SOURCE: PledgeMusic

PledgeMusic

December 07, 2010 06:37 ET

PledgeMusic Recordings Signs The Damnwells to New Type of Record Deal

NEW YORK, NY--(Marketwire - December 7, 2010) - PledgeMusic (www.pledgemusic.com), the leading international direct-to-fan platform for raising funds for musicians to record and tour, today announced that newly formed subsidiary PledgeMusic Recordings has signed The Damnwells. Following their successful Pledge campaign which funded the recording, The Damnwells have signed to PledgeMusic Recordings for the release of their new album, "No One Listens to the Band Anymore," which will be distributed in the U.S. by Redeye.

"Signing The Damnwells was a no-brainer," said Benji Rogers, founder and CEO of PledgeMusic and PledgeMusic Recordings. "They're talented, driven and adored by their fans. The Damnwells were among the first bands to really use the PledgeMusic system to its full potential by continually engaging fans through the posting of their Pledgers Only Updates. They naturally understood that it was about the journey and not just the transaction and rewarded their fans accordingly with not just incredible access, but also with unreleased music, videos, photos and blogs."

PledgeMusic Recordings offers artists an unprecedented monetary split in the artists' favour. Artists retain all rights, ownership and publishing while PledgeMusic Recordings provides the guidance and expertise that artists have traditionally looked to labels for. 

"The deal that PledgeMusic Recordings offered us was really low stress with a lot of upside if handled by the right people," said Alex Dezen of The Damnwells. "We had a great experience with PledgeMusic during our campaign and we're confident that they are the right people." 

PledgeMusic Recordings was started, along with PledgeMusic Publishing, to leverage the Pledge system as an A&R platform. Sophisticated data collection and monitoring allows the company to project with accuracy the viability of an artist's work in the marketplace. "A lot of artists have been signed to labels following their Pledge campaign because they were able to prove their ability to sell their music," continued Rogers. "PledgeMusic Recordings is a natural extension of PledgeMusic and our direct-to-fan funding model."

For more information, please visit www.pledgemusic.com. PledgeMusic media inquiries: Victoria Rierdan Hurley, Helicon Public Relations, victoria@heliconpr.com, 310 993 1840.

About Pledge Music
Pledge Music was founded by musician Benji Rogers to give artists a DIY option for pursuing and augmenting their careers. The company was designed to be transparent and open, while benefiting artists and fans. Artists 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. In 2010, the company launched record label, PledgeMusic Recordings and publishing company, PledgeMusic Publishing.

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