Crowdfunding Achievement and Goal Quantity
Every crowdfunding project launched in Qrates has a minimum number of pledges it needs to achieve within a campaign period to proceed to vinyl production. We usually call this necessary number of pledges goal quantity and appears as achievement on a crowdfunding project page.
Pledges can go beyond the initial set goal quantity as long the campaign is ongoing. After a successful campaign, the total number of collected pledges (with complete payment) will be the total quantity of pressed and delivered records to all campaign backers.
Setting the goal quantity or achievement affects the overall revenue and pressing cost of a crowdfunding project. Of course, setting a larger achievement means higher revenue. However, crowdfunding projects can fail when the minimum amount of pledges is not achieved.
If you are a new artist and just launching your first crowdfunding project with us, we suggest setting your achievement or goal quantity at a minimum of 100 records. We also offer the option of self-purchasing your records to aid you in reaching your achievement. Checking the predicted profit of a crowdfunding project is possible in Qrates Studio.
Related articles:
What happens if a crowdfunding project fails?
What happens if the crowdfunding project I backed doesn't reach its goal?
What is the self-purchase option?
