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PledgeMusic in crisis

World News
February 6, 2019

UNITED KINGDOM   After crowd-funding platform PledgeMusic admitted falling behind in in payments to projects undertaken by artistes, the Musicians’ Union has advised members to use other platforms “until such time as this situation has been resolved”.

A number of artistes raised concerns over not receiving payment for their campaigns over the past few months.

A PledgeMusic statement acknowledges the situation and says the company is working “around the clock” to resolve the issue.

The statement says, “The situation that PledgeMusic has found itself in is unacceptable and to all of the artistes, 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.”

On a more ominous note, it says, “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.”

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