Benji Rogers is returning to the company he co-founded, PledgeMusic, as a ‘volunteer strategic advisor and observer to the board’ in an effort to help the crowdfunding company deal with its financial troubles and get artists paid.
“I have been in discussions with the management team and board of Pledge over the last few days and I am convinced that they are committed to fixing the artists payments situation as their first priority,” he wrote in a blog post. “The first priority for the company is to sort the back payments issue as every penny that is owed to artists needs to get to them in the fastest possible time. A more detailed plan will be shared with the community shortly.”
He added that PledgeMusic will also appoint an independent company to manage all funds coming in to the company “so as to ensure that all campaigns that launch going forward, will be paid upon their campaign milestones being reached”.
Whether funds raised by artists have been adequately ring-fenced from the cash used to run PledgeMusic’s business is one of the questions that has been raised regularly in recent months, as reports of payment delays circulated.