For years, crowdfunding has been a bit like the Wild West of finance. But as the industry continues to grow, state and federal authorities are catching up to abusers of the system.
Category archives: Crowdfunding
Michael Jackson’s Nephew Launches GoFundMe Page to Produce New Documentary Protecting His Uncle
The pro-Michael Jackson documentary petition remains well, well short of its fundraising goal. In Leaving Neverland, two men, Wade Robson and James Safechuck, share their experience with Jackson as children. In the explosive documentary, both men, now …
Begging the Public for Help, Iconic Hip-Hop Reporter Dee Barnes Faces Homelessness
Desperate for help, Dee Barnes’ GoFundMe page has now surpassed its $5,000 goal. Nineteen years ago, Dee Barnes, a hip-hop reporter and former TV host, portrayed Dr. Dre and N.W.A. in a negative light. She ran a segment about the popular rap group on F…
PledgeMusic Update: Millions Owed, Buyer Interest, Noisetrade Co-Founders Unpaid
At least one potential buyer is taking a serious look at acquiring debt ridden PledgeMusic, according to new reports. Unable to pay funds due artists and labels, PledgeMusic suspended all crowdfunding campaigns in early February, and has been operating with a skeleton staff since. A potential buyer is “very interested”…
Patreon Raises Some Prices, Reports 100K Creators Earn $500M Yearly
[UPDATED] Patreon has added new tier pricing which mean higher fees for many new creators using the fan funding platform. To take advantage of the lower grandfathered rates, creators must Patreon in the next few weeks before the new rates hit in early May. 3 million fans now pay 100,000…
Patreon Increases Its Percentage Cut, But Introduces New Tiers and Grandfathers Existing Creators
Patreon has become the primary choice for digital content creators to get paid by fans, but the 5% fee has proved untenable for many. The company has been careful about changes to its pricing and fee structure in the past, after facing swift backlashes…
As PledgeMusic Continues to Implode, Co-Founder Benji Rogers Mysterious ‘Steps Down’ from Another Company He Co-Founded
PledgeMusic continues inching toward its ultimate demise. But, once it shuts down for good, will executives like Benji Rogers take the remaining cash and simply run? So, when will PledgeMusic finally pay the money it owes artists and fans? Probably ne…
Queensrÿche Says PledgeMusic Owes Them $70,000 — Oh, and Here’s the Number for PledgeMusic’s Attorney
The stink surrounding PledgeMusic continues to grow. But at least we have the number for their attorney. How much is PledgeMusic’s meltdown costing artists and their fans? Earlier this year, electro-industrial band ohGR claimed that PledgeMusic was wi…
3 Weeks After PledgeMusic Suspended Campaigns, Hundreds Of Artists Still Unpaid
On Wednesday February 6th, PledgeMusic sent an email to all artists with active crowdfunding campaigns suspending them immediately. The move same after months of late payments and non-payments to artists. Three weeks later, all campaigns remain suspended and hundreds of artist’s left unpaid. The crowdfunding platforms last update, which contained…
The PledgeMusic Debacle [Iain Baker of Jesus Jones]
In this piece Iain Baker breaks down the dismal PledgeMusic situation, reflecting on how the current crisis is reminiscent of similar incidents in the history of the music industry, as well as speculating on the somewhat bleak future of the platform. ________________________________ Guest post by Iain Baker of Jesus Jones…