An Empirical Study of Factors Affecting the Performance of IP Derivatives Crowdfunding: A Brand Extension Perspective

Abstract

The Intellectual property (IP) derivative market has great potential value but also faces the risk of failure in derivative product. As a result, crowdfunding is increasingly used to test the market and promote IP derivative products. However, there are rare studies that focus on what factors could influence the success of this specific type of crowdfunding projects. This study adopts a brand extension perspective to treat IP derivatives as brand extension, and proposes the factors in terms of IP characteristics (IP popularity and IP quality), IP-derivative similarity (superficial similarity and spiritual similarity) and IP derivative characteristics (product category) influencing IP derivative crowdfunding performance. A total of 644 IP derivative crowdfunding projects from the Zaodianxinhuo platform in China were collected and analyzed. The results indicate that IP popularity, IP quality, spiritual IP-derivative similarity and product category positively affect crowdfunding performance. The findings contribute to the research of crowdfunding and brand extension in the context of IP derivative, which also has practical implications for IP derivatives fundraisers on the crowdfunding platforms.