Music Crowdfunding Platform Having Growth Pains

The music crowdfunding platform, PledgeMusic, that hosts such big name stars as Melissa Etheridge, the Flaming Lips, Lindsey Stirling and Bring Me the Horizon,  promises its artists a transparent web platform.

But some talent are now claiming that the portal, that charges a 15% fee to crowdfund, is behind in funneling the funds to the artists; a couple of musicians say they’re owed in the 5 figures.

Due to the disruption of the music industry by digital streaming, artists now have to become mini-industries on their own by touring, selling merchandise as well as being creative.

Now they also have to be careful to monitor their payments (from all sources).

https://variety.com/2018/biz/news/pledgemusic-admits-late-payments-but-promises-were-working-through-it-1202832650/

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, Funding Portals, Investments, Jobs, Legislative Intent, review, SEC, Small Business, technology, VC, Venture Capital and tagged , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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