KEA, together with ArtExpert, has published a new study for the Observatoire des politiques culturelles (OPC) of the Fédération Wallonie-Bruxelles: Le financement participatif en ligne dans le secteur culturel en Fédération Wallonie-Bruxelles (OPC Études n°21, October 2026).

It is the first systematic measurement of crowdfunding in the cultural and creative sectors of the FW-B, covering 2019 to 2024. The research combines a literature review, a quantitative analysis of 1,971 campaigns collected from nine platforms, about ten interviews, five case studies and a focus group with project holders.

A modest but efficient market

Over the period, cultural crowdfunding in the FW-B raised about €13.6 million from more than 203,000 individual contributions. The average campaign raises about €7,500 against a target of €5,404, and 86% of projects meet or beat their goal. These results are above global averages.

The market is also highly concentrated:

• Ulule, KissKissBankBank and Kickstarter capture 82% of funds raised. None of them is based in Belgium.
• Publishing accounts for 46% of projects and 34% of funds. Video games make up only 8% of projects but 23% of funds.
• Performing arts, audiovisual and heritage projects lag behind, with much smaller overfunding margins.
• The Brussels-Capital Region accounts for 59% of projects.
• 53% of campaigns raise less than €5,000.

Between necessity and strategy

Interviews show that crowdfunding works both as a stopgap for gaps and delays in public funding and as a deliberate way to build a community and protect artistic independence. It is mostly used by emerging artists running individual projects, like recording an album or publishing a book, more than by established institutions. Success depends heavily on the creator’s existing network (“love money”) and comes at a high human cost: it takes a lot of time, causes stress and sometimes requires personal funds. Investment models such as crowdequity and crowdlending remain largely unused, except in audiovisual.

Recommendations

The study proposes ways to make crowdfunding complement public funding instead of replacing it:

1. A coordinated entry point for information and support on cultural financing, with tailored guidance for small projects.
2. A dedicated culture matchfunding fund that uses public money to bring in private contributions.
3. Support for Belgian platforms, for example by covering part of their commissions or funding their visibility.
4. A pooled FW-B model inspired by Namur’s Cilo platform, which reinvests its commission as co-funding.
5. A “tax receipt for all” scheme, where an approved intermediary collects donations and issues tax-deductibility certificates.
6. Training on crowdfunding, corporate sponsorship and community management in arts schools.
7. Encouraging the Ulule group to open a local office in Brussels.