PledgeMusic
≈ 2 min read
Names in other languages
- EnglishPledgeMusic
- EspañolPledgeMusic
- FrançaisPledgeMusic
- gaPledgeMusic
- עבריתפלדג'מיוזיק
- 日本語プレッジミュージック
Article bodies are English and are not machine-translated. A name in another language is not a translation of the article.
PledgeMusic was an online direct-to-fan music platform, launched in August 2009. It was started to facilitate musicians looking to pre-sell, market, and distribute projects, such as recordings and concerts. It bore similarities to other artist payment platforms as ArtistShare, Kickstarter, Indiegogo, Patreon, RocketHub and Sellaband. The company announced it was facing bankruptcy in May 2019, after a year of artists reporting slow payment problems. The company was granted permission to wind up on 19 August 2019.
PledgeMusic was an online direct-to-fan music platform, launched in August 2009. It was started to facilitate musicians looking to pre-sell, market, and distribute projects, such as recordings and concerts. It bore similarities to other artist payment platforms as ArtistShare, Kickstarter, Indiegogo, Patreon, RocketHub and Sellaband. The company announced it was facing bankruptcy in May 2019, after a year of artists reporting slow payment problems. The company was granted permission to wind up on 19 August 2019.
Aftermath of insolvency and liquidation
PledgeMusic went bankrupt before John Zorn and hundreds of other artists were paid money owed via campaign pledges. In November 2019, Failure frontman Ken Andrews alleged PledgeMusic owed them $75,000 from their 2018 album campaign. Andrews further claimed that former CEO Dominic Pandiscia changed the company's policy of ring-fencing artists' money in 2016. Pandiscia denied the claims and mentioned considering legal action against Andrews. In March 2020, the BBC reported that the band CC Smugglers lost £20,000 when PledgeMusic went bankrupt. It also stated the Insolvency Service was still investigating the company's insolvency. By September 2021, a startup direct-to-fan site, Sonicly, had hired Benji Rogers as a consultant, in an attempt to avoid making similar mistakes as PledgeMusic. Sonicly plans not to hold any funds paid by fans; instead artists will be paid directly via Square.
Text derived from https://en.wikipedia.org/w/index.php?oldid=1376122678 under CC BY-SA 4.0; modifications have been made.