Global Art Crowdfunding Market Insights Forecasts to 2033

• The Global Art Crowdfunding Market Size was Valued at USD 1.62 Billion in 2023
• The Market Size is Growing at a CAGR of 11.47% from 2023 to 2033
• The Worldwide Art Crowdfunding Market Size is Expected to Reach USD 4.8 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Art Crowdfunding Market Size is Anticipated to Exceed USD 4.8 Billion by 2033, Growing at a CAGR of 11.47% from 2023 to 2033.

Market Overview

Art crowdfunding enables artists to raise funds for financial support of their projects via online and offline platforms. Crowdfunding can help artists with expenses such as rent, staff, musical production, food, and other needs. It can also serve as an effective marketing tool. This fundraising model offers benefits such as easy access to funding, enabling artists to bypass traditional financing barriers, and developing a direct connection between creators and their audience. The increasing internet penetration and the rising popularity of social media have given artists the ability to reach a global audience, and these factors drive the market's growth. Moreover, the desire for unique and personalized art experiences has led many backers to support innovative and diverse art projects.

There are several opportunities in the art crowdfunding market, driven by the rising interest in creative expression and the digitalization of art distribution. Market trends indicate a shift towards more interactive and engaging projects, such as virtual art exhibitions and collaborative art displays, which attract a wider range of backers. Art crowdfunding offers benefits such as access to a wider and more loyal audience base, personal introductions, better supporter relationships, and more efficient and effective fundraising.

Report Coverage

This research report categorizes the market for the global art crowdfunding market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global art crowdfunding market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global art crowdfunding market.

Driving Factors

First and foremost, mobile applications and websites are becoming popular as a way to run crowdfunding campaigns. The widespread adoption of the internet and social media platforms has revolutionized how artists connect with their audience, allowing for more reach and effective marketing of their projects. It is beneficial for emerging artists, as they can now access potential backers from around the world without relying on traditional intermediaries. Additionally, the growing demand for unique, personalized, and authentic art experiences has motivated backers to support innovative and diverse projects, driving the market expansion.

Artists are turning to crowdfunding as an alternative to conventional funding mechanisms as it allows them to maintain creative control, reducing the influence of gatekeepers and providing greater artistic freedom. Moreover, technological developments, such as convenient online payment systems and user-friendly crowdfunding applications, have made it easier for artists, investors, and buyers to participate in the market.

Restraining Factors

Some challenges are anticipated to restrain the growth of the global art crowdfunding market. It includes the high number of artists on these platforms leading to high competition and the uncertainties regarding project completion and delivery. Despite its significant potential, the global art crowdfunding market faces several restraining factors. It can be challenging to gain visibility and attract sufficient investors. Furthermore, the variability in the quality and credibility of projects on crowdfunding platforms can weaken backer confidence. Changing government regulations according to the country can also be a big hurdle for market growth.

Market Segmentation

The global art crowdfunding market share is classified into fee type, art type, and application

• The 5% fee segment is expected to hold the largest share of the global art crowdfunding market during the forecast period.   

Based on fee type, the global art crowdfunding market is divided into 5% fee, 4% fee, 3% fee, and others. Among these, the 5% fee segment is expected to hold the largest share of the global art crowdfunding market during the forecast period. It offers a balance between affordability for artists and sustainability for the platforms. Crowdfunding platforms charge this fee on the funds raised and use it to cover administrative costs, payment processing, and platform maintenance. The 5% fee structure has become widely accepted as it provides artists with a high payout rate, making it an attractive option. Additionally, this fee level enables platforms to offer good support services, such as marketing tools, analytics, and customer support for campaign success rates.

• The visual art segment is expected to hold the largest share of the global art crowdfunding market during the forecast period.   

Based on the art type, the global art crowdfunding market is divided into visual art, performing art, literary art, and others. Among these, the visual art segment is expected to hold the largest share of the global art crowdfunding market during the forecast period. The large share of this segment is due to its broad appeal and easily shareable nature, which makes it highly suitable for online platforms. Visual art includes a range of art forms such as painting, sculpture, drawing, printmaking, photography, video, filmmaking, ceramics, comics, design, crafts, architecture, and digital art, catering to diverse audience interests. The visual nature of these artworks makes them ideal for social media marketing, allowing artists to effectively showcase and promote their projects and engage with potential investors. Additionally, visual art projects have tangible rewards, such as physical prints and original pieces, which can encourage higher contributions.

• The films segment is expected to grow at the fastest CAGR in the global art crowdfunding market during the forecast period.

Based on application, the global art crowdfunding market is divided into films, music, stage shows, comics, journalism, publishing, museums, galleries, and others. Among these, the films segment is expected to grow at the fastest CAGR in the global art crowdfunding market during the forecast period. Its growth is driven by the growing popularity of independent filmmaking and access to crowdfunding as an alternative to traditional financing. Crowdfunding platforms have empowered filmmakers to bypass industry gatekeepers, allowing greater creative freedom and direct engagement from audiences. Additionally, film projects attract backer interest due to the high reach, visibility, and interactive nature of film creation, which sometimes allows backers to be involved in the production process. The rise of streaming services and online film distribution also provides independent films with massive reach and revenue potential, further fuelling the rapid growth of the film segment.

Regional Segment Analysis of the Global Art Crowdfunding Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global art crowdfunding market over the predicted timeframe.

The region has been witnessing increasing demand for digital fundraising solutions and the growing popularity of art crowdfunding. Its large share is mainly due to the well-established digital infrastructure and widespread availability of high-speed internet, leading to easier accessibility and higher participation in crowdfunding platforms. Additionally, North America has several leading crowdfunding platforms such as Kickstarter and Indiegogo. The widespread cultural and creative arts sector contributes to the market's growth, as these countries have many artists and a supportive environment for projects. Moreover, the rising disposable income of investors and art enthusiasts, along with the philanthropic culture in the North American region encourage generous contributions to art projects.

Asia Pacific is expected to grow at the fastest pace in the global art crowdfunding market during the forecast period. The region has been witnessing increasing demand for digital fundraising solutions and the growing popularity of art crowdfunding. Its large share is mainly due to the well-established digital infrastructure and widespread availability of high-speed internet, leading to easier accessibility and higher participation in crowdfunding platforms.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global art crowdfunding market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• WhyDonate
• UFANDAO
• Voordekunst
• HelloAsso
• Verkami
• KissKissBankBank
• Lendopolis
• Goodeed
• microDON
• Crowdbound
• 4fund.com
• Dartagnans
• Kanvas.ai
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2024, the Indiana Housing and Community Development Authority launched a crowdfunding campaign to raise money for two new public art projects in Broad Ripple.

• In October 2023, BackerKit, a crowdfunding platform for creators, banned AI-generated content from its platform, including art for board games. The startup crowdfunding platform now stands in clear opposition to Kickstarter.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global art crowdfunding market based on the below-mentioned segments: 

Global Art Crowdfunding Market, By Fee Type

• 5% Fee
• 4% Fee
• 3% Fee
• Others

Global Art Crowdfunding Market, By Art Type

• Visual Art
• Performing Art
• Literary Art
• Others

Global Art Crowdfunding Market, By Application

• Films
• Music
• Stage Shows
• Comics
• Journalism
• Publishing
• Museums
• Galleries
• Others

Global Art Crowdfunding Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa