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PledgeMusic Bankruptcy

The crowdfunding website struggles to fund its userbase

In just 10 years since its founding in 2009, PledgeMusic has nearly come and gone as the once promising crowdfunding website files for bankruptcy in 2019. As a result, PledgeMusic is failing to delivery money owed to artists sharing music on their website.

PledgeMusic website goes offline

The official PledgeMusic website–which is now offline–only tells visitors navigating the site about the sobering news of their struggling financial structure. While not immediately helpful, the message clearly shows that PledgeMusic is admitting to their situation and planning to help its user base:

To the Artists and Fans of PledgeMusic.

As many of you know, PledgeMusic suspended operations a number of months ago and the site is now offline.

The company continues to work with outside counsel on the most appropriate next steps, and we will update you with those specifics as we get more information.

All data has been preserved and a notice with next steps will be posted on here shortly.

PledgeMusic

Responding to PledgeMusic bankruptcy

Further details on how to respond to the PledgeMusic bankruptcy are written in posts to the brand’s official Facebook page. One in February 2019 and the other from May 2019.

February post

Before the site went offline, a Facebook post instructed PledgeMusic users to go to the site’s help page for any communications necessary.

May post

In May, PledgeMusic updated its user base as to how they can secure any data on their account by accessing it from a link. The users simply follow the link and download their account information as a necessary step to keep the data as proof of moneys owed to them not yet paid.

Public response

Replies to these Facebook posts are back-to-back complaints, vengeful statements, and disparaging comments at the expense of PledgeMusic. Clearly upset, the user base is emotionally invested and financially dependent on getting their money’s worth for their music. Unfortunately, the economic outcome means these moneys are undeliverable but rightfully due.

Music solutions

Major advances in web technologies that allow for ease of sharing music also bypass moneys otherwise spent to buy and have earned back by the releasing artist. Crowdfunding and blockchain have emerged as a music solution. While PledgeMusic struggles to delivery in the crowdfunding approach, other platforms as such as Choon are better off yet still fighting the fight to pay back artists for their work.

So, it is no easy task to provide and successfully carry out the services of a music solution–evidently there is not enough money to cover the costs.

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Eric Niebergall

Eric Niebergall enjoys telling the stories behind the music.

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