SOURCE: Pledge Music

Pledge Music

February 02, 2010 07:04 ET

The Damnwells Hit the Studio With Fan Raised Funds Through Pledge Music; First Band to Reach 148% of Goal

LOS ANGELES, CA--(Marketwire - February 2, 2010) - Pledge Music, the groundbreaking direct to fan (D2F) funded investment platform, today announced that New York indie band, The Damnwells, is currently in the studio recording an album with funds raised directly from fans through their D2F pledging model. The band originally set a goal of $20,000 to record their new album but fans have been so responsive that they are currently at over $29,000. Ten percent of the money raised goes to the global fund to help fight AIDS, malaria and TB.

"Pledge Music is an incredible thing, a miracle," said Alex Dezen, lead vocalist. "This is the new music industry: artists and fans uniting to celebrate music without the thorny middle man."

Part of the appeal is that The Damnwells have offered fans a list of incentives from the basic -- the final CD, to the elaborate -- name in the credits, the opportunity to introduce the band live or hang out at a rehearsal. Everyone who pledged also gets exclusives like unreleased songs, photos and updates. Fans have continued to pledge despite the fact that the goal has been reached.

"Even we were surprised by this," said Benji Rogers, founder of Pledge Music. "This is an example of direct to fan funding at its best. The fans really want their favourite bands to be able make music and in exchange for their participation, they get unprecedented access to the process. Everyone wins!"

Pledge Music does not take any money from fans until the entire pledge target is met. Additionally, the band retains all rights to their music. Pledge Music also charges the lowest, flat rate commission in the marketplace.

About Pledge Music

Pledge Music was founded by musician Benji Rogers to give bands a true DIY option for pursuing the careers. The business was designed be transparent and open, while benefiting musicians and fans. Musicians will get the funding and promotional support that they need, the fan will get the music and artist interaction that they want at the price that they want to pay, and charities who have scant fundraising resources will receive a percentage of the money raised.

Contact Information

  • For further information:

    Victoria Rierdan Hurley
    Helicon Public Relations
    (310) 993 1940
    Email Contact