[Editor Charlie sez: How do you say “ponzi”? “A&R and Campaign Managers were only told to “launch launch launch” new campaigns so that payments could be distributed to other projects. They very well knew that they were unable to pay artists, but needed to launch new campaigns in order to gain more revenue. Employees knew that this was not ethical, but at the end of the day had no choice. “
What really happened at PledgeMusic?
Here’s an email from a former employee, received earlier this week. Last week, PledgeMusic announced its intentions to declare bankruptcy, while offering no assurances that unpaid artist balances — potentially in the millions — would be repaid.
As a former employee at PledgeMusic, I have information that is useful for anyone who is interested in knowing more details about what happened to the company.
1. Dominic Pandiscia is the one to investigate….