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Pledge music has gone broke!

Has anyone placed pledge orders because the bands are advising you wont receive your orders and to go to your credit companies for a refund.

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Permalink Reply by Paul on February 15, 2019 at 3:11pm

Some pledges were 25k to have the band play a show and now everyone has been ripped off!

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Permalink Reply by Paul on February 15, 2019 at 3:23pm

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Permalink Reply by Paul on February 15, 2019 at 3:24pm

Pledge haven't made a statement but the band L7 were seeking legal advice The dandy warhols have posted a few things on Twitter about contacting pledges lawyer to get your money.

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Permalink Reply by Paul on February 28, 2019 at 3:57pm

https://www.wweek.com/music/2019/02/26/dandy-warhols-fans-are-owed-...

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Permalink Reply by Steve Cyrkin, Admin on February 15, 2019 at 3:22pm

Here's a Feb. 1 statement from Pledge on their website:

A Statement from PledgeMusic

To the PledgeMusic community,

The situation that PledgeMusic has found itself in is unacceptable and to all of the artists, managers, labels and fans who have put their trust in us, we are deeply sorry.

All of us at the company are working around the clock to address everybody’s concerns and are hopeful of reaching a positive resolution soon.

To you artists especially, we understand that every last penny is vital to your project’s successful delivery and as such we wanted to share with you some of the concrete action that we have undertaken to date:

Firstly, PledgeMusic is a unique platform with millions of active users and we strongly believe that, notwithstanding our recent problems, PledgeMusic has very significant value.

We are in discussions with several interested parties about a potential partnership with or acquisition of PledgeMusic. These conversations, if successful, would lead to a transaction which would allow us to meet all of our outstanding obligations. As a result, we are hopeful that, as long as the company is given some breathing space to operate, a solution to these current problems will be found.

We cannot reveal further details of these conversations at present as we are bound by commercial sensitivities but as soon as we have any news we will release it.

Secondly, PledgeMusic is in advanced discussions with an independent third-party company to manage all artist funds going forward.

Finally, as previously announced, co-founder Benji Rogers has returned to the company as a volunteer strategic advisor and observer to the board of directors. Benji will assist and advise the new management and finance team on the inherited and existing issues, as well as with the forward planning for the company. His statement is HERE

Benji remains as full time Chief Strategy Officer of DotBlockchain Media.

In closing, the board and management team’s priority remains settling any and all back payments that are owed.

We ask for patience. We know that for a lot of you this must be wearing very thin, but we can only reiterate that we are fully focused on making this situation right.

Sincerely and with thanks,

The PledgeMusic Board and Management.

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Permalink Reply by Paul on February 15, 2019 at 5:27pm

Feb 1 the pledges were going ahead but not anymore the thieving pricks.

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Permalink Reply by Rich on February 15, 2019 at 3:49pm

For all of the interesting merch and opportunities that company seemed to offer, I always found them more than a little bit puzzling. It seemed like their customer service and fulfillment was a bit uneven (perhaps that's being generous).

Some of the things that confused me about their business model was what exactly their angle was. It decidedly wasn't just indie artists or artist exclusives. There were a number of established acts that certainly didn't have any clear reason to need Pledge Music (still signed to major labels, etc). I saw a few instances where a bands merch line from their website was essentially carbon copied over to Pledge, with no exclusives of obvious advantages to ordering through that company as opposed to the band's own web store. I'm guessing that part of the problem, along with bad leadership, was a lack of focus and perhaps biting off more than they could chew.