As some of you may have heard, PledgeMusic is about to declare bankruptcy. All of the money that you so generously pledged on the documentary will likely never be released to Garland and me. In case you were unaware, Pledge collects money from pledgers the moment they make their pledge, and then holds the funds until the artist delivers the project – in our case, the documentary DVD and other film related rewards. To be clear, we did receive funds for the completed album portion of the campaign.
There were rumors of problems at the company, but because of our previous positive experience with them we believed that they would rectify their financial issues. We believe they tried.
We’re not alone. Hundreds of artists with active campaigns are being affected.
We’ve been funding work on the film ourselves for quite some time. We have two major shoot days planned over the coming weeks. We can only hope that the money is somehow recovered, at least partially, to help offset at least some of the costs we’ve incurred. There is talk of a class action suit to be brought by the artists affected but that is small consolation right now.
Despite the fact that Pledge has not honored their commitment to us and has not given us any portion of the money pledged on the film, we will do everything in our power to deliver everything that was promised to YOU when you pledged. It’s just going to prolong an already longer than expected timeline for completion of this film as we work to find other sources of funding to replace what’s been lost. We’re considering seeking another round of funding using a different crowd-funding platform, but right now just don’t know if that’s the best way forward.
From the bottom of our heavy hearts, we thank you for your continued patience, support and understanding. Nothing’s going to stop us from finishing this film!
Claire and Garland