PledgeMusic, a crowdfunding site designed to help fans support artists' projects, has gone offline, according to Variety. The company ceased its activities earlier this year when bankruptcy proceedings commenced and the closure of the site means that artists cannot retrieve information about their profiles and fans.
Instead of the site, the company's management has left a message saying that it "continues to work with external advisors on the most appropriate next steps, and that we will update you with those details as we get more information," and that "all data has been preserved and a message with the following steps will be posted here soon."
The site was established in 2009 and is designed as a way for bands to crowdfund albums, so fans can pitch for ordering CD & # 39; s and band items, and as a distribution platform for the artists. The site would collect fans' money and keep it for artists to use while collecting a fee. Over the past decade, the platform has helped numerous artists establish direct contact with their fans, allowing them to bypass traditional music infrastructure that many found did not serve them well.
But that utility began to disappear in the past year. In January, Reports popped up that said the site artists owed hundreds of thousands of dollars in payments, which meant they could not keep their promises to fans. Former employees say the company used those funds to cover operating costs. Company issued a statement, apologizing for the situation, saying that it was looking for collaboration with another company or for someone to acquire them. It also said it worked to get a third party to oversee artist funds. Bands such as Jesus Jones, Fastball and The Dandy Warhols told Pitchfork that the company owes them thousands of dollars.
In May it is confirmed that it went into administration (the British equivalent of bankruptcy proceedings), and said that artists could download their data. At the time, Variety reported that the company had no less than $ 3 million in debt, part of which was owed to the artists who used the platform.