PledgeMusic Suspends Contributions on Almost all Active Crowdfunding Campaigns Till Further Notice

7153
Pledge Music - Music Industry Weekly

PledgeMusic introduced it would suspend accepting efforts to its active crowdfunding and presale campaigns upon Wednesday (Feb. 6) till further notice.

In an email delivered to its artist community, the particular direct-to-fan service said this decided the action will be “appropriate” in light of a declaration last week asking for “patience” plus “breathing space” as it explores relationships and acquisitions . The business has had problems paying performers over the past year, with the concern coming to a head during the last month. Based on Billboard ‘s confirming, acts are owed everything from $50-$100, 000 gained from fans’ contributions in order to campaigns on the service.

PledgeMusic has not taken care of immediately Billboard ‘s direct questions plus said in a statement it had been bound by “commercial sensitivities” that prevented it through revealing further details of the partnership and acquisition discussions. It has told artists excellent payments would be brought up up to now within the next 90 days.

“We are working around the clock to solve the issues at hand and will return to you as soon as we can by having an update, ” the declaration continued.

“We are deeply sorry for virtually every difficulties that this brings and may assure you that we performing everything in our power to obtain things back on track. inch