Trade bodies to assess impact of PledgeMusic 'campaign disruption'

Trade bodies to assess impact of PledgeMusic 'campaign disruption'

Trade bodies and charities have united in a bid to support UK artists and businesses impacted by the collapse of PledgeMusic

Last month it was revealed that the troubled D2C platform was heading into administration.

On the PledgeMusic site, a statement said: “As many of you know, PledgeMusic suspended operations a number of months ago. The company continues to work with outside counsel on the most appropriate next steps, and we will update you with those specifics as we get more information.”

Hosted by the Musicians’ Union, an impact assessment survey is available to complete online to help ensure full understanding of all those financially affected. The deadline is 12 noon on June 25 and it is open to individuals and businesses. 

The survey is promoted jointly by UK Music, Music Managers Forum, Musicians' Union, the Association of Independent Music, Help Musicians UK, PRS Foundation and International Showcase Fund partners, including British Underground, PRS Members’ Fund, the Music Producers Guild, The Ivors Academy, Featured Artists Coalition, Music Support, and the BPI.

Information provided by the survey will help the biz better understand the scale of the fallout from PledgeMusic's protracted demise in order to ensure artists and businesses are given the support they require. 

"As organisations who want to see the music industry thrive, we are deeply disappointed that PledgeMusic has announced its bankruptcy leaving artists and fans out of pocket and with little communication or advice on how to deal with campaign disruption,” said a joint statement.

“The failure of PledgeMusic to appropriately ring-fence artist and fan money has the potential to damage artists’ careers and their relationships with fans and fellow creators if they can’t deliver on stalled campaigns. Individually, each of our organisations have been working hard to support our members during this difficult time. However, in order to consider collective action we have launched an industry-wide survey to assess the impact of the PledgeMusic closure.”

It's really gratifying to see a strong industry-wide response taking place

Jesus Jones

The survey is backed by Jesus Jones, who have led the artist community’s reaction to the platform’s collapse. 

Jesus Jones commented: "As a band who've been affected by the collapse of PledgeMusic, it's really gratifying to see a strong industry-wide response taking place. As artists, as fans, as people who've come to realise the potential strength of crowdfunding, it's vital that we all stand together, and rebuild confidence - and also seek to ensure that Pledge are held accountable for betraying such a vital bond of trust."  

Nicky Carder, from the Music Managers Forum, added: “Since the announcement of the PledgeMusic bankruptcy, we have had numerous calls from members whose artists have been impacted. We urge all UK artists affected to fill out the survey, so the industry can work collectively to assess what next steps can be taken”

Alongside the survey, UK Music is seeking an investigation from the Competition and Markets Authority in relation to PledgeMusic and is raising the case with Ministers and MPs to identify steps to ensure this perilous situation is not repeated in the future. 

 

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