Report: Two-thirds of Kickstarter projects have yet to deliver
According to research unveiled earlier this month from Evil as a Hobby, video game Kickstarter projects have shown a delivery rate of 37 percent. The findings are a result of manual data collection during the turn of the new year of 366 total successful projects funded from 2009 through 2012, all of which was divulged in a separate post on the site.
The data set notes that 357 successfully-funded projects were due for release before January 2014, of which 2.8 percent were formally canceled by their creators and an additional 2.2 percent were formally listed as "on hiatus." Interestingly enough, those rates decreased year-over-year, with the cancellation rate of 2012's 262 projects set at just 1.9 percent. Evil as a Hobby found that the monetary value of the 119 delivered projects amounts to $16,879,712, which compared to that of the 149 as-yet-undelivered projects: $21,964,861.
It's important to keep in mind that 58 percent of the projects are ongoing; each may still deliver to their respective backers. So, the 37 percent delivery rate ultimately denotes the rate at which developers are missing their initial deadlines, which may not be all that uncommon in the gaming space. Steadily decreasing failure and cancellation rates do indicate a maturation of the crowdfunding space as it relates to video games, a growth seen in our own Crowdfund Bookie's findings. During a six-month period in 2013, 186 video game projects on Kickstarter and Indiegogo earned over $23 million collectively.
[Image: Evil as a Hobby]
