The next seminar in our English-language Digital Europe Economic Seminars series was dedicated to Carolina Dalla Chiesa’s study on the crowdfunding phenomenon.
Crowdfunding is a local phenomenon with international potential. Creators often remain largely confined in their local environments, yet expect to go beyond small cultural productions. This rather locally-restrained view finds a connection with vast empirical evidence that shows how crowdfunding reinforces local ties, clusters, close social networks, hence relying upon local endowment (Agrawal et al., 2011; 2015; Hui et al., 2014; Lin & Viswanathan, 2016; Mendes da Silva et al., 2016; 2018; Breznitz and Noonan, 2020). In her presentation, the speaker delved into aspects related to the economic geography of crowdfunding and its relationship with various cultural and creative industries.
During the seminar we will explore the differences between sectors and the reach of crowdfunding campaigns as a way to analyse the economic characteristics of cultural goods made available through crowdfunding. The presentation was also devoted to the characteristics of the rewards offered in cultural crowdfunding campaigns: their characteristics related to experience, goodness and signals of support. This has shed light on one of the most innovative forms of funding for cultural and creative industries, its limitations and its future research agenda.