Crowdfunding is set to generate more income than any one charity by 2019 according to charity-based platform JustGiving.
The platform’s chief marketing officer, Charles Wells, made the claim whilst speaking at the Institute of Technology’s conference in London last week.
He discussed the trend towards the use of crowdfunding charity platforms like JustGiving has been driven by the younger generation – a demographic that traditional charities are struggling to engage with.
“It’s not because they don’t care, it’s not that they don’t give, it’s just that the way you ask and the way they respond has been completely disrupted. They want to give on impulse when a cause touches their heart. It is a short window above a caring threshold. They want to be able to give frictionlessly. They want to see the impact of their money and feel the juicy emotional reward of having changed a life,” said Wells.
He went on to say that crowdfunding shouldn’t be underestimated and predicted that the sector would be worth £150 million this year and then double that in 2018.