Cultural Crowdfunding: Does Experience Matter?

Abstract

Despite increasing interest in crowdfunding as an alternative source of, or supplementary, funding, there is stilllimited adoption of this new digital practice among artists. The current study explores the variety of fundingsources that artists use for their projects and the position of crowdfunding in relation to traditional sources. Inaddition, this study discusses how artists who embrace crowdfunding differ from those who have not tried it.The results indicate that favorable attitudes toward crowdfunding, subjective norms, self-efficacy, and perceivedbehavioral control are exhibited at higher levels among artists with crowdfunding experience compared to thosewithout it. To enable greater adoption, efforts need to be directed toward communication about the benefits ofcrowdfunding for artists, as well as the promotion of success cases. The endorsement of crowdfunding by culturalauthorities (e.g., through match funding) may further boost its uptake and unlock additional resources for culturalworkers in a time of digital disruption and increased uncertainty.