An analysis on the historical data of various theater-based Kickstarter campaigns in order to identify and compile corelating factors; providing insight into which ones have been successful.
To enable our client to set realistic target goals and determine the most appropriate time to execute their campaign.
In order to create an appropriate overview based on the information provided, we have corelated several factors against the success rate of productions.
Utilizing launch date information combined with the success rate of various productions, we have been able to identify specific trends relating to the time of year a production was launched. The data suggests that productions launched during May and June had a higher rate of success. The volume of campaigns were greater during this time period with the success rate of 67%, 17% higher than the lowest success rate of 49% in December. Visually the success rate in October had an uptick but there was also a greater uptick in failed campaigns resulting in only 56% of campaigns being successful. Graphing the volumetric ratio of successful and failed campaigns would provide another level of insight, however May and June had success rates of 66% and 65% respectively so the data suggests the is an advantage to these time periods for launch.
The resulting analysis matches the overall success patterns for all categories of Kickstarter campaigns with May having the highest success rate with all categories factored in.
The average success rate was 60% for plays that year. There are many factors that can affect a successful campaign, isolating specific variables can provide insight, however by eliminating data points our ability to provide accurate assumptions based on the data could be challenged. We can conclude that positioning your launch date to capture the increased interest in funding campaigns during the spring would have a quantitative advantage.
Utilizing the goal data from the campaigns across increments of ~$5000 enables us to see if there are any trends relating to the requested amounts and people’s willingness to fund them. Campaigns with goals under $5000 faired the best with a 76% success rate in the $1000-$4999 bracket and 80% for campaigns with goals under $1000. Campaigns with goals set between $35000 to $44999 saw an uptick in success rates resulting in a 67% success rate across the two brackets. The volume of campaigns was significantly higher in the sub $5000 dollar range. We can see an increased success percentage in the $35000-$44999 goal categories, although there was a significantly lower number of campaigns and the volume does not provide conclusive evidence that these trends would be consistent year to year. The most reliable assumption based on the data provided would suggest that maintaining a target goal under $5000 would give your production a higher likelihood of success.
The small size of the data set limits our ability to find anomalies within the data. The data does not included the methods in which these campaigns were marketed which makes it difficult to make direct comparisons. There is valuable insight contained within the failed campaigns which could be explored further.
We can conclude that May had the highest number of successful campaigns and the highest volume of total campaigns.
We can conclude that goals of under $5000 had the greatest chance of success. The increased success rate in the $35000-$44999 goal category is based on a small volume and appears to be atypical.
This dataset has some limitations, primarily the small size of the data set makes it difficult to isolate anomalies.
To gain additional insight we could compare success rate not only based on the months, but also the year of production. The length of the campaign could also play a significant factor in determine which ones were successful. In addition to this, graphing the amount and quantity of donations would enable us to gain insight from both successful and failed campaigns.
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