What is PledgeMusic? PledgeMusic Review, Features

PledgeMusic was launched in 2009 and is the most efficient crowdfunding website in the music industry, focusing on raising funds for musicians. The company's services include pre-sales, distribution and marketing of records.

About PledgeMusic

PledgeMusic aims to eliminate the middleman and help artists reach fans directly, thereby facilitating their record sales, event launches, and more.

PledgeMusic believes that they are just a platform directly facing music fans rather than a crowdfunding website. They only focus on raising funds for musicians, do not retain any ownership of the music created on the platform, and do not handle any financial transactions until the project reaches the funding goal.

PledgeMusic now has over 3,000,000 super fans and over 50,000 artists, and is growing every day.

PledgeMusic’s campaign success rate is reportedly 90% (higher than Kickstarter or Indiegogo), with most artists raising an average of 140% of their goals.

Funding model

1. Pre-sale model: Backers are asked to pay directly, much like a traditional retail project.

2. Fixed Fundraising Model: If the project fails to reach the planned amount, a full refund will be given to supporters.

Features

1. Focus on raising funds for musicians.

2. Do not retain any ownership rights to any music created through the platform.

3. Encourage artists to include charitable donations in their fundraising projects.

4. Absorb all transaction processing costs involved in the committed project.

5. Encourage artists to provide a wide range of rewards and exclusive content.

6. No funding transactions will be processed until the funding target is reached.

7. International, accepting artists, projects and pledgers from all over the world.

8. Allow investors (fans) to refund.

Development History

-In 2009, PledgeMusic was launched and is headquartered in London.

-In June 2013, Universal Music Canada (UMC) and PledgeMusic became partners. News reports showed that as an international music company that directly faces fans, PledgeMusic will provide UMC's artists with its own platform and marketing resources to help them promote their music.

-In 2014, PledgeMusic formed a partnership with digital music distributor CD Baby and its sister company, CD manufacturer Disc Makers, to provide record production, packaging and digital distribution services to independent musicians.

-In August 2014, the rock band Second Hand Rose held a concert tour at the famous Webster Hall in New York, USA, and launched a crowdfunding project in cooperation with PledgeMusic, where fans can pre-purchase concert tickets.

- In 2015, PledgeMusic was named one of the top ten most innovative companies in the music industry. Artists currently using the platform include Rob Zombie, KT Tunstall, BB King and Interpol.

-In 2016, PledgeMusic announced the acquisition of NoiseTrade and Set.fm.