Last October, Kickstarter announced that it was ending its crowdfunding platform by subscribers, Drip, but that he planned to succeed Andy Baio and Andy McMillan, creators of the festival XOXO. Now this project has been stopped, According to its creators.
The anonymous Drip successor project aimed to bring "financial stability and transparency to independent artists". It was born from the conversations of Kickstarter founder Perry Chen and Baio, Kickstarter's former chief technology officer, with the goal of migrating the creators of Drip before closing them later. this year. Kickstarter has provided seed funding for the new platform. Baio and McMillan had then hired people to develop and run the business, but explained that while the concept was a good idea, they "could not find a way to make the business viable."
The problem seems to be related to how to generate income in a stable and reliable way. The two men explored several options: "voluntary user subscriptions, premium features, increased fees," but continued to find that "the resources needed to support a large number of low-volume creators always exceeded our income ".
"We were determined to turn to sustainable and independent businesses, and even though we had chosen the traditional way and raised capital, it did not seem to survive once the funding was exhausted. community that was important to us and many artists and creators in our community are already financially vulnerable and vulnerable.The idea of launching something with so much uncertainty and risk was irresponsible and unfair. "
Baio and McMillan said that they had ended up closing the project last month and that they were going to return the remaining start-up funds to Kickstarter. The closing of Drip seems to be on the right track: they say that they will help the creators staying on the platform to migrate to others.
This is a shame because they describe what they planned to be particularly attractive: a subscription platform focused on new and marginalized artists, discoveries and personalized recommendations and community moderation tools.
Updated June 15, 3:40 pm ET: Updated to clarify that Kickstarter only provided project funding: the development of the platform had not been taken into account.