Crowdfunding Music and the Democratization of Economic and Social Capital

Abstract

Background Does crowdfunding democratize access to economic and social capital for musicians? This article discusses inequality in the distribution of economic and social capital, drawing on the concept of “networked governance.” Analysis The article examines the ways in which crowdfunding distributes economic and social capital, drawing on a content analysis of Kickstarter profiles in the music category as well as surveys and interviews of Kickstarter users, policymakers, and music industry representatives. Conclusion and implications The article concludes that Kickstarter’s successes in democratizing economic and social capital for users are modest. The networked governance of cultural funding facilitates the appropriation of economic and social capital by Kickstarter’s owners, deepening, rather than ameliorating, the inequalities of cultural production.