Suvarna Garge (Editor)

PledgeMusic

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Slogan(s)
  
Music As It Happens

Website
  
http://www.pledgemusic.com/

PledgeMusic is an online direct-to-fan music platform, launched in August 2009, that facilitates musicians reaching out to their fanbase (termed Pledgers) to pre-sell, market, and distribute music projects including recordings, music videos, and concerts. Broadly speaking it bears some similarities to such platforms as ArtistShare, Kickstarter, Indiegogo, Patreon, RocketHub and Sellaband.

Contents

Features

PledgeMusic considers itself a direct-to-fan platform as opposed to a crowdfunding website. Features of PledgeMusic that distinguish it from other crowdfunding systems include that it:

  • is solely focused on raising funds for musicians
  • does not retain any ownership or rights to any music created through the platform
  • encourages artists to include contributions to charity as part of their fundraising project
  • absorbs all transaction processing costs involved in pledging on a project
  • encourages artists to offer a wide range of incentives and exclusive content to pledgers
  • does not process any funding transactions until the funding target is reached
  • is international, accepting artists, projects and pledgers from all over the world
  • allows pledger refunds

    • PledgeMusic allows two distinct types of campaigns: direct-to-fan and preorder. In direct-to-fan campaigns, fans are not charged until the project target is reached, at which point money is collected in an "artist account" that holds the money for disbursement to the intended recipients. If a target is not reached, fans are not charged. In preorder campaigns, fans are charged immediately, and the artist is paid directly upon project completion, much like traditional online retail.

    Success Rate

    PledgeMusic is reported to have a 90% campaign success rate (higher than Kickstarter or Indiegogo), with most artists raising an average 140% of their goal.

    In the Charts

    Various PledgeMusic albums have achieved significant chart success, including:

  • Stiff Little Fingers - No Going Back - #1 in UK Rock Album Charts - #28 in UK Album Charts
  • Ginger Wildheart - 100% - #27 in the UK
  • Charlie Simpson - When We Were Lions - #6 in the UK
  • Ben Folds Five - The Sound Of The Life Of The Mind - #10 on the Billboard Top 200
  • The Subways - Money and Celebrity - #16 in Germany, #43 in the UK
  • Bring Me The Horizon - Sempiternal - #3 in the UK, #1 in Australia
  • Lindsey Stirling - Shatter Me - #2 on the Billboard Top 200, #1 in both Classical and EDM
  • Sevendust - Time Travelers and Bonfires - #19 in the US
  • Kate Miller-Heidke - O Vertigo! - #3 in Australia
  • 311 - STEREOLITHIC - #6 on the Billboard Top 200
  • Mindi Abair - #1 on the Billboard Jazz chart
  • Casey Crescenzo - #2 on the Billboard Classical chart
  • The Puppini Sisters - The High Life - #1 debut on the UK iTunes Jazz Chart, #3 debut US iTunes Jazz Chart

    • More than 30 PledgeMusic artists have been subsequently signed to major or independent label recording contracts.

    Charity

    PledgeMusic artists have the option of donating a percentage of their total or post-goal revenue to a charity of their choice. Currently, 67% of projects are linked with a charity. Artists without a cause in mind are able to meet with the company's charity outreach specialist to pair them up with charities.

    Affiliated companies and partnerships

    PledgeMusic Recordings and PledgeMusic Publishing are both affiliated companies providing the traditional services of a record label and a publishing company to select Artists.

    PledgeMusic and the following companies have entered into commercial partnerships to provide more integrated services to Artists:

  • MySpace
  • SonicBids
  • SoundOut (Slicethepie's insight and analytics service)
  • Lyric Financial
  • Nimbit
  • Topspin Media
  • Artist Growth
  • Firebrand
  • INgrooves Fontana
  • Inertia
  • INDMusic
  • The Agency Group

    • PledgeMusic has partnered with the Hotel Cafe for SXSW 2011 and 2012.

    PledgeMusic has hosted showcases with CMJ.

    Awards, nominations, and notable commentary

    PledgeMusic was nominated for the 2010 BT Digital Music Awards in the category "Best Innovation or Gadget".

    While discussing the Digital Economy Bill Lord Errol, in the UK House of Lords, has described PledgeMusic as a "rather clever idea" in the context of new ways of releasing music.

    PledgeMusic was nominated for the 2011 Music Week Awards in the category "Consumer-Facing Digital Music Service of the Year".

    PledgeMusic was nominated for the 2011 BT Digital Music Awards in the category "Best Innovation or Gadget".

    Ginger Wildheart was awarded the 2012 Classic Rock Awards 'Event Of The Year' award for his PledgeMusic campaign.

    PledgeMusic was noted as one of Billboard's "Five digital startups to watch in 2013".

    PledgeMusic won the Grammy Music Technology Lab in 2013.

    PledgeMusic was nominated for SoundCtrl's 2013 Best in Artist Support award.

    PledgeMusic was nominated for the American Association of Independent Music 2013 Annual Libera Awards (The "LIBBYs") 21st Century Award – celebrating the service provider or platform that was most beneficial to Independent labels and artists.

    Co-founders Benji Rogers and Malcolm Dunbar were named to The Hospital Club 100 list in 2013 in the category of Music.

    Benji Rogers, founder and president of PledgeMusic, won A&R Worldwide's International Music Industry Awards' Distinguished Digital Executive of the Year, 2014

    "Super Fans"

    In 2014, PledgeMusic and Lynda.com teamed up to produce a documentary about super fans and their role in the future of the music industry. The documentary features footage and interviews from SXSW and interviews with artists such as Nicole Atkins and San Fermin.

    References

    PledgeMusic Wikipedia
    (Text) CC BY-SA


    Similar Topics