Idols that You Decide: Understanding the Phenomenon and Practices of Fan-Idol Crowdfunding

22 Pages Posted: 11 May 2021

See all articles by Ye Wang

Ye Wang

ETH Zürich - Department of Information Technology and Electrical Engineering

Hantao Zhao

Southeast University

Zhicong Lu

City University of Hong Kong (CityU)

Roger Wattenhofer

ETH Zürich - Department of Information Technology and Electrical Engineering

Date Written: May 10, 2021

Abstract

Fan-idol crowdfunding is an online fandom activity in which fans raise money for their idols (e.g., pop stars, movie stars, entertainers, etc.) without any involvement of the idols themselves and their agencies. A great number of crowdfunding campaigns are held every day online, among which one single event can raise up to 2 million dollars. The fund is used to vote, promote, and purchase gifts for their idols and conduct commercial activities.
To better understand how fan communities are motivated to create and fund these projects, we conduct a mixed-methods study, including crowdfunding observations, interviews, and quantitative crowdfunding data analysis.
We find that fundraisers and supporters share similar motivations to raise funds, such as resource integration, positive feedback, collective activities, and community engagement.
Because there is no direct contact between fundraisers and beneficiaries, follow-up auditing has been introduced to make the crowdfunding process more transparent.
We discuss the uniqueness of fan-idol crowdfunding compared to commercial crowdfunding and philanthropic crowdfunding. Relationships between fundraisers and supporters and their benefits are the most significant differences, influencing how fan communities use crowdfunding services. Moreover, gamification designs (e.g., encouragement of competition, cooperation) incentivize supporters' intention in crowdfunding.
We also consider the controversies of this new form of crowdfunding for both fans and idols.

Suggested Citation

Wang, Ye and Zhao, Hantao and Lu, Zhicong and Wattenhofer, Roger, Idols that You Decide: Understanding the Phenomenon and Practices of Fan-Idol Crowdfunding (May 10, 2021). Available at SSRN: https://ssrn.com/abstract=3843034 or http://dx.doi.org/10.2139/ssrn.3843034

Ye Wang (Contact Author)

ETH Zürich - Department of Information Technology and Electrical Engineering ( email )

8092 Zürich
Switzerland

Hantao Zhao

Southeast University ( email )

Sipailou 2#
Nanjing, Jiangsu Province 210096
China

Zhicong Lu

City University of Hong Kong (CityU) ( email )

83 Tat Chee Avenue
Kowloon
Hong Kong

Roger Wattenhofer

ETH Zürich - Department of Information Technology and Electrical Engineering ( email )

8092 Zürich
Switzerland

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