Crowdfunding thus becomes the financial ofshoot of crowdsourcing (Rouzé, Matthews and Vachet 2014; Lebraty and Lobre-Lebraty 2015) The aim is not just to invite ‘amateurs’ to produce content, but more generally to encourage them to ofer financial backing to whatever they are passionate about, supporting projects run by their friends or which they believe in (a phenomenon sometimes called ‘love money’). In this way, the financial aspect of the arrangement disappears, and the participative, afective and experiential dimension takes centre stage.
But other researchers claim that, while crowdfunding may be descended from crowdsourcing, it is a distinct phenomenon. According to Belleflamme, Lambert and Schweinbacher (2014), its primary aim is to optimize the flow of information between manufacturers and consumers, particularly by allowing the collection of consumer data, so that crowdfunding platforms can serve as tools for evaluating the quality of goods and services for prospective consumers. Ultimately, they see such platforms as promotional and marketing tools in both business-to-business and business-to-consumer markets: Crowdfunding can be seen as a concept that goes beyond simple fundraising: it is a way of developing industrial activities through the process of financing (Belleflamme, Lambert and Schweinbacher 2014: 586). For others, the diference between crowdfunding and crowdsourcing is related to collaboration: in crowdsourcing, participants influence content; in crowdfunding, they never do.
This brief etymological and epistemic detour allows us to discern the main issues related to crowdfunding platforms. First of all, the protean logic of crowdsourcing is answered by the segmented logic of crowdfunding, as well as the importance of logics of outsourcing and gearing responses to a strategic demand produced by the greatest number. Far from the logic of the ‘commons the term initially flirted with, most players think of crowdfunding in terms of eficiency and the experience of the citizen/social actor. This paves the way for the development of its financial aspect, which combines the outsourcing of content production with the outsourcing of modes of financing, the reduction of risk on the part of consumers/investors, and the development of devolved modes of labour.
Crowdfunding: A Revolution?
Given the above definitions, it is intriguing how often crowdfunding is described as revolutionary. In 2013, the French website Mediapart published an article titled ‘What Is Crowdfunding and Why is it Revolutionary?’2 In the same year, a book appeared with the title The Crowdfunding Revolution: Social Networking Meets Venture Financing (Lawton and Marom 2013). A few years later, an article in Forbes declared that ‘Santander Joins the Crowdfunding Revolution’.3
Crowdsourcing and Crowdfunding: The Origins of a New System?
19