Abstract

Crowdfunding markets are gaining prominence worldwide. This paper examines the impact of high-profile projects on the influx of new projects on Reward-Based Crowdfunding (RBC) platforms. Utilizing data from 184,537 projects launched between 2014 and 2022 on Kickstarter, a leading RBC platform, we explore how high-profile projects influence the strategic decisions of contemporary creators in terms of initiating new projects. We employ a difference-in-differences (DID) model and find that high-profile projects have a significant impact on the influx of new projects. Our findings suggest that the presence of high-profile projects can positively affect the dynamics of project creation on RBC platforms, potentially guiding platform management strategies and influencing creator decisions in competitive crowdfunding environments.

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