Typology of esports crowdfunding investors

Abstract

PurposeOnline fundraising has become a rapidly growing alternative business financing method for esports. Despite this, a lack of attention has been given to its fans' motivations for participating in crowdfunding (CF) projects or behavioral intentions for spectatorship. To address this, the present study (1) categorizes esport CF investors' motivations based on the big five personality traits and (2) compares whether motivations and behavioral intentions for esports spectatorships vary depending on each group.Design/methodology/approachWe applied K-means clustering analysis to classify investors. ANOVA was used to verify whether there were differences in CF motivations and behavioral intentions.FindingsThe study identified six distinct investor segments. Overall, esports CF investors showed high agreeableness and conscientiousness with low neuroticism. Fanatic fans were the most motivated and had the highest spectatorship intentions, driven by strong openness. In contrast, recognition seekers and charity donors exhibited the lowest viewing intentions. Entertainment seekers were highly motivated by excitement and aesthetics, linking CF participation to a strong desire to watch events. Despite higher neuroticism, reward hunters also showed significant viewing intentions, driven by drama and aesthetics. These findings highlight the diverse motivations and their influence on esports spectatorship.Originality/valueThis study investigates the motivations and behavioral intentions of CF investors and spectatorship, which has substantive theoretical and managerial implications for the business of esports.