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Magna Entertainment takes major stake in PledgeMusic


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New York-based investment firm Magna has taken a “major position” in fan-funding service PledgeMusic.

The size of its investment remains undisclosed, although it was made through the company’s Magna Entertainment division, which is overseen by former Maverick Records and London Records exec Russell Rieger.

Rieger was actually appointed as a PledgeMusic director in February 2015. He and Magna CEO Joshua Sason are now two of the three current PledgeMusic directors alongside the company’s co-founder Benji Rogers.

Stuart Dredge

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