[UPDATED] Last week, Christopher Moon, developer and President of NoiseTrade announced his resignation: "I recently wrapped up my tenure running NoiseTrade," he wrote in an email. Moon’s departure was the latest in a series of setbacks for the PledgeMusic owned music discovery platform. PledgeMusic acquired NoiseTrade, alongside online performance platform…
Category archives: PledgeMusic
PledgeMusic Leaving More Artists Unpaid
As the gloomy saga of PledgeMusic’s financial failings drags on, more artists are revealing that that the now infamous crowdfunding site failed to provide them with payment. Here we look at some specific numbers from a variety of artists. ____________________________ Guest post by Bobby Owsinski of Music 3.0 Recently I…
Hypebot Crashes The Music Biz Weekly Podcast: Streaming, PledgeMusic, Smart Speakers, More
The big three record labels earning $19 million a day from streaming, the ongoing PledgeMusic tragedy, how smart speakers are changing songwriting and the future of podcasting were all part of a wide ranging discussion between Bruce Houghton of Hypebot and the Skyline Artists Agency and Music Biz Weekly co-hosts…
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…
Sound Royalties Offers PledgeMusic Artists $3M In Low Interest Royalty Advances
Sound Royalties is offering artists stuck without payment from PledgeMusic royalty advances at 4%. The music-focused finance firm is committing up to $3 million to affected musicians. “We care about the impact these issues have had on creatives,” said Sound Royalties Founder and CEO Alex Heiche. “Numerous hard-working bands and…
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…
SEC files charges against PledgeMusic majority shareholder for ‘elaborate microcap stock fraud’
The alleged illegal transactions carried out by Magna Group resulted in fraudulent proceeds of more than $25m
The post SEC files charges against PledgeMusic majority shareholder for ‘elaborate microcap stock fraud’ appeared first on Music B…
PledgeMusic Delivers a New Non-Statement
So, when will PledgeMusic finally pay the money it owes artists? Probably never, it seems, as it takes another step toward closing its doors for good. PledgeMusic has made the same promise to independent artists before. Last summer, the crowdfunding p…
PledgeMusic Issues An Incomplete Update
PledgeMusic issued an update late on Friday, but failed to address the core concerns of artists affected by non-payments and the complete suspension of all crowdfunding campaigns almost two weeks ago. Messaging to fans, which had been experiencing some problems, was again operational as is the ability to download of…
PledgeMusic Shutdown Continues
The suspension of all music crowdfunding campaigns on PledgeMusic continued Tuesday, six days after they began. The company has been silent since last week, leaving thousands of musicians in the dark and in many cases, owed tens of thousands of dollars in funds pledged by fans. Attempts to contribute to…