Two copies of a PledgeMusic presentation apparently designed to attract investors show that the crowdfunder lost nearly $11 million dollars between 2016 and 2018, despite generating more than $77 million in revenue during the same period. Weird Al Yankovic sold $1.45 million worth of music and merchandise using the platform,…
Category archives: PledgeMusic
If You Ever Ran Or Contributed To A PledgeMusic Campaign DO THIS NOW!
With PledgeMusic entering the UK equivalent of bankruptcy and calls for an investigation intensifying, the future of all of the data stored on the platform is seriously in doubt. Whether you are an artist who used the platform to raise funds or a fan who contributed to a campaign, you…
What The Fall Of PledgeMusic Means For Artists [Music Biz Weekly Podcast]
With the news that crowdfunding platform PledgeMusic is entering Administration, the UK equivalent of bankruptcy, music marketing veterans Michael Brandvold and Jay Gilbert of the Music Biz Weekly podcast explore what went wrong, was it means for artists and the future of music crowdfunding.
PledgeMusic Story Is Starting To Sound Like A Broken Record says Bandzoogle’s Dave Cool
The demise of PledgeMusic and the hundreds of musicians left in its wake are a sadly familiar story for music industry veteran Dave Cool of Bandzoogle. "The company takes on millions in investment to support rapid growth," writes Cool. "Flashy headlines ensue." But when things fall apart, too often it’s…
This Week In Music Commentary
This week in music commentary, the industry as a whole calls for investigation of PledgeMusic, the ex-CEO of the company issues a letter of apology, UK musicians air their feelings on Brexit, and more! Industry Calls For Gov’t Investigation Of PledgeMusic As Crowdfunder Enters Administration Ex-PledgeMusic CEO Benji Rogers Pens…
TOP POSTS: This Week’s Most Read Posts On Hypebot
This week, some of Hypebot’s most popular, chart-topping articles covered the music industry’s reaction to PledgeMusic’s bankruptcy, the growing rift between Spotify and the rest of the music business, some impressive new numbers on the earnings of DIY artists, and more! Artists, Music Industry React To PledgeMusic Bankruptcy Tough Love:…
UK Music’s Top Boss Pushes for Watchdog to Investigate PledgeMusic
Several days ago, and confirming a report first leaked on Digital Music News, PledgeMusic confirmed it will now go under. In a ‘heartfelt’ letter, co-founder Benji Rogers admitted the embattled British crowdfunding platform stole used artists’ money to…
UK Music industry demands Government investigation into ‘collapse of PledgeMusic’
UK Music CEO Michael Dugher calls for firm to be referred to UK’s Competition and Markets Authority
The post UK Music industry demands Government investigation into ‘collapse of PledgeMusic’ appeared first on Music Business Worldwide.
Industry Calls For Gov’t Investigation Of PledgeMusic As Crowdfunder Enters Administration
UPDATED: UK Music CEO Michael Dugher is leading a music industry campaign demanding that Small Business and Consumer Minister Kelly Tolhurst refer PledgeMusic to watchdogs at the UK’s Competition and Markets Authority. UK based PledgeMusic is entering Administration, the UK equivalent of bankruptcy. The company suspended all crowdfunding campaigns on…
PledgeMusic fails to find buyer, heads for administration
Co-founder Benji Rogers confirms demise of crowdfunding platform
The post PledgeMusic fails to find buyer, heads for administration appeared first on Music Business Worldwide.