The Pledge Music Model

The Birth of PledgeMusic

I think Pledge came to exist because Benjy Rogers, our founder, identified that within the music industry, there needed to be more options for artists to:

• Make records
• Tour
• Generate income

He recognized that crowdfunding could significantly benefit the artist community. Thus, he devised PledgeMusic.

Getting Started with PledgeMusic

By signing up to PledgeMusic.com, you can complete what we call our ** gang sign up form**. Here's how it works:

1. Build Your Campaign:

   • Outline what you want to do.
   • Fill in details about how much you aim to generate or whether it's a pre-order.

2. Meet Our Organics Team:

   • There are two team members in the UK and three in the US.
   • They will review your proposal and provide feedback on its viability, helping to refine your campaign.

Our Curatorial Approach

We don't launch every single artist or campaign that comes to PledgeMusic. We curate initiatives that we believe will work, ensuring quality over quantity.

• Hands-On Service: You'll receive substantial help in crafting the right campaign.
• Monetary Guidance: We provide advice on what you should aim to generate as a monetary figure.
• Cost Evaluation: Assistance is available to review the costs of events and products you want to offer fans.

PledgeMusic is an involved company; we assist rather than leaving artists, labels, or managers to manage everything themselves.

Diverse Campaign Options

We now run campaigns for a variety of products:

• Traditional Music Releases: Making records.
• Books and DVDs: Expanding into different forms of media.
• EPs: Catering to multiple formats.

However, it's essential that all products are music-related; we will never stray from working within music.

Case Studies

• The Libertines:

  • We have a major pre-order campaign for this well-known band, running with Virgin EMI.
  • This campaign has been engaging for the fan base, featuring a week of events in London, including:
    • Pop-up shops
    • Small gigs
    • Pub quizzes

• Telegram:

  • Emerging artists who connected with fans through a small campaign for a single EP.
  • They have now returned for an album campaign, successfully generating funds while keeping fans involved in the process.

Both campaigns showcase how PledgeMusic engages fans, creating exciting experiences.

Commission Structure

PledgeMusic operates on a 15% commission on net revenue (after accounting for post-editing packaging, fulfillment, and VAT).

Money Flow in Crowdfunding Campaigns

1. Setting a Target: We establish a monetary target that fans do not see; instead, they view a 0-100% progress bar.
2. Cash Flow:
   • Upon reaching the target amount, we pay over 60% of the initial target amount to you immediately, allowing for cash flow.
   • We take our 15% commission and retain 25% of the initial target for later distribution.

The campaign doesn't stop there. As campaigns can exceed their target (200%, 300%, or even 400%), any additional funds serve as cash flow for your needs, such as manufacturing items or covering studio costs. The only amount retained is the 25% of the initial target, which is paid out at the end when everything is complete.

Conclusion

PledgeMusic is dedicated to supporting artists in navigating the crowdfunding landscape, ensuring that each campaign is thoughtfully curated and engaging for fans. With our hands-on approach and diverse offerings, we are committed to fostering creativity and financial success within the music industry.