Citing a new report by the New York Times, the Times said that “in the last year, there have been more than $1.3 billion raised by crowdfunding campaigns to support the arts, bringing the total to $4.7 billion” and that the “industry is increasingly seeing its success replicated across other sectors, including healthcare and education.”
“As a result, the industry has emerged as a powerful force in the U.S. and beyond,” the Times added.
“But as it is now a national trend, it can be difficult to see how it can sustain its growth.”
In response to the Times article, a representative for the crowdfunding site CrowdFunding.com told Ars that the company had received “no response” to the article.
The spokesperson added that the site’s website had been updated to reflect the new information, and that “we’ve made significant improvements” to address the article’s inaccuracies.
However, according to the spokesperson, CrowdFund was “reviewing” the article to determine whether it was accurate.
In response, Ars contacted the Times to ask about the company’s response.
We received no response to our questions by press time.
Ars will update this article if the company responds.