|The paper takes a closer look at cultural festivals such as musical or operatic festivals. From an economic viewpoint the paper shows that such festivals offer great artistic and economic opportunities, but that at the same time these opportunities are also easy to destroy. Empirical evidence from the Salzburg Festival show that government support can have negative effects on the innovative and economically success of festivals by introducing distorting incentives and imposing all sorts of restrictions. The paper draws policy suggestions on how the state can support art festivals.|
This paper explores innovation versus risk for small companies using crowdfunding products as a proxy for analysis. A database with 127 consumer electronics, namely 3D printers and smart watches, are collected from Kickstarter and Indiegogo. The metric of Real-Win-Worth is adapted to provide a well-rounded assessment of the product’s innovation, risk and other related business and engineering aspects. Our result suggests a preliminary framework of innovation and risk balance for crowdfunding NPD success. A statistical model is developed to correlate the amount of crowdfunding raised with 64% predictability. These results may contribute to better understand and balance risk and innovation in crowdfunding and small company contexts.
In The Kickstarter Handbook, business writer Don Steinberg interviews dozens of people who have raised at least $100,000 on Kickstarter. You'll learn all the strategies of an effective Kickstarter campaign. You'll learn the perils and pitfalls that have dashed many a dream. And you'll learn what to do in the event of a best-case scenario - when your product goes viral and suddenly the cash starts flowing in.
In this paper, the authors intend to answer the question “what set of features determine a project’s success?”. They begin by studying the dynamics of Kickstarter, a popular reward-based crowdfunding platform, and the impact of social networks on this platform. Contrary to previous studies, their analysis is not restricted to project-based features alone; instead, they expand the features into four different categories: temporal traits, personal traits, geo-location traits, and network traits. Using a comprehensive dataset of 18K projects and 116K tweets, they provide several unique insights about these features and their effects on the success of Kickstarter projects. Based on these insights, they build a supervised learning framework to learn a model that can recommend a set of investors to Kickstarter projects.
The barriers facing artists’ use of crowdfunding platforms: Personality, emotional labor, and going to the well one too many times
Using a survey of crowdfunding project founders in the culture industries, the authors explored the relationship between certain social and psychological characteristics and attitudes toward crowdfunding. They examined how extraversion, surface acting, emotional labor, the social composition of project backers, and project success all relate to enjoyment and future intentions of using crowdfunding in the culture industries. Crowdfunding appears to advantage culture producers with particular personality structures while disadvantaging others. In sum, crowdfunding seems beneficial but might be useful only for particular types of artists and therefore should not supplant other traditional financing modes.
To better understand the factors affecting campaign outcomes, this paper targets the content and usage patterns of project updates–communications intended to keep potential funders aware of a campaign’s progress. The authors analyzed the content and usage patterns of a large corpus of project updates on Kickstarter, one of the largest crowdfunding platforms. Using semantic analysis techniques, they derived a taxonomy of the types of project updates created during campaigns, and found discrepancies between the design intent of a project update and the various uses in practice (e.g. social promotion). The analysis also showed that specific uses of updates had stronger associations with campaign success than the project’s description. Design implications were formulated from the results to help designers better support various uses of updates in crowdfunding campaigns.
Does a better cultural milieu make a city more livable for residents and improve its business environment for firms? I compute a measure of cultural specialization for 346 U.S. metropolitan areas and ask if differences in cultural environment across cities capitalize into housing price and wage differentials. Simple correlations replicate standard results from the literature: cities that are more specialized in cultural occupations enjoy higher factor prices. Estimations using time-series data, controlling for city characteristics and correcting for endogeneity weaken the magnitude of this effect. Even though the arts and culture might be appealing to some people and firms, such determinants are not strong enough to affect factor prices at the city level.
|Sustainably managed music festivals have significant value and can provide a multitude of benefits to a healthy, sustainable and desirable society if their negative impacts are mitigated and positive impacts cultivated. To reach this great potential, sustainable event management of music festivals must become widely adopted and expanded as common practice. To drive this improvement of sustainable event management, there is a need to first understand the barriers and success factors event organizers face moving their music festivals toward sustainability. This study uses a research design of mixed quantitative-qualitative methods: a survey of thirty diverse music festival organizers across the United States and interviews with five selected survey participants. Research draws on pertinent literature from sustainability theory and practice, previous research on sustainable event management, existing strategies of sustainable events, and lessons from organizational change studies. Findings revealed seven key barriers and four success factors associated with sustainable event management of music festivals as well as three specific needs of event organizers to improve sustainable event management. With these findings, seven strategies are presented to help event organizers adopt and improve sustainable event management of music festivals. This study is significant because it fills an important gap in the academic literature on events and sustainability. Additionally, this study is immediately applicable to Untied States music festivals. The findings were drawn directly from the perspectives and experiences of event organizers, and the strategies are designed to be specifically applied to their sustainable event management work.|
|The development of the festival and event industry has seen large scale growth and extensive government support as a result of objectives to enhance and project the image of place and leverage positive sponsorship and regeneration opportunities. As we move deeper into austerity measures prompted by economic recession, community festivals and events as a sacred or profane time of celebration can be considered even more important than ever before.
This book for the first time explores the role and importance of ‘community’, ‘culture’ and its impact through festivals and events. Split into two distinct sections, the first introduces key themes and concepts, contextualises local traditions and culture, and investigates how festivals and events can act as a catalyst for tourism and create a sense of community. It then questions the social and political nature of festivals and community events through examining their ownership. The second section focuses on communities themselves, seeking to examine and discuss key emerging themes in community event studies such as; the role of diaspora, imagined communities, pride and identity, history, producing and consuming space and place, authenticity, and multi-ethnic communities. Examples are drawn from Portugal, the Dominican Republic, the USA, Malaysia, Malta, Finland and Australia making this book truly international.
This significant volume will be valuable reading for students and academics across the fields of Event, Tourism and Hospitality studies as well as other social science disciplines.
|Festival and Special Event Management, 5th edition continues the comprehensive overview of the theory and procedures associated with festivals and special events established in previous editions. The new edition of this market-leading text introduces developments and professional tools, and considers the globalisation and subsequent internationalisation of event management.
The role of marketing and communication, environmental planning, the increasing role of governments through the creation of event strategies, and the different perspectives of event management are all discussed. This edition aims to embrace and extend the growing body of knowledge relating to event management by tracking many of the recent changes and developments in the field. This offers students a current, relevant textbook for their study and professional reference.
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