closely with reward-based and donations-based crowdfunding. Since these two derivatives of crowdfunding allow anyone to make a deep approach with people. Because it’s not just about getting money, but to support a cause in which you have faith. Supporting, taking and consolidating values ​​and principles that drive society to participate in these projects.

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What else will we see of cultural crowdfunding…?