Crowdfunding in Opera (Case Study): The Value of Specificity and Transparency in Fundraising for Creative Endeavors

Back in 2006, a Scottish opera needed to supplement its funding, and launched a Sponsor-A-Character campaign as an experiment.  

Experiment:

Contributors were offered the chance to sponsor individual characters for contributions ranging from £25 to £5,000.  For their contributions, people were given credits in the Opera's program next to their sponsored characters.  They were also invited to an on-stage party to meet the cast.

Results:

Such creativity in fan involvement generated 4X the amount in funds they needed.  

Excerpt from "The Independent":

"'We started out looking for £10,000 or £11,000 and ended up raising £44,000, which is absolutely amazing,' said Jane Nicolson, a spokeswoman for Scottish Opera."

Take-Aways:

Why did it work?

• Specificity: every dollar contributed had a specific use of funds - to support an individual character in the opera. Contributors knew exactly where their money was going, and didn't have to wonder if their contribution made a difference or not.  For example, for filmmakers: asking for $500 to pay for the music rights of a song in a film is a much more attractive call to action than asking for $500 to help cover the costs of making a movie.  Or for writers: asking for $500 to enable you to pay for an editor is more enticing than helping you cover your budget.  Just imagine your contributors at a cocktail party talking about how their patronage helped bring your project to life. For the film example, who will sound cooler?:  The gal who says: "I purchased the music rights for XYZ film so they could premiere at ABC festival" or the guy who says "I gave some money to a film."    
• Transparency and Follow-Through on VIP Perks: Contributors received in-program credits and got to go to the cast party.  Little does a better job in building fan loyalty than doing what you say you you're going to do.  It's that simple.  

  

Excerpt from "The Independent" on the value of the opera's Sponsor-A-Character effort:

"Catriona Reynolds, the head of fund-raising for Scottish Opera, said: 'The scheme made us realise that people like to get involved and see tangible evidence of how their money is being spent. Hopefully we will find other operas we can do this with.'"

This case study shows that the "Sponsor - A - [fill in the blank]" tactic is a great approach for your project's VIP Perks strategy.  For more creative ideas for VIP Perks, check out  Want ideas for VIP Perks?  Listen to Nine Inch Nail's former drummer.

For More:

Also, check out "The Independent's" full article on this opera's creative effort: Opera Funds Cast of 60 with 'Sponsor a Character' Scheme.