PledgeMusic was in a UK courtroom yesterday to begin the process of "winding up" the company, the UK equivalent of liquidation of remaining assets. A UK judge has approved the process. Investigation Called For At the hearing, trade group UK Music called for an investigation, pointing out that the court…
Category archives: Crowdfunding
No Bankruptcy, No Refunds, No Liability — PledgeMusic Files Wind Up Order, Absolving Executives of Any and All Wrongdoing
PledgeMusic is pulling a sneaky disappearing act. Aiming to completely disappear into the middle of the night, the crowdfunding platform’s executives shut down the website last week. This came months after PledgeMusic reportedly froze artists’ funds an…
L7 Pledges Legal Action Against PledgeMusic
In an open letter to fans, indie band L7 summarized their own experience and those of other musicians: "in a nutshell, the funds that many bands and their supporters raised through the crowdfunding platform were absconded by the company with zero accountability and unreturned legal appeals." Thanks to help from…
PledgeMusic says "All data has been preserved"
PledgeMusic pulled its web site offline Thursday leaving artists without the ability to access and download previous fan and order data. The shuttered service now says that all data has been preserved and will be made available soon. Overnight this line was added to PledgeMusic’s front page: "All data has…
PledgeMusic Pulls Its Site Down as Artists Remain Unpaid
After warning artists to download their assets, PledgeMusic has pulled the plug. PledgeMusic is now orchestrating the digital equivalent of disappearing in the middle of the night. After freezing its website several months ago and urging artists to ba…
ROCCR Is A Non-Profit, Transparent PledgeMusic
UPDATED: As the effects of the collapse of crowdfunder PledgeMusic rippled through the music community, Iain Baker of UK rock group Jesus Jones was one of its most outspoken critics. Now, Baker has decided to do something about it with the formation of ROCCR. Alongside partners with expertise in tech…
A Legal View Of The Fall Of PledgeMusic and What Could Happen Next
Earlier this week, Hypebot published an important Music Biz Weekly podcast interview with Attorney Chris Castle delving into the demise of PledgeMusic and its legal ramifications for artists, vendors and the music industry. Because of the importance of this topic, we’ve had the full interview transcribed. _________________________________ This transcription of…
Patreon Raises Another $60 Million — and Projects $1 Billion in Creator Payouts by the End of This Year
Patreon has confirmed a new fundraising milestone. Co-founder and CEO Jack Conte announced that the crowdfunding platform has raised $60 million in a Series D funding round. Glade Brook Capital led the funding round. Patreon also welcomed back previou…
Patreon Adds $60M To ‘Take Membership To The Next Level’
Creator subscription platform Patreon has raised an additional $60 million that it says will be used "to take creator memberships to a whole new level." Patreon has more than 3 million active patrons and 100,000 creators on the platform, and has paid out more than $1 billion to date. This…
Inside Bandzoogle’s New Music Crowdfunding Platform with Dave Cool [Music Biz Weekly Podcast]
Dave Cool from Bandzoogle sits down with Michael Brandvold and Jay Gilbert on the Music Biz Weekly Podcast this week to discuss Bandzoogle’s new no fee crowdfunding feature. Dave also offers updates on many of the recent enhancements to the Bandzoogle platform. Built by musicians for musicians, Bandzoogle is an…