PledgeMusic co-founder and former CEO Benji Rogers penned an open letter after it was announced that the troubled crowdfunder would be filling for bankruptcy. "I went back into PledgeMusic just over three months ago as a volunteer to try and help the board and team turn around and sell the…
Category archives: PledgeMusic
PledgeMusic To Enter Administration As Sale Falls Through
A prospective sale of PledgeMusic has fallen through, and the company will enter administration, the UK equivalent of bankruptcy, sources with direct knowledge of the situation tell Hypebot. UK based corporate advisory FRP will be nominated to administer a court directed sale of all assets, which would be used to…
PledgeMusic Enters Pre-Administration As Buyer Deliberates
PledgeMusic.com Limited is in pre-administration, the UK version of a pre-bankruptcy, sale or reorganization, sources tell Hypebot. But as we previously reported, there is also still an active potential buyer. A confidential email leaked by DMN, which purports to offers potential buyers a look at PledgeMusic’s assets and financials, only…
Game Over for PledgeMusic — Leaked E-mail Reveals Pre-Liquidation Fire Sale Set to Begin
A leaked e-mail has revealed that PledgeMusic has laid off its staff and won’t ever pay back artists. So, how did it come to this? For nearly a year, failed British crowdfunding platform PledgeMusic has promised to pay back the hundreds of thousands it…
REWIND: The New Music Industry’s Week In Review
Just in case you missed something the first time around, we’re taking a moment to look back on another full week of music industry news, revisiting a big Record Store Day for vinyl, the somewhat surprising top ten global artists, the arrival of Beyoncé’s ‘Lemonade’ on Spotify, three years after…
Paste Media Group Purchases NoiseTrade from Failed Platform PledgeMusic
No, the NoiseTrade purchase doesn’t mean artists will finally get their money from PledgeMusic. You know the story by now. Last year, British crowdfunding platform PledgeMusic withheld payments to artists and bands. Blaming a ‘transition in payment pla…
PledgeMusic’s Noisetrade Acquired By Paste Media Group [OFFICIAL]
UPDATED: Paste has acquired music and book discovery platform Noisetrade from PledgeMusic. Paste Media Group controls Paste magazine and live music sessions site Daytrotter. Update + Free Music This story has been updated to reflect the official announcement and Paste Media Group’s status as an independent company. Also, from the…
There Is Still Active Interest In Acquiring PledgeMusic
The sale of PledgeMusic is still an active possibility, multiple sources tell Hypebot. Several people with direct knowledge of the situation reached out after we published the concerns of hopeful musicians that emails they received from the crowdfunder touting "negotiations the board is having with a potential buyer" were empty…
REWIND: The New Music Industry’s Week In Review
In this flip back through the past week’s music industry news, we revisit the play gap in men’s vs. women’s performance on the charts, Spotify’s impressive showing over other streamers when it comes to installs, how Billie Eilish and her brother are redefining pop music from a tiny bedroom studio,…
PledgeMusic Sale Appears To Be Another Empty Promise
Last week, we reported that some artists affected by the demise of PledgeMusic became hopeful they would be made whole after receiving emails touting "negotiations the board is having with a potential buyer." It now appears that is was just the latest in a series of empty promises from the…