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A Statement From PledgeMusic

For Immediate Release

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A Statement from PledgeMusic

To the PledgeMusic community,

The situation that PledgeMusic has found itself in is unacceptable and to all of the artists, managers, labels and fans who have put their trust in us, we are deeply sorry.

All of us at the company are working around the clock to address everybody’s concerns and are hopeful of reaching a positive resolution soon.

To you artists especially, we understand that every last penny is vital to your project’s successful delivery and as such we wanted to share with you some of the concrete action that we have undertaken to date:

Firstly, PledgeMusic is a unique platform with millions of active users and we strongly believe that, notwithstanding our recent problems, PledgeMusic has very significant value.

We are in discussions with several interested parties about a potential partnership with or acquisition of PledgeMusic. These conversations, if successful, would lead to a transaction which would allow us to meet all of our outstanding obligations. As a result, we are hopeful that, as long as the company is given some breathing space to operate, a solution to these current problems will be found.

We cannot reveal further details of these conversations at present as we are bound by commercial sensitivities but as soon as we have any news we will release it.

Secondly, PledgeMusic is in advanced discussions with an independent third-party company to manage all artist funds going forward.

Finally, as previously announced, co-founder Benji Rogers has returned to the company as a volunteer strategic advisor and observer to the board of directors. Benji will assist and advise the new management and finance team on the inherited and existing issues, as well as with the forward planning for the company. His statement is HERE

Benji remains as full time Chief Strategy Officer of DotBlockchain Media.

In closing, the board and management team’s priority remains settling any and all back payments that are owed.

We ask for patience. We know that for a lot of you this must be wearing very thin, but we can only reiterate that we are fully focused on making this situation right.

Sincerely and with thanks,

The PledgeMusic Board and Management.

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Discussion

Ed Taylor

Ed Taylor commented

Whilst I understand that pledgers are rightly annoyed about their pledge money, surely the more important point here is that artists are not being paid for their work. I for one won't be asking for any refunds until I know the artists have been paid - then if there's any money left, I will make my request for a refund.

Cynthia Uaisele

Cynthia Uaisele commented

Breathing space? You must be kidding! A lot of Rycher's like myself pledged close to a year now which means NO REFUNDS! Now I know what it feels like to get fucked straight up my ass! You're terrible, heartless beast that probably thought you'd get away with it but you will not! Shame on you for lying,lying and LYING!!! LIARS!!!

John Elliott

John Elliott commented

I’ve been waiting nearly four years for my CD. Absolutely ridiculous!!

michael weimer

michael weimer commented

i will get my refunds or i will contact my credit card company and get my money back that way you guys have until next friday. thanks

Peter Rakaric

Peter Rakaric commented

Yeah. Fuck your asking for patience. You can't deliver because of lies and/or ineptitude. You haven't only screwed yourselves, artists and the people who have supported them - but you've screwed any trust that anyone would have in such an industry as "crowdfunding". You're just another symptom of things that are morally and ethically corrupt in business.

Arndt Fischer

Arndt Fischer commented

FUCK YOU!!!

Tory T Olson

Tory T Olson commented

CROOKS. Unbelievable.

Seth Williams

Seth Williams commented

You dropped the ball and lost my business. May obscurity devour you.

Andy Parry

Andy Parry commented

I'm sure Benji ain't doing this for free, I'm sure they are all divvying up the remains of the assets before they do a runner. Where is the CEO? Fraudulent fuckwits.

Andy Parry

Andy Parry commented

Your staff of fraudsters are no doubt still claiming their tidy remuneration while leaving everyone else out to dry.

Lisa Rae

Lisa Rae commented

So PledgeMusic expects bands to just sit around, waiting, and not get their money to do the things their fans pledged for them to do, while they supposedly get someone to buy their company? Not only does it make PledgeMusic look like the racket it apparently is, but they are taking the bands, that put their trust in them, down with them, too. Bands will lose fans to this mess and it won't be their fault.