The new privately funded company will be administered globally by Kobalt Music and run by PledgeMusic managing director Malcolm Dunbar.

Dunbar said the organisation, which claims to be the first publishing company set up by a direct-to-fan platform, will sit apart from its sister company - operating in the same way as any other independent publisher, rather than replicating PledgeMusic's fundraising model.

Already PledgeMusic Publishing has signed its first act, Brighton-based singer songwriter Sophie Madeleine, who funded the release of ...