Nineteenth International Conference on Environmental, Cultural, Economic & Social Sustainability

Abstract

The objective of this paper is to find the factors influencing the behavioral intention of users on a Spanish reward-based crowdfunding platform within the musical production sector. To this end, we developed a questionnaire that was distributed online among users of the Verkami platform, obtaining 78 observations from music promoters who used this platform as a means of financing their projects. Based on the data obtained, the extended theory of Acceptance and Use of Technology (UTAUT2) was used to analyse the users’ experiences with the aim of determining the factors that could influence the behavioral intention of rewards–based crowdfunding platforms by promoters of music projects. The main findings suggest that performance expectancy, social influence, and hedonic motivation of platform users have a significant impact on behavioral intention. Secondary findings indicate that the perception of quality and security are key drivers of the trust of users in the platform. In light of these considerations, our research makes an important contribution to the knowledge of the experiences in use and sustainability of crowdfunding platforms from the perspective of the entrepreneurs of music project. The results obtained present new findings on previous research, providing useful knowledge for users and managers of reward-based crowdfunding platforms. It is also useful for public decision-makers in the field of culture and arts promotion, who can see the importance of this type of crowdfunding tools and thus collaborate to foster them.

Presenters

María Dolores Oliver Alfonso
Financial Lecturer, Departamento de Economía Financiera y Dirección de Operaciones, University of Seville (Spain), Sevilla, Spain

Cinta Borrero Domínguez
University of Seville