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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

Kévin Oudard

Kévin Oudard commented

Hello guys, does someone have news from Pledge?

From France we don't know what to do, it's kind of complicated...

Is there anybody that has new informations?

Thanks a lot guys

Kevin

Peter Anders

Peter Anders commented

Got an email of a company collaborating with some of the betrayed artists saying PledgeMusic declared bankruptcy. I would not at all be surprised but an explanation by PledgeMusic whether or not this is the case would help all of the betrayed pledgers as a proof to get their money back from the credit card companies. But no official statements by Pledge since 3 months

Jason Moss

Jason Moss commented

And how is this not theft again?

Gary A Gardner

Gary A Gardner commented

£80.24 That I am owed for non fulfilment, I doubt I will get it, but I will start legal proceedings, and the costs will go on to you PledgeMusic. Bailiffs will be descending on your door very soon.

Kelly Taylor-Miner

Kelly Taylor-Miner commented

Out $678.06, worst part is the money promised for Chely Wright's project was never given to her. So it's the worst for her. She did her part and did many of the things (phone calls, recording sessions, etc.) and has not been given a single dime. This is so unacceptable. And now we all have to buy the albums again after already paying for them.

Andrea Marie Pinansky

Andrea Marie Pinansky commented

Owed $1,817.64. Sent 2 emails over the course of two months. No contact besides stock reply.

Timothy Hillier

Timothy Hillier commented

This box set was for my brothers 60th birthday. Have heard nothing. Totally unacceptable.

Derek Proctor

Derek Proctor commented

does the word thieves fit I think so.

Ann McNicholas

Ann McNicholas commented

Exactly I will not pledge again

Martyn Court

Martyn Court commented

Pledge music are nothing but a bunch of thieves. I've sent several emails requesting a refund and they haven't even bother to send a single email reply. Do not give them any more money as you will get nothing in return.