Don’t call PledgeMusic a crowdfunding platform. “Crowdfunding is ‘please give money, then I will do’. Direct-to-consumer is ‘I’ve done it, here’s five ways to buy it.’ We’re in the middle with ‘be a part of the making of it’ – it truly is direct-to-fan,” CEO Benji Rogers tells The Guardian in a profile of his company. He also gives some stats on the platform that’s been used by artists including Bring Me The Horizon, Ben Folds and Ginger Wildheart. The average pledger in the last six months spends $57 per transaction on PledgeMusic, with campaigns on the site now exceeding their goals 86% of the time – for comparison, the success rate for Music projects on Kickstarter is 54.9%, although that’s all projects ever on that platform. Rogers adds that the average PledgeMusic campaign exceeds its target by 30%, and pitches the service as capable of doubling the income labels make from direct-to-consumer sales “with no loss or threat to any other aspect of their business”. Sony Music and Universal Music are two of the labels to have tested this theory out in recent times
Source: The Guardian
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